Business & Finance
Tekmar Energy Completes Diverless Cable Protection System Removal
Cable protection systems (CPS) supplier Tekmar Energy has successfully carried out a full-scale demonstration of its products at The Underwater Centre, the subsea training and trials facility based in Fort William, Scotland. The objective of the demonstration was to prove the ability to remove a CPS
US Democratic Senators Introduce Offshore Wind Incentives Act
US Democratic senators Edward J. Markey, representing Massachusetts, and Sheldon Whitehouse, Rhode Island, have introduced The Offshore Wind Incentives for New Development (WIND) Act which would extend the 30 percent Investment Tax Credit for offshore wind through 2025. Last year’s omnibus bill exte
IPO Results Value DONG at EUR 13.2 Billion
DONG Energy has announced the results of its Initial Public Offering (IPO) through which 17.4% of the company’s shares have been allocated to more than 36,000 new investors at the final offer price of DKK 235 (EUR 31.6), leading to a market capitalisation of the company of DKK 98.2 billion (EUR 13.2
E.ON’s Shareholders Greenlight Uniper Spinoff
E.ON’s shareholders have approved the spinoff of a 53.35-percent majority stake in Uniper, with the decision supported by 99.68 percent of the share capital represented at the E.ON Annual Shareholders Meeting. The vote paves the way for the full implementation of the company’s new strategy, E.ON sai
German Federal Cabinet Sends 2016 Renewable Energy Sources Act to Parliament
Germany’s Federal Cabinet has completed the amended 2016 Renewable Energy Sources Act (EEG 2016) which will now be sent to the Parliament (Bundestag and Bundesrat). The amended EEG 2016 includes a draft bill for the development and promotion of offshore wind energy –WindSeeG, which proposes two offs
DONG Shares for Retail Investors Fly off the Shelf
DONG Energy will close initial public offering (IPO) to retail investors with orders up to and including DKK 3 million on 7 June at 4 PM CET, one day earlier than initially planned ”due to the aggregate demand from retail investors exceeding the expected allocation of offer shares to this investor g
TenneT Issues Second EUR 1 Billion Green Bond to Fund Offshore Wind Projects
TenneT Holding B.V. has launched and priced its second EUR 1 billion Green Bond issue to finance the transmission system operator’s offshore wind-related projects. The EUR 1bn dual tranche (10 and 20 year) bond issue, each sized at EUR 500 million with coupons of 1.000% and 1.875% respectively, has
Five Beefed Up MHI Vestas Giants Heading to Blyth
MHI Vestas Offshore Wind has received an order from EDF Energy Renewables for five V164-8.0 MW turbines to be installed at the 41.5 MW Blyth Offshore Demonstrator Project. The V164-8.0 MW turbines – rated with a capacity of 8MW – have been optimised for the project, utilising a power mode to be able
CWind CEO Steps Down
CWind’s Chief Executive Officer (CEO) Chris Randle has decided to leave the company in pursuit of ”new opportunities and challenges.” Ian Douglas, Chairman of the Board of CWind said: “Chris has played an influential role in the development of the business since he joined in April 2014, leading sign
Norwegians Urge for Offshore Wind Demo Sites After Survey Reveals Multi-Billion Potential
Norwegian offshore wind industry representatives have urged the government to create a working strategy for the establishment of full-scale demonstration sites after a survey showed that Norwegian companies valued their export potential in the North Sea offshore wind market between 2025 and 2040 at
Ming Yang Shareholders Say Yes to Going Private
Shareholders of China Ming Yang Wind Power Group Limited voted in favour of the proposal to authorize and approve the previously announced agreement and plan of a merger which if completed would resulted in the privatisation of the company. The merger by and among Ming Yang, Zhongshan Ruisheng Antai
MORL to Open Consultation on Moray Firth Western Development Area
Moray Offshore Renewables Ltd (MORL) has announced intention to open consultation on the development of offshore wind on the remainder of its zone in the Outer Moray Firth off Scotland this month. In 2010, The Crown Estate awarded MORL development rights for offshore wind development in Zone 1 (Mora
DONG Energy Raises IPO Minimum Price Target
The minimum price target for DONG Energy’s shares which are expected to start trading on Nasdaq Copenhagen on 9 June has been raised, Reuters reported a source familiar with the matter as saying. The company’s owners have set a price range of between DKK 220 to DKK 255 per share, as opposed to initi
SeaPlanner Bolsters Development Team
SeaPlanner has hired three new software developers and two new test analysts to meet the needs of its growing project portfolio. The news follows the recent announcements of SeaPlanner being awarded two significant contracts. In April, Dong Energy selected SeaPlanner as the system provider for their