Business & Finance
DONG Energy Acquires German Gode Wind 1, 2, and 3
DONG Energy has acquired 100% ownership interest in three offshore wind development projects in Germany, Gode Wind 1, 2, and 3, from PNE Wind AG. The three projects have a total capacity of up to 900 megawatt and are located in the German North Sea approx. 30 km northwest of the island of Norderney.
German Insurers Say No Comment on Buying Tennet’s Business
Munich Re and Allianz, German insurance companies, declined to comment on a newspaper report which says that they were considering buying power grid from TenneT, one of Germany’s transmission system operators. Reuter informs that Munich Re stated that it could not confirm the alleged interest, while
Germany: HOCHTIEF Releases H1 Results
HOCHTIEF generated profit before taxes of EUR 166.1 million in the second quarter of 2012 after incurring a loss in the first three months of the year. The HOCHTIEF Asia Pacific division returned to the black. The troubled Airport Link project, a toll road in Brisbane, was opened to traffic and hand
Belgium: Parker Hannifin Wins Contract for Northwind Offshore Wind Farm
Parker Hannifin Corporation, the global leader in motion and control technologies, has been awarded a contract by Northwind NV, a joint venture of the Colruyt Group and Aspiravi NV from Belgium. The scope of the agreement is for supply of infield array cables, cable accessories and offshore services
German Minister to Discuss TenneT’s Problems with Dutch Government
Philipp Rösler, German Minister of Economy, will meet with the Dutch Government representatives this week and discuss the financial problems that the transmission system operator TenneT is facing, Reuters writes. As reported earlier, due to its financial issues, the company is claimed to be responsi
Germany: E.ON Continues Its Positive Performance
With a strong first half of 2012, E.ON continues its positive performance and confirms its full-year forecast. E.ON’s first-half EBITDA rose by €2.4 billion year on year to roughly €6.7 billion, its underlying net income by €2.4 billion to roughly €3.3 billion. “Our solid first-half results demonstr
Government Could Push TenneT to Withdraw from German Market, Handelsblatt Says
TenneT, a transmission system operator, could be pushed into a withdrawal from the German market by the Government, the Handelsblatt news site learned from unrevealed Government sources. The Government could achieve this by using the certification process, which the Federal Network Agency is current
Modus Secures Major Contract for Teesside Offshore Wind Farm, UK
Modus Seabed Intervention has secured a major contract on EDF Energy Renewables prestigious Teesside Offshore Wind Farm. Main contractor Van Oord’s appointment of Darlington-based Modus, to provide trenching and survey services on this high profile North Sea project, is an acknowledgement of the reg
USA: Sierra Club Foundation Names New Member to Board of Directors
The Sierra Club Foundation announced that Shirley Weese Young, Chicago graphic designer and land conservationist, is the newest member to join the Board of Directors. Young’s resolve to see Chicago become a leader in renewable energy and her commitment to the Sierra Club is inspirational. Passionate
Norway: Oceanteam Shipping Purchases Its Own Shares
Oceanteam Shipping ASA (OTS) has on the 10th of August bought 309,960 Oceanteam Shipping ASA shares in the market at an average price of 3.80 per share. The company owns 309,960 treasury shares following the transaction. Oceanteam Shipping is an offshore shipping company. It operates on a global bas
Denmark: DONG Energy Announces 1H Interim Financial Report
The Board of Directors of DONG Energy has today approved the interim financial report for the first half of 2012 with the following outlook and financial highlights compared with the first half of 2011: First-half 2012 EBITDA was DKK 6.6 billion compared with DKK 9.1 billion in the first half of 201
SgurrEnergy Plans to Expand HQ in Glasgow, UK
SgurrEnergy has announced plans this week to double its workforce as part of a three-year expansion plan, adding to its 10th anniversary celebrations. Having worked on over 65,000MW of renewables projects across 40 countries, plans are afoot to double the size of the company’s headquarters on Bath S
Norway: Kvaerner Pulls Out of Offshore Wind
“The engagement in the wind industry will be discontinued,“ said the Norwegian fabricator Kvaerner in the 2nd quarter and half year 2012 report. The company has delivered 19 of 48 wind jackets including the transformer jacket for the Nordsee Ost project during the second quarter. Kvaerner said that
UK: GBP 2.8 Bn Renewable Energy Investment During Economic Downturn
While many companies and traditional industries have struggled, Scotland’s renewable electricity industry has delivered capital investment of some £2.8bn since the beginning of 2009, according to new figures from Scottish Renewables. The figures are part of a new series of statistics ‘Scotland’s Ren