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Business & Finance

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Norther offshore wind farm with Vestas wind turbines
Business & Finance

Vestas’s Offshore Wind Turbine Order Backlog Stood at EUR 5.5 Billion on 30 June 2024

Vestas has posted its results for the second quarter of 2024 which show the company’s offshore wind turbine order backlog on 30 June was at 4,489 MW and amounted to EUR 5.5 billion, EUR 3.1 billion more than in the same period last year. The total wind turbine order backlog stood at a little over [&

about 2 years ago
RWE to Enter Cancelled New York Project Into One of Upcoming Offshore Wind Solicitations
Business & Finance

RWE to Enter Cancelled New York Project Into One of Upcoming Offshore Wind Solicitations

RWE plans to participate in one of the upcoming offshore wind solicitations in New York with its 1,314 MW Community Offshore Wind project, one of the three cancelled earlier this year as GE Vernova dropped plans for the 18 MW Haliade-X wind turbine which was planned to be used in the projects. Commu

about 2 years ago
The 12 MW Coastal Virginia Offshore Wind demonstration wind farm
Business & Finance

Equinor, Dominion Energy Secure Central Atlantic Offshore Wind Lease Areas

Equinor and Virginia Electric and Power Co, a subsidiary of Dominion Energy, have provisionally won lease areas in the Central Atlantic offshore wind auction in the US, each securing one site. The auction, which yielded almost USD 93 million (around EUR 84 million), saw a total of six companies part

about 2 years ago
A photo from LS Marine and Dong Fang Offshore's signing of the MOU
Business & Finance

LS Marine to Use Dong Fang Offshore’s SOV on South Korean Offshore Wind Projects

Korean company LS Marine Solution and Taiwan’s Dong Fang Offshore (DFO) have entered into a memorandum of understanding (MOU) which will see LS Marine chartering a service operations vessel (SOV) from DFO and participating in offshore wind project bidding in South Korea. According to LS Marine Solut

about 2 years ago
Mingyang Enters Deal with Renexia, Italian Gov’t to Set Up Shop in Italy
Business & Finance

Mingyang Enters Deal with Renexia, Italian Gov’t to Set Up Shop in Italy

Renexia, Mingyang Smart Energy and Minister Adolfo Urso from the Ministry of Enterprises and Made in Italy (MIMIT) have signed a memorandum of understanding (MOU) that will see the Chinese OEM producing wind turbines in Italy and supplying 18.8 MW wind turbines for Renexia’s Med Wind floating wind f

about 2 years ago
Formosa 2 wind turbine
Business & Finance

Taiwan Allocates 2.7 GW of Capacity to Five Offshore Wind Projects, Ørsted Not on List

Taiwan’s Ministry of Economic Affairs (MOEA) has released the list of the projects awarded capacity in the latest offshore wind tender round. Five projects have been selected, totalling 2.7 GW in generation capacity. The projects are the 700 MW Youde (Shinfox), the 800 MW Formosa 6 (Synera Renewable

about 2 years ago
Siemens Gamesa’s UK Blade Factory Workers Secure Pay Deal, Drop Strike Plan
Business & Finance

Siemens Gamesa’s UK Blade Factory Workers Secure Pay Deal, Drop Strike Plan

An industrial action of Siemens Gamesa’s employees in the company’s Hull offshore wind blade factory has been called off as the UK union Unite secured a pay rise worth 8.4 per cent. On 12 July, Unite said around 300 Siemens Gamesa wind turbine workers in Hull were being balloted for strike action ov

about 2 years ago
A photo of the WindFloat Atlantic floating wind farm n Portugal
Business & Finance

Tokyo Gas Makes First Investment in Overseas Floating Wind Project

Tokyo Gas has acquired a 21.2 per cent stake in WindFloat Atlantic, the 25.2 MW floating offshore wind farm in Portugal. WindFloat Atlantic, operated by Windplus, a majority-owned subsidiary of Ocean Winds, has been operational since 2020. According to the Japanese company, this is Tokyo Gas’s first

about 2 years ago
Mammoet Nets Exclusive Heavy Lift Contract for UK’s Offshore Wind Marshalling Site
Business & Finance

Mammoet Nets Exclusive Heavy Lift Contract for UK’s Offshore Wind Marshalling Site

Mammoet has signed a five-year exclusive contract to provide heavy lift and transport equipment and services to Steel River Quay, an offshore wind marshalling facility located in the Teesworks industrial zone in the UK. Under the contract, the Dutch heavy lift specialist will supply specialist field

about 2 years ago
Newly Established Consortium Unveils Plans for 960 MW Floating Wind Project in Chile
Business & Finance

Newly Established Consortium Unveils Plans for 960 MW Floating Wind Project in Chile

A recently launched UK-based renewable energy developer 17 Energy and a Chilean company SC Power have established a consortium with a plan to build a floating offshore wind farm with an installed capacity of 960 MW. The floating wind farm is proposed to be built off the coast of Chile’s Biobío Regio

about 2 years ago
ABP FibreMax
Business & Finance

UK Ports and FibreMax Sign Floating Offshore Wind MoU

Associated British Ports (ABP) and Dutch synthetic mooring solutions provider, FibreMax, have signed a Memorandum of Understanding (MoU) to investigate development opportunities at ABP’s Port of Swansea, as well as the growing potential for floating offshore wind in the region. The partnership aims

about 2 years ago
Spain’s Haizea Gets EUR 35 Million Green Loan for Wind Turbine Manufacturing
Business & Finance

Spain’s Haizea Gets EUR 35 Million Green Loan for Wind Turbine Manufacturing

Spain’s Haizea Wind Group has secured a EUR 35 million green loan from the European Investment Bank (EIB) to enhance manufacturing technologies and research and development (R&D) for wind turbine components. Announced on 2 August, the loan will enable the Spanish company to implement advanced manufa

about 2 years ago
Maryland Sets Aside USD 4.7 Million to Boost Offshore Wind Workforce
Business & Finance

Maryland Sets Aside USD 4.7 Million to Boost Offshore Wind Workforce

Maryland Governor Wes Moore has earmarked USD 4.7 million (approximately EUR 4.3 million) in federal funds for training and job placement initiatives to expand the US state’s offshore wind workforce. The funding, made possible through the US Department of Commerce’s Economic Development Administrati

about 2 years ago
Opinion | The Offshore Wind Industry Is Strengthening American Communities—We Must Not Change Course
Business & Finance

Opinion | The Offshore Wind Industry Is Strengthening American Communities—We Must Not Change Course

This is an op-ed piece by Sam Salustro, Vice President of Strategic Communication at Oceantic Network, the US offshore renewable energy industry organisation. Six months occupied with questions about the upcoming election have muddied the waters, shifting the conversation about offshore wind energy

about 2 years ago
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