Business & Finance
TenneT Benefits from Offshore Wind Industry
High-voltage transmission grid operator TenneT continued to provide very high system reliability (99.9999%), benefiting 36 million end-users in the Netherlands and Germany. Financial results in the first half of 2014 were solid. Increases in revenue and EBIT kept pace with the company’s ongoing inve
Offshore Wind Vessel Developed with BEC Funding
An innovative new vessel designed to cope with the most challenging conditions for crews servicing off-shore windfarms has been developed in West Cumbria with the support of an “Investing in Business” grant from Britain’s Energy Coast (BEC). The £90,000 grant has been awarded to Workington-based com
RTE Invites Tenders for Cable Laying Safety Consultancy Services
French Electricity Transmission Network (RTE) is inviting tenders for safety consultancy services. Namely, RTE is seeking a contractor to coordinate health and safety protection during the cable laying in waters off French coast. Covered by this tender are four offshore wind projects awarded during
Wind Plays Big Role in UK Shift to Renewables
RenewableUK says Government statistics released today show that onshore and offshore wind energy is playing the central role in the country’s successful transition from fossil fuels to clean renewables. In its annual Digest of UK Energy Statistics, the Department of Energy and Climate Change says el
Centrica H1 Profit Drop 31 Pct
Centrica reported a profit drop of 31% to GBP 530 million for the first half of 2014 mostly due to loss of GBP 70 million in its gas-fired division. Mild weather in the UK and the Polar Vortex in North America also contributed to this result. Revenues rose 15% to GBP 15.7 billion while operating [&h
Siemens Energy Sector Profit Down to EUR 405 Mln
In the third quarter of fiscal 2014, Siemens posted strong results in most areas, which were affected by challenges in the Energy Sector. Net income rose to €1.4 billion, from €1.1 billion in the prior-year-period. Corresponding earnings per share increased to €1.62 year-over-year from €1.27. Total
Carnegie Releases Quarter Figures
Australian wave energy developer, Carnegie, released its results for quarter ended on 30th June 2014. During the quarter Carnegie Wave Energy Limited focused primarily on its Perth Wave Energy Project (the Perth Project) with the CETO unit assembly and test phase, delivery of the desalination plant
Mammoet Plans to Sell Part of Maritime Fleet to Hebo Maritiemservice
Mammoet Europe B.V., based in Schiedam, The Netherlands, has expressed its intention to sell the largest part of its maritime fleet to the Dutch company Hebo Maritiemservice B.V. This decision was made after review of Mammoet’s company portfolio. As Mammoet increases its focus on offshore activities
Clifford Chance Advises Banks Involved in Westermeerwind
A group of banks led by ING and Rabobank in the role of structuring banks acted as financiers of the Westermeerwind wind farm in the Noordoostpolder that reached financial close. In addition to ING and Rabobank, ASN Bank and Triodos Bank were also is involved and Danish export credit agency EKF guar
TÜV SÜD Certifies 600MW Gemini
Within the scope of certification for the Gemini 600 MW offshore wind farm, TÜV SÜD has successfully completed the design assessment for the wind farm and the certification of two sub-stations. Gemini is located in the Dutch exclusive economic zone (EEZ) in the North Sea, around 85 kilometres off th
Vattenfall Seeking Supervisor for Sandbank Substation Work
Vattenfall is inviting tenders for work on the Sandbank offshore wind farm substation construction. The contractor will be in charge of supervising the steelwork fabrication and corrosion protection of an offshore wind farm substation. The 288MW project is located in the German Bight area, around 90
VIDEO: Scotland Showcases Its Renewable Potential
Scotland has more than doubled its renewable energy output since 2007. Almost half of Scottish electricity is being produced from renewables while it is aiming go fully renewable by 2020. The country has 25% of Europe’s offshore wind and tidal resources and 10% of its wave power. To showcase all the
OPT Shifts Focus to Smaller Scale Devices
Ocean Power Technologies, Inc. released its financial results for its Fiscal 2014 fourth quarter and full-year ended April 30, 2014 (“fiscal 2014”). David L. Keller, Interim Chief Executive Officer of OPT, stated: “Over the last several months, we announced the termination of both the Reedsport, Ore
Centrica Names New Chief Executive
Centrica plc announced the appointment of Iain Conn as Chief Executive with effect from 1 January 2015, at which point he ill join the Centrica Board. Iain will succeed Sam Laidlaw who will retire from the Board on 31 December 2014. Iain will join from BP plc where he has been Chief Executive, Downs