Business & Finance
Lower Output in UK Hurts Iberdrola
Spanish energy company Iberdrola marked a 3 percent dip in gross operating profit (EBIDTA) at its renewable energy division in the first six months of 2016, with lower production in the United Kingdom being identified as the main culprit behind the slide. The company recorded EUR 836.5 million EBIDT
France Approves Two Pilot Floaters
The French Environment and Energy Management Agency (ADEME) has approved two floating wind pilot projects as part of the country’s call for tenders for the development of floating wind launched last year. The two project approved by the ministry are the 24MW project in the Gruissan area, some 15 kil
GE Sees More Revenue, Less Profit from Renewables
GE Renewable Energy marked an 11 percent decrease in profit for the three months ended June 30, 2016, compared to the same period a year earlier, despite significant improvements in revenue. The profit for the second quarter stood at USD 128 million, as opposed to USD 144 million recorded in the sec
Oceanteam Shipping Gets New Captain
Oceanteam Shipping has appointed Holger Reurslag, an experienced offshore energy player with a 25-year career in the offshore construction, drilling and production sector, to the role of the Company Captain. As the Company Captain, Reurslag will be responsible for a wide range of managerial tasks, i
Top News of the Week, 18 – 24 July, 2016
Rough Sea Ahead for German Offshore Wind, Industry Says The new German Renewable Energy Sources Act (EEG) means troubled waters for the German offshore wind industry, according to a press release jointly issued by AGOW (Arbeitsgemeinschaft Offshore-Windenergie), Stiftung OFFSHORE-WINDENERGIE, VDMA P
Navantia Hands Over First Jackets to Iberdrola
Navantia has delivered the first jacket foundations to Iberdrola for its Wikinger offshore wind farm located in the German part of the Baltic Sea.
High Voltage Cable Market to Reach USD 41 Billion by 2021
The global high voltage cables and accessories market is expected to be worth USD 41.27 billion by 2021, at a CAGR of 6.0% from 2016 to 2021, according to a market research by Markets and Markets. The growth of the offshore wind sector is a major factor driving the market, the report says. The under
UK SMEs Can Score with New GBP 6 Million Offshore Renewables Fund
OrbisEnergy today launched a GBP 6 million fund which provides grants of up to GBP 50,000 through the SCORE programme to support small and medium sized businesses developing new technologies in Cambridgeshire, Essex, Norfolk, and Suffolk. Oil and gas companies looking to diversify into offshore rene
GE Names New Head of Power Conversion
GE has appointed Azeez Mohammed as the President and CEO of GE Energy Connections’ Power Conversion business, effective July 11, 2016. Mohammed comes to Power Conversion from his most recent role as President and CEO of GE’s Power Services business for Middle East and Africa. Responsible for continu
Synergy with Offshore Wind Could Bring the Best Out of Oil&Gas
Decommissioning of offshore oil and gas structures should be the last resort, an industry event was told recently. To make the most of the last reserves of near-end-of-life wells and platforms, operators must look for synergies with other energies, like offshore wind, to share facilities for the gre
Subsea UK Encouraging Businesses to Diversify into Offshore Wind
With global offshore wind expenditure expected to reach GBP 210 billion over the next ten years, Subsea UK is encouraging companies to expand into the renewables sector to sustain long-term growth. Neil Gordon, chief executive of Subsea UK, said: “While oil and gas remains the dominant energy indust
Offshore Wind to Boost Turbine Gear Oil Market
Rise in offshore installations will significantly augment the global wind turbine gear oil market until 2020, according to Technavio’s latest market research report. The global wind turbine gear oil market is expected to record a CAGR of more than 13% until 2020, the report says. Countries across th
BNEF: Biggest RE Asset Finance Made in European Offshore Wind
Asset finance of renewable energy projects in the first half of 2016 was at USD 92 billion worldwide, down 19% on H1 2015, with the biggest asset finance deals of the second quarter made in offshore wind in Europe, according to the latest data from Bloomberg New Energy Finance (BNEF). This was led b
MeeMaken Acquires Offshore Lifting System Provider
MeeMaken BV, an owner of several companies providing services to the offshore energy industry, has taken over the Kenz Figee Group, a specialist in design, manufacturing and maintenance of offshore lifting and hoisting systems. The former senior management at Mammoet, Roderik van Seumeren and Natasj