Business & Finance
OWIM 2013: Reducing Risks in Offshore Wind Contracting
This year’s Offshore Wind Installation and Maintenance (OWIM) Conference, a side-event of the Offshore Energy Exhibition & Conference, dedicated a session to the risks in offshore wind contracting. The session was held under the title Managing and Reducing Interface Risks in Contracting, and was cha
Offshore Energy 2013: Take a BOW for Offshore Wind
BOW Terminal is growing along with the offshore wind sector. The company is advancing its business by investing in further improvements. Offshore WIND spoke to Arjen Pattenier, Business Unit Manager of BOW Terminal, at this year’s Offshore Energy event in Amsterdam. Offshore WIND: First of all, I wa
Australia: Carnegie Receives Research and Development Tax Incentive
Wave energy developer Carnegie Wave Energy Limited announced the receipt of a Research and Development Tax Incentive cash rebate from the Australian Tax Office of $2.26 million. The R&D Tax Incentive provides a tax rebate to support Australian companies to undertake research and development in Austr
IBERDROLA’s 9-Months Results Negatively Impacted by Increased Regulatory Costs
IBERDROLA’s 9-months results have been negatively impacted by increased regulatory costs in Spain and the UK as well as other factors which have led the Company to reduce shareholder remuneration. Positive business activity, including efficiency gains, have reduced the impact on Ebitda to a net €240
Tennet Secures EUR 500 Million from EIB
Electricity transmission system operator, Tennet, has secured EUR 500 million from the European Investment Bank to fund offshore grid connections in the North Sea. Tennet will construct and maintain three separate offshore grid connections, HelWin1, SylWin1 and DolWin1, to the German Electricity Gri
Denmark: Dong’s 9M EBITDA Up to DKK 11.2 Billion
The Board of Directors of DONG Energy has today approved the interim financial report for the first nine months of 2013 with the following financial highlights compared with the first nine months of 2012: — EBITDA for the first nine months of 2013 was DKK 11.2 billion compared with DKK 6.6 billion f
UK: New Project Pass ‘First Hurdle’ in Securing Government Infrastructure Guarantee
Energy, road and rail projects worth £33 billion have passed the first hurdle in getting a government infrastructure guarantee, Chief Secretary Danny Alexander has announced today. Forty projects are now at the stage known as pre-qualification, meaning they are eligible for the UK Guarantee scheme.
UK: Levenmouth Area Committee Members Visit World’s Largest Turbine
Members of the Levenmouth Area Committee paid a visit to Samsung Heavy Industries at Methil’s Energy Park Fife this week to find out about progress on the world’s largest and most powerful turbine. Last week the tower and nacelle of the turbine were erected and this week work began on installing the
Statoil Cancels Wind Project Offshore Maine, USA
The Norwegian energy company, Statoil, has decided to drop the offshore wind project off Maine’s coast, writes Press Herald. Statoil was planning to deploy four floating wind turbines offshore Boothbay Harbour. The main reason for Statoil to cancel this USD 120 million project was political uncertai
Offshore Wind Cost Reductions Achievable, Says JIP WiFi
Wind turbines at sea could be much cheaper. The members of the Joint Industry Project ‘Wave Impact on Fixed turbine’ (JIP WiFi) are convinced that cost reductions are achievable. The design rules currently used to determine the impact of breaking waves on the turbines are very conservative. The thin
Finland: WinWinD Files for Bankruptcy
WinWinD has submitted a voluntary petition on bankruptcy to the District Court on October 3, 2013. The District Court has allowed the petition and appointed Attorney Pauliina Tenhunen as the Administrator to take care of the further process. WinWinD has been incurring heavy losses for the past sever
SSE: Labour Party Price Capping Could Jeopardize Offshore Wind Investment
SSE has warned that the U.K. opposition Labour Party could delay investments in offshore wind due to their plan to cap energy bills if they win the 2015 elections, writes Bloomberg. SSE spokesman Justyn Smith said: “Although we are continuing to develop offshore wind projects, it’s now also becoming
UK: GIB Invests GBP 58.6 Million in London Array
The UK Green Investment Bank (GIB) today announced a £58.6 million investment in the world’s largest offshore wind farm – London Array. The investment will refinance a significant portion of Masdar’s 20% equity stake in the project. GIB’s senior debt commitment is being made alongside co-lenders: Th
UK: Adur and Worthing Councils Worried about Job Creation from Rampion OWF
Adur and Worthing councilors held a meeting of their joint planning committee regarding the Rampion offshore wind farm, at which they expressed their skepticism about the benefits that the development could bring to the area. The councilors believe that of the 1,000 jobs that are said to be created