Wind turbine prices are expected to increase by up to ten per cent over the next 12 to 18 months due to increases in commodity prices, logistics costs, and coronavirus-related challenges, according to a new analysis from Wood Mackenzie. As noted in a recent Wood Mackenzie report, a rise in steel, co
PGE Polska Grupa Energetyczna has selected Société Générale as a financial advisor for the construction of the Baltica 2 and Baltica 3 wind farms in the Polish Baltic Sea. With a combined capacity of 2.5 GW, Baltica 2 and Baltica 3 represent the largest investment of this type in the Polish part of
Four US Senators have introduced a bill to create offshore wind manufacturing tax credits aimed at advancing the manufacturing and offshore wind deployment in the USA. With the growing number of offshore wind leases offered in the United States, the Offshore Wind American Manufacturing Act is said t
World’s leading offshore wind developer Ørsted recorded a DKK 7.142 billion (EUR 960 million) net profit in the first half of 2021, a 186 per cent increase compared to DKK 2.493 billion net profit recorded in the first half of 2020. The company’s operating profit (EBITDA) for the first half year amo
Dublin-headquartered Gazelle Wind Power Limited has raised USD 4 million in funding to accelerate the development of its hybrid floating offshore wind platform. This investment includes USD 1.3 million in seed funding and another USD 2.7 million in strategic long-term financing which will be used to
Danish wind turbine manufacturer Vestas has lowered its full-year guidance citing supply chain constraints, cost inflation, and restrictions in key markets caused by COVID-19. These are the characteristics of the current environment the impacts of which are likely to continue in the second half of t
Siemens Gamesa will expand its offshore blade factory in Hull, England by 41,600 square metres, more than doubling the size of the manufacturing facilities. The expansion represents an investment of GBP 186 million and is planned to be completed in 2023. A portion of the investment will be funded th
Prysmian has taken delivery of its new 170-metres-long cable-laying vessel (CLV) Leonardo da Vinci. Leonardo da Vinci’s first deployment will be the installation of the Viking Link submarine cable connection between the UK and Denmark. The vessel has just arrived at Prysmian’s Arco Felice production
GRI Renewable Industries will build an offshore wind turbine tower factory at Able Marine Energy Park, Hull, the UK. The Madrid-headquartered tower manufacturer will invest GBP 78 million in the new factory which is expected to create up to 260 direct jobs. GRI Renewable Industries plans to supply i
Octopus Renewables Infrastructure Trust plc has invested EUR 7.5 million into Simply Blue Holdings Limited, the parent company of the Simply Blue Group. Simply Blue Group has developed a pipeline of over 9 GW of floating offshore wind projects to-date, primarily in the waters of the UK and Ireland.
The Netherlands-based provider of systems and services to the offshore oil and gas industry has revealed its ambition to co-develop or participate as a technology or turnkey provider in 2 GW of floating wind projects over the next decade. This is an excerpt from a Premium article published on our si
Eneti Inc.’s wholly-owned direct subsidiary entered into a binding agreement with Marubeni Corporation, INCJ, Ltd., and Mitsui O.S.K., Lines Ltd. under which Eneti will acquire 100 per cent of Atlantis Investorco Limited, the parent of Seajacks International Limited. Seajacks was founded in 2006 and
Baltimore-headquartered offshore wind developer US Wind has initiated a number of steps in the development of offshore wind energy for the US State of Maryland. These include major labor agreements to support US Wind’s first offshore wind project for Maryland, the 22-turbine MarWin project, and all
Energy services provider Swire Energy Services has acquired the Danish wind services provider, ALL NRG. The acquisition will see Swire Energy Services become the sole owner of the ALL NRG wind and solar division. ALL NRG is a provider of manpower services and project solutions including installation
