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Business & Finance

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Offshore Wind Breaks Records in UK
Business & Finance

Offshore Wind Breaks Records in UK

Offshore wind generation in the UK rose by 28% percent in 2018, providing a record-breaking 8% of the UK’s electricity, according to the latest report by the Department for Business, Energy and Industrial Strategy (BEIS). UK’s offshore wind capacity increased by 1.2GW due to several large projects o

about 7 years ago
Low Winds Blow on EnBW Renewables Business
Business & Finance

Low Winds Blow on EnBW Renewables Business

EnBW has reported a 10.3% decrease in the operating result of its renewables division in the 2018 financial year, said to be partly due to poor wind conditions which had a negative impact on the output of offshore wind farms. EnBW also attributes the EBITDA drop to low water levels which negatively

about 7 years ago
Scotland Feels Offshore Wind Bump
Business & Finance

Scotland Feels Offshore Wind Bump

Wind turbines offshore Scotland generated 1,369 GWh of electricity in 2018, a 122.2% increase compared to 616 GWh of electricity generated in 2017, according to the latest figures from UK’s Department for Business, Energy and Industrial Strategy (BEIS). Scotland’s operational offshore wind capacity

about 7 years ago
AgileTek Makes Its First Buy
Business & Finance

AgileTek Makes Its First Buy

AgileTek Engineering has completed the acquisition of Ryder Geotechnical Ltd, a provider of geotechnical design and consulting services in the offshore wind and subsea oil & gas sectors. Ryder Geotechnical will be run as a subsidiary and will remain a separate legal entity continuing to trade under

about 7 years ago
PivotBuoy Floater Secures EU Funding
Business & Finance

PivotBuoy Floater Secures EU Funding

X1 Wind’s single point mooring system platform for floating wind turbines is set to receive EUR 4 million of EU Commission Horizon 2020 funding. A consortium of nine partners, led by X1 Wind, will deploy a prototype of the PivotBuoy at a test site at the Oceanic Platform of the Canary Islands (PLOCA

about 7 years ago
Maryland Lawmakers Propose Offshore Wind Boost
Business & Finance

Maryland Lawmakers Propose Offshore Wind Boost

Legislators of the U.S. state of Maryland have introduced a bill that would allow at least 1,200MW of additional offshore wind capacity to be built by 2030. If enacted, the Maryland Clean Energy Jobs Act of 2019 (S.B. 516) would require 50% of energy supply to come from renewable energy sources by 2

about 7 years ago
Fred. Olsen Ocean Buys Into United Wind Logistics
Business & Finance

Fred. Olsen Ocean Buys Into United Wind Logistics

Fred. Olsen Ocean has entered into an agreement to acquire a 50% ownership in United Wind Logistics GmbH (UWL) through the contribution of new equity in the amount of EUR 12 million. UWL is a Hamburg-based company offering transport solutions for offshore wind turbine components from manufacturing s

about 7 years ago
New US Pact Targets Fisheries and Offshore Wind Coordination
Business & Finance

New US Pact Targets Fisheries and Offshore Wind Coordination

The U.S. Bureau of Ocean Energy Management (BOEM), NOAA Fisheries and the Responsible Offshore Development Alliance (RODA) have signed a Memorandum of Understanding (MoU) on fisheries and offshore wind coordination. Under the 10-year agreement, the parties will collaborate on the science and process

about 7 years ago
Major Developers Join New York Offshore Wind Alliance
Business & Finance

Major Developers Join New York Offshore Wind Alliance

EnBW North America, EDF Renewables, and Vineyard Wind have joined the New York Offshore Wind Alliance (NYOWA). NYOWA gathers environmental, business, labor, wind industry and community organizations supporting the responsible development of offshore wind power for New York. The New York State’s Gove

about 7 years ago
Equinor Plots Offshore Wind Odyssey in Greece
Business & Finance

Equinor Plots Offshore Wind Odyssey in Greece

Equinor has shown interest in developing floating offshore wind in Greece, a spokesperson from the company confirmed to Offshore WIND. According to Equinor, such a development will require that the Greek authorities open areas and production licenses for offshore wind and that a remuneration system

about 7 years ago
Offshore Wind, Batteries Shine in Cost Reduction Race
Business & Finance

Offshore Wind, Batteries Shine in Cost Reduction Race

The benchmark levelized cost of electricity (LCOE) for offshore wind has fallen 24% since the first half of 2018, according to the latest analysis by BloombergNEF (BNEF). Auction programs for new offshore wind capacity, combined with much larger turbines, have produced sharp reductions in capital co

about 7 years ago
Vattenfall Picks Hollandse Kust Zuid 1&2 O&M Base
Business & Finance

Vattenfall Picks Hollandse Kust Zuid 1&2 O&M Base

Vattenfall has selected the Port of IJmuiden as its home base for operations and maintenance (O&M) activities for the Hollandse Kust Zuid 1&2 offshore wind farm in the Netherlands. Vattenfall said it opted for the Port of IJmuiden due to its proximity to the Hollandse Kust Zuid site, as well as othe

about 7 years ago
Lamprell to Kick Off Moray East Work in Q2
Business & Finance

Lamprell to Kick Off Moray East Work in Q2

Lamprell is on track to cut the first steel for the jacket foundations destined for the Moray East offshore wind farm in the second quarter of the year, according to the company’s latest financial report. Lamprell won the contract to fabricate 45 wind turbine and three substation jacket foundations

about 7 years ago
Van Oord Records Best Year in Offshore Wind
Business & Finance

Van Oord Records Best Year in Offshore Wind

Van Oord’s offshore wind business unit posted record revenue of EUR 706 million in 2018, a 75.2% increase compared to the revenue of EUR 403 million reported in 2017. The increase was attributed to a simultaneous start of four major offshore wind projects: Deutsche Bucht in Germany, Norther in Belgi

about 7 years ago
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