Alternative investment manager Apollo has made a structured investment in the US-based offshore wind developer – US Wind Inc. Certain funds managed by Apollo Global Management’s affiliates have committed to invest, through convertible debt and equity, up to USD 265 million to acquire an equity stake
Bladt Industries has noted a loss of DKK 42 million (approximately EUR 5.6 million) in its full-year 2019 results, but at the same time the company also reported a record-high order book and workforce increase. Namely, the company registered an extraordinary write-down of DKK 85 million (approx. EUR
Modern Energy Management (MEM) has completed its scope of work on the 78 MW Ecotech intertidal wind farm in Vietnam. MEM provided overall project management for the development team and early works scope along with technical support during technical and commercial negotiations. “We selected Modern E
World’s leading offshore wind developer Ørsted reported a 17 per cent increase in earnings from offshore and onshore wind farms in operation in the first half of 2020. The earnings, which stood at DKK 8.2 billion (EUR 1.08 billion), were driven by the ramp-up of power generation from the Hornsea Pro
The UK government has awarded a floating wind project led by Wave Hub with early-stage funding that could result in a further longer-term investment of later this year if the early stage of the project development is successful. The South West Floating Offshore Wind Accelerator is one of 17 projects
Norwegian offshore energy major Equinor has appointed Anders Opedal as the new president and CEO. The company’s current president and CEO, Eldar Sætre, will retire after six years as CEO and more than 40 years in the company. “Equinor is entering a phase of significant change as the world needs to t
CWind Taiwan and HYTOR Tools Solutions have teamed up to bring temporary power solutions to the Taiwanese offshore wind market. As part of the strategic alliance, the two companies said they imported a significant quantity of 100 kVA generators to be based in CWind Taiwan’s operational hub in Taichu
Siemens Gamesa’s blade test center in Aalborg, Denmark, has gained IECRE approval. According to the company, the approval was granted in the highest level required (stage (4)) with a high independency of certification bodies. Siemens Gamesa now became the first non-commercial inhouse blade test faci
A multi-user, planned transmission system for offshore wind in New York could result in electric grid cost savings of over USD 500 million and significantly reduce environmental impacts and project risks, according to a new report prepared by The Brattle Group for Anbaric. The Offshore Wind Transmis
Aker Solutions’ offshore wind spin-off, Aker Offshore Wind, will initially focus on deep-water fixed-bottom and floating wind projects in four different markets: South Korea, the USA, Scotland, and Norway. ScotWind According to a company presentation, Aker Offshore Wind has entered into an agreement
The European Investment Bank (EIB) has approved a EUR 500 million financing for the Borssele 1 & 2 offshore wind project in the Netherlands. At the beginning of the year, Ørsted applied for a loan with the EIB which will finance the construction and the operation of the 752 MW wind farm. The estimat
Tsubasa Windfarm Design (TWD), Fraunhofer IWES, and Kobe University have started collaborating to provide wind farm design services for projects offshore Japan. Fraunhofer IWES is specialized in offshore layout optimization and has been actively developing its own wake models which take into account
Global offshore wind capacity will surge to over 234 GW by 2030, led by exponential growth in the Asia-Pacific region and continued strong growth in Europe, according to a new report from the Global Wind Energy Council (GWEC). More than 205 GW of new offshore wind capacity will be added globally by
The U.S. economy could see offshore wind investments reaching USD 17 billion by 2025, USD 108 billion by 2030 and USD 166 billion by 2035, supporting 80,000 jobs annually by 2035. This is according to a new study from Wood Mackenzie, which also found that 28 GW of offshore wind areas could be leased
