The Norwegian Export Credit Guarantee Agency (GIEK) has issued a buyer credit guarantee for the new WaveCraft Surface Effect Ship Umoe Firmus, constructed at Umoe Mandal shipyard. GIEK has guaranteed for loan issued by Export Credit Norway corresponding to 70 percent of the loan amount, while DNB ha
Offshore wind projects in construction across the UK in 2016 will generate GBP 5.9 billion of investment within the country over the next five years of development and construction activity, according to RenewableUK. Construction activity is currently underway on six offshore wind projects, with ons
The Dutch Senate’s vote against the new electricity and gas legislation yesterday evening is expected to delay the construction of new offshore wind farms by at least six months, according to Dutch minister of economic affairs Henk Kamp. “What you have achieved is to create a big problem for offshor
The Canary Islands could meet their entire electricity requirements from renewable energy sources by 2050 at under half the price needed to finance the existing oil dependent system, according to a study produced and published by the German Aerospace Center (Deutsches Zentrum für Luft- und Raumfahrt
Canada’s Beothuk Energy has revealed plans to build a 1 gigawatt offshore wind farm off the coast of Nova Scotia. The project is estimated to cost CAD 4 billion (USD 2.87bn). Beothuk is proposing to manufacture and install the wind farm in shallow waters off Canada’s southwest coast. The power gener
WindMW, the company behind the Meerwind offshore wind farm, has issued a EUR 978 million in bonds to refinance an existing bank debt for the construction of the 288MW offshore wind project. The bonds were issued on 17 December 2015 to a group of around 20 international institutional investors and be
Stavanger-based subsea company Ocean Installer has been awarded an offshore wind contract with Norddeutsche Seekabelwerke GmbH. The scope of work includes recovery of two pre-laid HVAC export power cables in the 500 m zone of the Gode Wind 1 offshore sub-station, relay of the cable, installation of
Danish consultancy Cowi has won a contract to design India’s first offshore wind farm and to head capacity building within the Indian authorities, including preparation of an offshore wind policy. The wind farm is to be located off the coast of Gujarat in northwestern India. The size of the demonst
Germany’s offshore wind farms have generated 1.3% of the overall energy produced country-wide in 2015, a 550% increase compared to a 0.2% contribution by offshore wind turbines in 2014, according to the data released by the German Association of Energy and Water Industries (BDEW). Overall, energy ge
O&M companies operating in Europe can expect off-warranty revenue to increase by up to ten times by 2025 as the offshore wind industry matures and turbines exit their warranty periods, according to the latest research note by market analysts MAKE. The industry is looking increasingly into new strate
Energy Secretary Amber Rudd might have given the nod that offshore wind would be in favour for this parliament but the industry is still in the dark about the detail, director of the East of England Energy Zone (EEEZ) James Gray told the Offshore Wind Vessels conference in London. The industry neede
Hamburg-based HSH Nordbank will, for the first time ever, set aside more than EUR 1 billion to finance clean energy projects in 2016, the state-owned lender told Bloomberg. HSH Nordbank was the biggest lender to green companies in 2014, and has distributed around EUR 900 million in loans to renewabl
Denmark-headquartered technical consultancy for the wind industry K2 Management increased its revenue by 30 percent and grew the number of employees by 40 percent in the Fiscal Year 2015. Turnover for the financial year running from 1 October 2014 to 30 September 2015 was EUR 10.44 million, with an
Samsø Turbine Broke Off Due to Welding Crack A fracture in the welding that connects the tower top flange with the tower had caused the breaking of the turbine Number 7 at the Samsø (Paludans Flak) offshore wind farm, Siemens said in a statement. Offshore Wind Trumps Trump This morning, the UK’s Sup
