Turbine blades, towers, monopile foundations, and power cables are the prime areas in which the UK can secure new investment to boost its domestic manufacturing capabilities, the Offshore Wind Industry Council (OWIC) said. These are the priority areas in which OWIC is working with the UK government
TEPCO Renewable Power (TEPCO RP) has joined the TetraSpar floating foundation demonstration project by buying a 30% stake. In addition to TEPCO RP, the share structure in the project includes Shell holding a 46.2% share, RWE 23.1% and Stiesdal Offshore Technologies 0.7%. Through their collaboration
The world’s installed offshore wind capacity rose by 15 per cent in 2020, despite the COVID-19 pandemic, and this year will see a 37 per cent growth in global installed offshore wind capacity, according to Rystad Energy. Major contributor to both last year’s and this year’s growth is China. The coun
The following article is a guest post by Andreas Dracoulis (Partner), and Jonathan Morton (Associate) at the international commercial law firm Haynes and Boone. Interest in the offshore wind industry has grown exponentially over the last year and the anticipated growth of the market is huge. The EU
Ørsted’s earnings from operational offshore and onshore wind farms saw a 14% increase in 2020, driven by the ramp-up of power generation from the Hornsea One and Borssele 1&2 projects, amongst others. In its annual report for 2020, Ørsted states that the earnings from wind farms in operation increas
GE Renewable Energy is expanding its wind turbine nacelle factory in Montoir-de-Bretagne in France to accommodate the assembly of nacelles for the Haliade-X offshore wind turbines. The wind turbine supplier has awarded a consortium of VINCI Construction France’s subsidiaries with a contract for the
Japan’s Mitsui O.S.K. Lines (MOL) has announced that it will restructure the organisation as of 1 April and that it will establish a business division dedicated solely to offshore wind. As part of its restructuring and setting up several new business units and divisions, MOL is establishing the Wind
Mitsubishi Heavy Industries and Vestas have launched MHI Vestas Japan, a joint venture targeting onshore and offshore wind turbine markets in Japan. The joint venture started operating on Monday, 1 February. MHI Vestas Japan’s head office is located in Chiyoda-ku, in central Tokyo. Masato Yamada, fo
BP and Equinor have closed the transaction for BP’s acquisition of a 50 per cent interest in the Empire Wind and Beacon Wind projects off the U.S. east coast. The closing of the transaction marks BP’s official entry into offshore wind. “We see significant opportunities by rapidly growing bp’s offsho
Canadian energy company Northland Power and Poland’s PKN ORLEN have entered into an agreement under which Northland Power will acquire a 49 per cent stake in the 1.2 GW Baltic Power offshore wind project in Poland. Northland expects to invest approximately PLN 290 million (EUR 64 million) in the Bal
The following article is a guest post by Jonas Corné, CEO at Greenbyte, a provider of asset management solutions. The article examines digitalisation in the offshore wind sector, the necessity of it and current challenges that hinder using digitalised solutions to advance offshore wind projects. Des
Norway-based Magnora has entered into a partnership with an undisclosed company to establish a joint floating wind player called Magnora Floating Wind, which already started working on the application for the ScotWind round in Scotland. The newly established company also plans to participate in the
Leading offshore wind developer Ørsted is changing the organisational structure to strengthen its ability to tap into the growth potential of global renewable energy markets over the next decade. Over the next decade, global renewable energy markets are expected to grow at double-digit annual growth
According to a new study from Offshore Renewable Energy (ORE) Catapult, large floating wind projects in the UK could secure Contracts for Difference (CfD) strike prices below current wholesale electricity price forecasts in 2029. Reaching the point of having “subsidy-free” floating wind projects dep
