Business & Finance
CAD 2.3 Mln for Projects at University of Manitoba
Michelle Rempel, Minister of State for Western Economic Diversification, announced an investment of CAD 2.3 million for two projects at the University of Manitoba to support innovation in Western Canada. With federal funding of $1.8 million, the University of Manitoba’s Technology Transfer Office wi
Nexuns H1 Net Earning Takes Dive
The French cable specialist, Nexans, has reported a net loss of EUR 58 million (profit of EUR 25 million) after taking into account 38 million euros in net cost of debt and a 10 million euro income tax expense. On the other hand, EBITDA came to EUR 167 million, up from EUR 147 million in the first s
Oceanteam Takes Over Cable Storage and Handling Specialist
Oceanteam Shipping ASA has acquired the remaining 48% stake in OCEANWIND BV and is now the sole owner of Oceanwind Cable Storage & Handling Solutions. As a result of the acquisition the company’s name will be changed to Oceanteam Cable Solutions, whereby it can now fully focus and grow its worldwide
Gamesa Doubles Net Profit to €97 Mln
Gamesa obtained €97 million in net profit in the first half of 2015, more than double the figure in the same period of 2014, as a result of expanding commercial activity (+30.8%) and improved profitability. Revenues increased by 30.8% year-on-year in the first half of 2015, to €1,651 million, driven
Marine Power Systems Joins Ocean Energy Europe
Marine Power Systems (MPS), a Swansea-based company that is developing technology designed to harness wave energy, has become a member of Ocean Energy Europe, the industry group for ocean renewable energy in Europe. Marine Power Systems joins a growing list of industry representatives uniting behind
Alstom to Aid GE with European Commission’s Approval
Since the Extraordinary General meeting held on 19 December 2014 which approved the acquisition by General Electric of Alstom’s Energy businesses, both companies have been working with regulators around the world to secure competition and regulatory authorisations. Approvals have already been grante
Oz Research Council Awards Wave Energy Grant
Carnegie Wave Energy Limited will partner with the University of Western Australia (UWA) on a AUD 460,000 project part funded by an Australian Research Council (ARC) Linkage Grant to research and develop more efficient anchoring systems for wave energy converters. The project will use a multidiscipl
Mainstream in Sales Talks over Neart na Gaoithe
Mainstream Renewable Power has decided to divest its stake in a North Sea wind farm. According to the Irish media, Dublin-based offshore wind farm developer is in talks with InterGen and Siemens Project Ventures to sell its 450 MW Neart na Gaoithe. This would be InterGen’s first investment in the of
IMCA Names Technip Man as President
Bruno Faure, Group Senior Vice President Subsea Projects and Operations at Technip, has taken over the role of President of the International Marine Contractors Association (IMCA), the association representing the interests of over a thousand offshore, marine and underwater engineering companies in
Repsol, EDPR to Swap Stakes in UK Projects
Repsol and EDP Renováveis (EDPR) have reached an agreement to swap stakes in two offshore wind project with a total capacity of 1.9GW. According to the agreement, EDPR will acquire 33% stake in the Moray offshore wind project and sell the 49% stake in the Inch Cape offshore wind project. When the
ABB Q2 Net Profit Slips 8%
ABB has reported a drop of 8% in its net profit for three months ending June 30 due to a slowdown in several major markets such as China and the USA. Swiss power and automation firm said its Q2 net income was USD 588 million compared to the USD 636 million for the same period […]
Iberdrola’s Renewables EBITDA Boosted by West of Duddon Sands OWF
Iberdrola has published its interim results for the half year to the end of June, which show that group’s EBITDA rose by 5.7% % and its renewables business EBITDA was boosted by increased capacity from West of Duddon Sands offshore wind farm. “In the first half of 2015 Iberdrola invested more than £
3sun Wins Best Skills Initiative, SPR Offshore Wind Awards
3sun Group has won the Best Skills Initiative Award and the Scottish Power Renewables (SPR) Offshore Wind Award at this year’s EEEGR Awards. The awards celebrate the best of the East of England’s energy industry, honouring the achievements and developments of companies over the past 12 months. Winne
GROW:OffshoreWind Funds New Oil Recovery Vessel
Having designed an innovative oil recovery vessel, Gobbler Boats’ Managing Director Paul Jauncey approached GROW:OffshoreWind for funding to help get the boat into production. GROW:OSW provided £49k towards the cost of the plugs and moulds and the Gobbler Offshore 290 was launched on 4th June 2015.