Business & Finance
Offshore Wind Activities Bring Large Profit to Dong Energy
Dong Energy’s EBITDA amounted to DKK 6.3 billion (EUR 844 million) in the first quarter of 2014, which is a large increase compared with DKK 4.6 billion (EUR 616 million) in the same period last year, mainly due to the company’s wind business. Dong Energy released its results for Q1 today, saying th
VIDEO: Siemens’ Ray Thompson Discusses UK’s OW Manufacturing Opportunities
Ray Thompson, Head of Business Development at Siemens Wind Power UK, spoke with GROW:OffshoreWind about the opportunity for UK manufacturing, following the recent decision by Siemens and the UK’s Associated British Ports to invest £310m in UK wind farm turbine factories. There is a number of current
Areva’s Earnings Struck by Global Tech 1 Delays
Global Tech 1, 400W wind farm in the North Sea delivered a harsh blow to Areva, according to the first quarter results of 2014 issued yesterday. The company said that additional costs were a result of “delays experienced over the winter during the offshore installation and turbine testing phase.” Th
Aker Solutions to Advance Its Business by Creating Two Companies
Aker Solutions will split into two companies to speed up a streamlining process that will reduce costs and better position all parts of the group to meet the needs of customers in an increasingly competitive global energy industry. The Subsea, Umbilicals, Engineering and Maintenance, Modifications a
OPT Makes Changes to Its Board of Directors
Ocean Power Technologies, Inc. (OPT), today elected Eileen M. Competti to the Company’s Board of Directors. In addition, the Company announced the retirement of Dr. George W. Taylor from the Board of Directors. Ms. Competti is currently Vice President, Global Competitiveness for The Babcock & Wilcox
REview: Renewables Expecting £64 Bln of Investment by 2020
The renewable energy industry has attracted almost £30 billion of private sector investment since 2010. This investment has enabled the industry to sustain over 100,000 jobs in 2013 and deliver 4.2% of UK energy. These are the findings of a new report published today by the REA: REview – Renewable E
CMS-Geotech Opens Operations Base in Lowestoft
CMS-Geotech Ltd has launched its new operations base in Lowestoft, Suffolk providing specialist marine geotechnical support to a wide variety of marine sectors in both offshore & coastal waters. CMS-Geotech will specialise in geotechnical equipment hire, geotechnical surveys & seabed sampling, speci
DOE to Hold Informational Webinar on Wave Test Funding Opportunities
On Wednesday, May 7, the U.S. Department of Energy’s (DOE) Water Power Program will hold an informational webinar on the Marine and Hydrokinetic (MHK) Demonstrations regarding the recent announcement of funding opportunities at Navy’s Wave Energy Test Site. The Energy Department-supported demonstrat
International Business Helps Iberdrola’s Net Earnings
IBERDROLA net earnings rose 8.4% in the first quarter to 952.6 million, while recurring net profit excluding extraordinaries was 4.6% lower at €848 million. Ebitda was 0.3% lower at €2,126.5 million. First quarter results reflect solid operating performance across the businesses, although affected b
Scour Prevention Systems Secures SCORE Funding
Lowestoft-based company, Scour Prevention Systems, which offers a field proven, patented and innovative solution for the prevention of scour around offshore structures and cables was successful in securing £10,000 funding in the pilot stage of grant programme Supply Chain innovation for Offshore Ren
PWE Recruitment Group Secures GBP 10,000 Offshore Renewables Funding
Having successfully secured £10,000 funding through the recently launched Supply Chain innovation for Offshore Renewable Energy (SCORE) grant, Beccles-based specialist energy recruitment company, PWE Recruitment Group Ltd, has launched an innovative outsourced recruitment project with Great Yarmouth
Carnegie’s Q1 Busy and Successful
Carnegie Wave Energy Limited (CWE) released its quarterly report today, highlighting successful project and financial activities. During the first quarter, CWE focused primarily on its Perth Wave Energy Project with the completion of the foundation and pipeline installation, delivery of the buoyant
GE Offers $16.9 Bln for Alstom Thermal, Renewables, and Grid Businesses
GE and Alstom announced today that GE has submitted a binding offer to acquire the Thermal, Renewables (“Power”) and Grid businesses of Alstom (ALO.PA) consisting of $13.5 billion (€9.9 billion) enterprise value and $3.4 billion (€2.5 billion) of net cash, totaling $16.9 billion (€12.35 billion). Th
ABB to Bring Its Power Systems Business into Line
ABB has launched a “step change” program in its Power Systems division to thoroughly transform the business that faced a loss in the first quarter of 2014, the company said today as it released Q1 results. ABB’s operational EBITDA in Q1 is 13% down, compared to the same period of last year, mainly d