Business & Finance
Freudenberg Group Enters American Wind Energy Market
The Freudenberg Group has developed a broad range of technically challenging product solutions and services for the fast growing American wind energy market. Various operating companies of the Freudenberg Group are dedicating considerable effort to the development of renewable energy resources. The
Spain: Gamesa Regains Operating Profitability
The persistence of adverse economic and sector conditions continue to erode Gamesa’s results which, nevertheless, in 1H12 recovers operating profitability and initiates its deleveraging process ahead of schedule in 1H12 (initially slated for the second half), generating a net cash inflow of €100MM i
Germany: Siemens’ Renewables Business Generates Highest Revenue Growth
Siemens felt the impact of a more difficult global market environment in the third quarter of fiscal 2012. Thanks to a solid order backlog and positive currency translation effects, revenue was up ten percent compared to the third quarter of fiscal 2011. On the other hand, new orders were down 23 pe
UK: Turbine Transfers Wins Major Gwynt y Môr Contract
Turbine Transfers Ltd, a wholly owned subsidiary of Holyhead Towing Company, has been awarded a multi-million-pound contract by RWE npower renewables to provide six crew transfer vessels for the Gwynt y Môr offshore wind farm. In addition, the company will provide two more vessels for the German Nor
UK: SSE Issues Interim Management Statement
SSE plc will today hold its Annual General Meeting in Bournemouth. This Interim Management Statement summarises SSE’s performance since the start of the current financial year, which began on 1 April 2012, and includes updates on operations and investments in SSE’s Networks, Retail and Wholesale bus
UAE: Delayed Deliveries Lead to 1H Loss of USD 45 Million for Lamprell
Lamprell, a leading provider of specialist engineering services to the international oil & gas and renewables industry, made the following announcement: Following the Company’s Trading Update of 7 June, the Company has been undertaking a further review of its financial position and as a result has n
Revised Funding to Help Offshore Wind Businesses in Humber, UK
New funding levels for renewables technology will support the Humber’s ambitions to be a world-class centre for green energy, according to an industry leader. Sam Pick, of the Renewables Network, has broadly welcomed the Government’s long-awaited announcement on clean energy subsidy levels. For the
Spain: EDP Renewables 1H 2012 EBITDA Increases to EUR 504 Million
EDP Renewables (EDP Renováveis, Euronext: EDPR), a global leader in the renewable energy sector and the world’s third-largest wind energy producer, announced that in 1H 2012 electricity output increased by 13%YoY to 9.9TWh, as a result of the capacity growth over the last 12 months ( 339 MW), an ave
Germany: RWE Delays Innogy Nordsee Announcement
German utility, RWE has delayed announcement regarding the investment decision for Innogy Nordsee wind farm in the North Sea, according to Handelsblatt. The major reason for the temporary freeze on investment is legal liability risks. The company has planned to start the “Innogy Nordsee 1“ project i
Australia: Oceanlinx Seeks Local Contractors for 1 MW Wave Energy Project
Oceanlinx is searching for local contractors who will build and launch the greenWAVE concrete structure for their1MW wave energy plant. As written in an article of The Border Watch Newspaper, featured on Oceanlinx’s official website, the company’s CEO Ali Baghaei and project analyst Sean Barrett vis
UK Reduces Support for Wind Power
Changes to subsidies for renewable electricity could incentivise between £20 billion and £25 billion of new investment in the economy between 2013 and 2017. The Banding Review for the Renewables Obligation will support jobs and deliver more clean power with a reduction in costs to consumers between
The Netherlands: IHC Lagersmit Becomes IHC Sealing Solutions
IHC Lagersmit BV, a subsidiary of IHC Merwede, has changed its name to IHC Sealing Solutions BV. This change, which came into effect on 6 July, is the result of the continued international growth that the company has experienced in recent years. Additionally, the company’s focus has shifted in past
USA: GE Restructures Its Energy Business
GE announced today that it will reorganize its Energy business into three standalone businesses effective in the fourth quarter of 2012. The Energy headquarters organizational layer will be phased out by the end of 2012. This change will speed decision making, reduce layers and decrease cost. GE Ene
The Netherlands: DNV KEMA Appoints New Supervisory Board Member
Nina Skorupska (50) has been appointed member of the Supervisory Board of DNV KEMA Energy & Sustainability. Skorupska holds the position of Chief Technology Officer, and member of the Executive Board, of Essent. Including Nina Skorupska, DNV KEMA’s Supervisory Board now has six members. The other me