Business & Finance
Top News of the Week May 23 – 29, 2016
Borssele Tender Attracts 38 Bids, Cost Reduction Main Priority The tender for the 700MW Borssele I&II offshore wind farm zones has attracted 38 bids and the first impression is that the wind developers have put a lot of effort in driving down the costs, the Dutch media cited Henk Kamp, the country’s
DECC Pushes Hornsea Project 2 Decision Back by 2 Months
The UK Energy and Climate Change Secretary Amber Rudd will have additional two months to decide whether or not to give DONG Energy the approval to build the 1.8GW Hornsea Project Two wind farm after the deadline was extended to allow further examination on the project’s impact on marine life. More s
Gwynt y Môr Keeps Giving Back
RWE Innogy UK has pledged further GBP 383,000 to north Wales communities from the community fund linked to the 576MW Gwynt y Môr offshore wind farm, bringing the total amount invested in the area from the wind farm to over GBP 500,000 since the fund was launched in June 2015. 30 not-for-profit group
German State Charts Out Offshore Wind Territory
The Cabinet of Mecklenburg-Vorpommern has adopted a new spatial development programme (LEP) which identifies 185 square kilometres suitable for development of offshore wind farms off the German northern state’s Baltic coast. 13 square kilometres out of the total area identified as suitable for offsh
Julius Signal to Boost Tideland’s Aids to Navigation Portfolio
Tideland Signal Corporation, now part of Xylem, has entered into a definitive agreement to acquire certain assets of Julius Signal, extending its portfolio of marine and offshore aids to navigation offerings. Julius Signal originated from Pintsch Aben’s marine and aviation signalization business. Ti
Offshore Energy 2016: Registration Open
The registration for Offshore Energy Exhibition & Conference 2016 (OEEC 2016) is now open. The ninth edition of this event is expected to attract 11,500 offshore professionals and more than 650 exhibiting companies. Offshore Energy is an annual event focused on the complete offshore energy industry.
Natural Power Moves French Head Office Closer to Offshore Wind Action
Scotland-headquartered renewable energy consultancy Natural Power is transferring its French head office functions to Nantes to be closer to the offshore wind farm projects in the Pays de la Loire, and to take advantage of the region’s attractiveness which facilitates the recruitment of executives w
Lithuania Clearing Path for Offshore Wind Projects
The Lithuanian Cabinet has approved amendments to the country’s renewable energy law aimed at kick-starting development of offshore wind power generation in the Baltic Sea. Lithuanian Prime Minister Algirdas Butkevičiaus said that this is a long-term project and that the construction of the first wi
DONG Sets Out IPO Offering and Price Range
DONG Energy will sell up to 17.4% of the existing shares through the Initial Public Offering (IPO) scheduled for June 2016, with the indicative prince range set at DKK 200 to DKK 255 per share, corresponding to an implied market capitalisation of the company of DKK 83.5 billion to DKK 106.5 billion
MacArtney Acquires German Subsea Equipment Provider
MBT GmbH, part of the MacArtney Group, has acquired Bremen-based CPU GmbH, provider of equipment for underwater technical systems, as of 1 April 2016. CPU GmbH remains an independent entity with Christoph Reuter carrying on his job as Managing Director of the company. CPU GmbH will relocate to the I
New Guide Shows Oil and Gas Players the Way to GBP 210 Billion Offshore Wind Bounty
BVG Associates (BVGA) has, on behalf of Scottish Enterprise, produced a guide to highlight the opportunities for the oil and gas supply chain in the GBP 210 billion global offshore wind CAPEX and OPEX expected by 2025. The global oil and gas downturn continues to significantly impact the North Sea o
Eneco Seeks EUR 450 Million EIB Loan for Norther Offshore Wind Project
Eneco Holding N.V. has applied for a EUR 450 million loan at the European Investment Bank (EIB) for the construction of the 370MW Norther offshore wind farm in the Belgian North Sea. The application is currently under appraisal EIB said, without specifying when the final decision will be made. The N
Regen SW: Who Actually Owns UK Offshore Wind?
Regen SW published an article titled “UK Offshore wind: Who actually owns it?” today. You can read the article below. Recent weeks have seen mixed news for the offshore wind sector in the UK, including the positive announcement of the final investment decision for 588 MW Beatrice and the more disapp
Linklaters Helps Bring Beatrice to Financial Close
London-headquartered law firm Linklaters has advised SSE Renewables, Copenhagen Infrastructure Partners and SDIC Power on the construction and financing of the GBP 2.6 billion Beatrice offshore wind farm. Linklaters advised on all aspects of the project, including on the GBP 1.9 billion debt financi