With the global installed offshore wind capacity expected to exceed 250 GW by 2030, the combined capital and operational expenditure (capex and opex) for the decade is set to reach USD 810 billion (approx. EUR 670.2 billion), signaling an increasing shift of investments from oil and gas to renewable
Ørsted has opened an office in Hanoi, Vietnam, in anticipation of a booming offshore wind market in the country. While presenting its latest financial results and plans on 29 April, the offshore wind developer said it was looking to build a local team and work diligently with government authorities
Northland Power has awarded BLIX Consultancy with a framework agreement to assist with the development of its worldwide offshore wind portfolio. BLIX will provide tender support, feasibility studies, EIA expertise, LCOE optimization, owner’s engineering services, and contracting and procurement supp
An inter-array cable issue on several Ørsted’s offshore wind farms in the UK and Continental Europe could have a total financial impact around DKK 3 billion (around EUR 403 million) across 2021 to 2023, the company reported in its latest financial results. A cable failure was discovered during an in
French energy major Total has signed an agreement with wpd to acquire a 23 per cent interest in Yunlin Holding GmbH, the owner of the 640 MW Yunlin offshore wind farm in Taiwan. The project, currently under construction, represents production capacity of 640 MW and benefits from a 20-year guaranteed
Ørsted has reported a net profit of DKK 1.6 billion (EUR 215 million) for the first quarter of 2021, a 52 per cent decrease from DKK 3.3 billion from the same period last year. The Danish company saw an operating profit (EBITDA) of DKK 4.9 billion (EUR 659 million) for Q1 2021, a DKK 1.9 […]
Ocean Winds is launching a recruitment process for the operations and maintenance of the Moray East offshore wind farm in Scotland. Over 20 new posts, including apprenticeships, are open, in addition to the circa 60 positions that will be needed to service the project’s turbines. Jack-up vessel Bold
Vattenfall reported a lower earnings contribution from its Wind operating segment in the first quarter of the year, which stood at SEK 400 million (approx. EUR 39.5 million), mainly due to lower wind speeds and lower availability of offshore wind. The company posted a 11 per cent net sales decrease
The Kriegers Flak offshore wind farm in the Baltic Sea, where half of the turbines have been installed so far, is already generating electricity for Danish households and has contributed to Vattenfall’s Q1 2021 results. The developer reported a decrease in electricity generation in the first quarter
Mainstream Renewable Power and Vietnam’s Department of Foreign Affairs for Provinces have signed a Memorandum of Understanding (MoU) to stage a capacity-building event to increase regional government engagement in the development of offshore wind. The focus of the event, which is expected to be held
Crown Estate Scotland has provided applicants to ScotWind Leasing with the updated technical guidance needed to progress their applications. Applicants now have the technical information and guidance they need to continue their preparations for submitting their proposals. This follows on from the re
Offshore Renewable Energy (ORE) Catapult has selected 28 UK businesses to benefit from the Fit 4 Offshore Renewables (F4OR) business improvement and supply chain growth programme. This latest regional F4OR round includes 16 companies from the northeast of Scotland and 12 in North East England, which
Offshore wind energy projects final investment decisions (FIDs) will grow 57 per cent in the next 18 months, compared to the 2019-20 period, according to a new analysis from Westwood Global Energy Group. The global analysis, excluding mainland China, states that the FIDs growth represents an additio
Wind turbine manufacturer Vestas plans to further expand its UK offshore wind production footprint, contingent on securing sufficient project volume in the upcoming Contracts for Difference (CfD) Allocation Round 4. Following its recent re-entry into offshore wind, Vestas is now investigating the po
