Business & Finance
South Korea to Get Largest Wind Farm in Asia
Dongyang Engineering & Construction Corp. signed an initial deal with local authorities to build two wind farms in a renewable energy complex in southwesternKorea, reported Yonhap News. That will increase power generation capacity of the complex, the largest one in Asia which is located 410 kilomete
Norstec to Help Realise North Sea Potential
Modus Seabed Intervention, one of the North East’s leading subsea specialist companies, believes membership of a new industry partnership will bring even greater success in the North Sea renewable energy market. Provisionally known as Norstec, the partnership is a global network of businesses aimed
Germany Could Increase EUR 5 Billion Offshore Wind Program
The German government is negotiating increase of financial support for the grid operators that are working on connections, reported Bloomberg. The negotiations are a part of an effort to fight delays in connecting turbines to the power grid. As a result, the state may increase a program worth EUR 5
France: AREVA Announces Q1 Revenues Up by 2.4 pct
AREVA generated consolidated revenue of 2.026 billion euros in the first quarter of 2012, up 2.4% (+1.3% like for like) compared with the same period in 2011. The increase in revenue in the Mining Business Group (+11.9% reported, +6.5% like for like), the Reactors & Services Business Group (+5.8% re
France: Reportlinker Announces Wind Energy Maintenance Market to 2020 Report
GBI Research, a leading business intelligence provider, has released its latest research, “Wind Energy Maintenance Market to 2020 – Growth Driven by Increasing Competition between OEMs and ISPs in the Post-Warranty Maintenance Segment”. The report gives an in-depth analysis of the wind energy mainte
Norway: DNV Announces Financial Results for 2011
DNV achieved a 3.7% growth in operating revenue, from NOK 9,792 million in 2010 to NOK 10,156 million in 2011. The operating profit increased by NOK 248 million, or 31%, from NOK 810 million in 2010 to NOK 1,058 million in 2011. The net profit after tax for 2011 came to NOK 730 million, compared [&h
EnBW Implements Measures for Further Investments in New Energy Concept
“The past fiscal year was not an easy year for the energy industry and therefore also not for EnBW. It is all the more pleasing that we were able to create the main conditions for further forward-looking investments, despite the difficult general environment. The measures we have taken to safeguard
UK: Eneco and EDF Team Up to Develop Navitus Bay Windfarm
On 26 April 2012, a 50-50 joint venture has been formed between Eneco Wind UK Ltd (Eneco) and EDF Energy to hold the exclusive development rights to the Navitus Bay Offshore Wind Project, which is part of The Crown Estate Round 3 Offshore Wind Programme. The Crown Estate, owner of the seabed and a p
France: Funds Available for Offshore Wind Developers, Says Green Giraffe
Offshore wind farm developers will be able to fund their projects despite the reduction in support from banks, Green Giraffe Energy Bankers said to Bloomberg. The financing will come from utilities and third parties. “Funding, whether debt finance, equity or other hybrid forms, is there for good pro
Scottish Renewables Responds to Trump Organization and CATS
Responding to evidence from The Trump Organization and Communities Against Turbines Scotland to the Economy, Energy and Tourism Committee, Niall Stuart, Chief Executive of Scottish Renewables said: “Tackling climate change and creating meaningful and sustainable jobs are the two key challenges for t
UK: BOWL Submits Application to Develop Beatrice Offshore Wind Farm
Beatrice Offshore Windfarm Ltd (BOWL) has submitted an application to the Scottish Government for consent to develop the Beatrice offshore wind farm in the Outer Moray Firth. BOWL is a joint venture partnership formed between SSE Renewables (75%), SSE’s renewable energy development division, and Rep
Japan: FHI Assigns Wind Turbine Generator System Business to Hitachi
Hitachi Ltd. and Fuji Heavy Industries, Ltd. have reached a basic agreement on the assignment of FHI’s wind turbine generator system business to Hitachi. Towards the completion of assignment, which is planned for July 1, 2012, Hitachi and FHI will discuss the specific terms of the future agreement.
Germany: Siemens Reports Higher Q2 Revenues by 9 pct
Siemens continued broad-based revenue growth in the second quarter of fiscal 2012. Revenue in the second quarter rose nine percent year-over-year, supported by a strong order backlog. New orders were down 13 percent. Income was considerably below the prior year due to burdens in the Power Transmissi
The Netherlands: Ballast Nedam’s 2012 Profit Forecast Unchanged
Ballast Nedam is holding up in the still deteriorating market conditions and has achieved a revenue and profit approximately in line with those for the first quarter of 2011. Excellent results have been achieved on several major multiyear projects and in niche markets, while the regional infrastruct