Ørsted has signed a EUR 175 million, 8-year loan agreement with the Nordic Investment Bank (NIB) for co-financing its investment in the Borssele 1 & 2 offshore wind farm in the Netherlands. Together with the loan agreement closed with the European Investment Bank (EIB) on 6 September, the intended l
The Netherlands plans to develop additional 10.7 GW of offshore wind capacity by 2030 in order to meet the EU’s current goal of reducing CO2 emissions by 55 per cent by 2030 compared to the 1990 levels. The Dutch Ministry of Infrastructure and Water Management has now issued the Additional Draft Nor
Avangrid Renewables plans to build an Offshore Wind Control Center in New Bedford, Massachusetts, as part of the Commonwealth Wind project proposal, the offshore wind project developer Vineyard Wind, a joint venture between Avangrid Renewables and Copenhagen Infrastructure Partners (CIP), informed o
Largest chemicals producer in the world, BASF, and Ørsted have concluded a 25-year fixed-price corporate power purchase agreement (CPPA), under which BASF will offtake the output of 186 MW from Ørsted’s planned Borkum Riffgrund 3 Offshore Wind Farm in the German North Sea. The offshore wind farm wil
Canada’s Northland Power and its German partner RWE have exercised their step-in right to match the winning bid in Germany’s latest offshore wind auction for the N-3.8 zone in the North Sea and secure the lease for the 433 MW German Nordsee Two offshore wind project. Back in September, Germany’s Fed
Scotland’s national economic development agency, Scottish Enterprise, and Japanese conglomerate Marubeni Corporation have signed a Memorandum of Understanding (MoU) to jointly explore opportunities in floating offshore wind and green hydrogen. The new partners have identified three key areas of coll
Edda Wind, owned 50/50 between Wilhelmsen and Østensjø, has launched an initial public offering (IPO) on the Oslo Stock Exchange with plans to use the proceeds to support its existing offshore wind vessel newbuilding programme, as well as to back potential further newbuild opportunities. “This listi
GE’s Renewable Energy business segment will become part of a standalone GE Renewable Energy and Power company as GE plans to form three separate public companies focused on aviation, healthcare, and energy. GE Renewable Energy and Power will be established by combining GE Renewable Energy, GE Power,
Ørsted has announced a multi-million pound agreement to be the first and lead customer for monopile foundations manufactured at the planned UK facility of SeAH Wind Limited, a UK-based subsidiary of SeAH Steel Holdings. The deal, subject to securing a Contract for Difference and Final Investment Dec
Offshore wind construction company Eneti announced on 8 November that it would issue USD 200 million (around EUR 173 million) in shares of its common stock for public offering and would use the net proceeds to fund the construction of its offshore wind installation vessel programme. Scorpio Holdings
Nexans has officially opened its high-voltage subsea cable plant in Charleston, South Carolina, the first such facility in the United States. From the new facility, Nexans will deliver subsea cables up to 525kV HVDC and 400kV HVAC, covering the full range of needed products for export cables for off
Combined market losses in offshore wind grew from GBP 124 million (around EUR 145 million) in 2010-2015 to GBP 500 million (around EUR 585 million) by 2020, with the average insurance claim nearly doubling from GBP 1.67 million (around EUR 2 million) to GBP 3.08 million (around EUR 3.6 million) in t
Six European and Japanese companies have established Japan’s Floating Offshore Wind Group to actively promote floating offshore wind in the country. The newly launched group – set up by Equinor, Shell, Ocean Winds (a joint venture between EDP Renewables and ENGIE), Sumitomo Corporation Global Metals
NKT is expanding its presence in Poland with an execution center to prepare for the growing demand for offshore and onshore power cables driven by the development of the local offshore wind market.
