An Ørsted-Phillips 66 partnership and ERM have withdrawn their Gigastack and Dolphyn projects, respectively, from the UK’s first electrolytic allocation round (HAR1). While ERM has made the move as it aims at securing alternative funding for a phased multi-unit larger development, Ørsted and Phillip
Ørsted has completed the divestment of 25 per cent of the London Array offshore wind farm in the UK to funds managed by Schroders Greencoat. The company, which held a minority interest in the 630 MW offshore wind farm since 2014 and did not have operations and maintenance (O&M) responsibility on the
Eneti, former Scorpio Bulkers and the owner of Seajacks UK, has entered into an agreement to sell the Seajacks Hydra, Seajacks Leviathan and Seajacks Kraken vessels for a total of USD 70 million (around EUR 63.7 million). According to information the company shared in its results for the second quar
Venterra Group and CAPE Holland have entered into an agreement under which Venterra will acquire the Netherlands-based company specialising in offshore vibro-piling in the next several weeks. The UK offshore wind services group says the acquisition will enhance its foundations offering. CAPE Holland
Spain-headquartered Iberdrola has secured a EUR 500 million loan from Citi, partly guaranteed by the Norwegian Export Credit Agency (Eksfin), to support the development of the 1.4 GW East Anglia Three offshore wind farm in the UK. The loan has a drawdown period of two years. According to Iberdrola,
Ofgem has shortlisted four potential bidders for its next Offshore Transmission Owner (OFTO) bidding round for three offshore transmission links worth an estimated GBP 2 billion (about EUR 2.3 billion). In the “most valuable” OFTO tender round ever run by Ofgem, a new bidder has joined three others
UK green energy supplier Octopus Energy Group has announced that it will invest, through its generation arm, USD 20 billion (about GBP 15 billion) into offshore wind by 2030. The company said that this will go towards the generation of 12 GW of renewable electricity a year, enough to power 10 millio
Ørsted has signed an agreement with funds managed by Schroders Greencoat to divest its remaining 25 per cent minority interest in the London Array offshore wind farm in the UK. The total value of the transaction is GBP 717 million (approximately EUR 829 million). Ørsted originally owned 50 per cent
Vattenfall has stopped the development of the Norfolk Boreas offshore wind power project in the UK and will review the way forward for the entire 4.2 GW Norfolk Zone, the Swedish energy company revealed in its interim report. The developer said that the decision to stop the project was made due to ”
Nordic Capital has reached an agreement to sell Denmark-based Bladt Industries to the wind turbine tower manufacturer CS Wind. During the Nordic Capital ownership, the company completed a company-wide strategic pivot to focus solely on the growing offshore wind industry, becoming a pureplay renewabl
Seaway7 has signed a contract with ScottishPower Renewables, Iberdrola’s UK arm, for the transport and installation of foundations and inter-array cables for the 1.4 GW East Anglia Three offshore wind farm. The deal is worth between USD 500 million and USD 750 million, as per Subsea7’s definition of
The Crown Estate has reported a record net revenue profit of GBP 442.6 million (around EUR 512 million) for the financial year 2022/23 thanks to earnings from option fees that the developers of the Round 4 offshore wind farms started paying this year. Offshore wind has also boosted the value of The
Offshore Wind Consultants, an ABL Group company headquartered in London, has entered into an agreement to acquire 100 per cent of the shares of Denmark-based offshore wind consultancy, Delta Wind Partners (DWP). The acquisition, expected to close in the third quarter, is said to expand OWC’s technic
Opergy Group and China-headquartered Mingyang Smart Energy Group have formed a strategic partnership to support the entry of Mingyang into the UK offshore wind market. The partnership aims to accelerate the development of UK offshore wind projects, with Mingyang already one of China’s largest manufa
