Business & Finance
Business & Finance: Vestas Sets Minimum Guidance, but Strives for More
Vestas issued its annual report for 2013 today, saying that its revenue, EBIT and free cash flow exceeded expectations. An information meeting was held today in Copenhagen, Denmark, where Group President & CEO Anders Runevad and Executive Vice President & CFO Marika Fredriksson provided a deeper ins
Joint Declaration Signed on North Seas Countries Offshore Grid Initiative
Members of European, national and regional parliaments have signed a Joint Declaration on the North Seas Countries Offshore Grid Initiative (NSCOGI) expressing the need for a stronger cooperation among the 10 NSCOGI countries (Belgium, Denmark, France, Germany, Ireland, Luxemburg, the Netherlands, S
Nexans to Provide Offshore Cabling for Gode Wind 1 & 2
DONG Energy and Nexans Deutschland yesterday signed a supplementary contract for the delivery and installation of medium-voltage cables for the German offshore wind farms Gode Wind 1 and 2. This new agreement is part of an outline contract for the delivery of up to 900 km of offshore cables for inte
Isle of Man Invites Offshore Wind, Tidal Developers to Express Interest
The Isle of Man Government has invited expressions of interest from parties seeking to develop offshore wind and tidal energy production in Isle of Man territorial seas. Minister for Economic Development John Shimmin said: “The opportunities for the Isle of Man in renewable energy are significant. F
Local Firms Look Forward to Galloper OWF, while Developers Consider Cutting Stakes
After developers of Galloper Offshore Wind Farm confirmed that they would place the project’s O&M base at the Port of Lowestoft, local businesses welcomed this move, highlighting the importance of the project for the Great Yarmouth and Lowestoft companies. Andy Wood, Chairman of New Anglia Local Ent
Orange Blue Terminal to Handle Riffgrund 1 Foundations
The Orange Blue Terminal (OBT) in Eemshaven, Netherlands will handle and store 77 foundation structures required for the Borkum Riffgrund 1 offshore wind farm. The onshore project coordination, project engineering and execution are in the hands of OBT, operated by the Hamburg port service provider,
Fugro Secures Second Offshore Wind Farm Trenching Contract
In the last few days, Fugro secured two contracts to perform cable burial and survey operations at two wind farm sites in the UK. Beside the recently announced contract for CT Offshore at RWE Innogy’s Gwynt y Môr Offshore Wind Farm off the North Wales coast, the company announced that it had won a s
DONG Energy Sells Half of Its London Array Shares
DONG Energy has today signed an agreement to sell half of its 50 per cent share in the 630 MW offshore wind farm London Array 1 to La Caisse de dépôt et placement du Québec (La Caisse), for a total sum of GBP 644 million (approx. DKK 5,800 million). With this partnership divestment DONG Energy [&hel
Vattenfall Calls for EOI for Horns Rev 3 Works (Denmark)
Vattenfall intends to participate in the call for bids for the concession of Horns Rev 3 offshore wind farm, led by the Danish Energy Agency (DEA). The company has invited Expressions of Interest (EOI) from contractors for the offshore transport of wind turbine generators (WTGs) from the port of pre
RWE Aligns Renewable Energy Division Across Europe
RWE announced that, as of today, its UK renewable energy division is named to RWE Innogy UK, in order to underline the fact that it is part of a single pan-European renewable energy company. This change of name clarifies the company’s position as the UK subsidiary of RWE Innogy, which pools the rene
AXYS Technologies Appoints New Agent for South Korea
AXYS Technologies Inc. has announced the appointment of GeoSystem Research Corporation (GeoSR) as its new agent for the Republic of Korea. The agreement includes representation of AXYS’ marine product line and the WindSentinel™ wind resource assessment buoy. GeoSR has been busy, already securing two
Construction of Alstom’s French Facilities Advances
Construction works on Alstom’s two offshore wind turbine factories in Saint-Nazaire, France, are gaining momentum, the company said via social media. A year ago, Alstom started building these factories for the production of generators and assembly of nacelles for its Haliade™ 150-6MW offshore wind t
Offshore Wind Sparks Belfast Harbour’s Trade Rise
Trade through Belfast Harbour rose by 16% during 2013 with record tonnages of almost 23 million passing through the Port. Over half the increase, 1.7m tonnes, was fueled by an increase of over 150% in coal imports. This reflects a new service through Belfast to supply AES Kilroot power station which
Denmark Approves Dong Capital Increase
Today, the Danish Parliament’s Finance Committee approved the agreement on capital investment in DONG Energy of approx DKK 13 billion. The investment comes partly from new investors, Goldman Sachs: DKK 8 billion, Arbejdsmarkedets Tillægspension: DKK 2.2 billion and PFA Pension Forsikringsaktieselska