Business & Finance
Pelamis Wave Power to Raise Funds for Innovative Work (UK)
Pelamis Wave Power is looking for a buyer to raise funds for its giant sea snake. Pelamis is pursuing efforts to acquire GBP 10 – 20 million for the development. Among potential buyers are BAE Systems, Rolls-Royce, Weir, Siemens, Caterpillar, ABB and Alstom, reports Scotsman. [mappress] Offshore WIN
Dong Energy Issues GBP 750 Million Bond (Denmark)
DONG Energy A/S has successfully issued a GBP 750 million bond with a maturity of 20 years. The issuance was made under the company’s existing debt issuance programme (EMTN programme). Key details of the transaction: Size: GBP 750 million Maturity date: 12 January 2032 Coupon: 4.875 % Spread over Gi
DeepOcean Group Appoints New CEO (Norway)
DeepOcean Group Holding AS (“DeepOcean Group” or “the Company”), an integrated provider of subsea engineering and trenching services, today appointed Bart H. Heijermans as their new CEO effective February 1, 2012. The announcement represents the next step in DeepOcean Group’s development into a lead
Finland Slowly Develops Offshore Wind Power
There were only a few Finnish stands at the EWEA OFFSHORE 2011 conference in Amsterdam, but several Finnish participants were listening to the interesting presentations, visiting the stands and meeting colleagues during the exhibition. In Finland there are about ten large offshore projects under dev
Keppel Acquires Stake in Offshore Wind Turbine Foundation Specialist (Norway)
KV Ventus B.V., a wholly-owned subsidiary of Keppel Corporation Ltd. (Keppel) has today entered into a share purchase and subscription agreement and shareholders’ agreement to acquire a 49.9% stake in offshore wind turbine foundation designer OWEC Tower (AS) for about NOK 61 million. OWEC Tower, hea
Companies Plan to Invest GBP 2.5 Billion into UK Renewable Energy Projects
Chris Huhne revealed more evidence of the economic benefits of renewable energy as he reaffirmed the coalition’s commitment to meeting EU renewable energy targets. This came as the UK published an update on progress to source 15% of all energy from renewable sources by 2020. Latest research from DEC
University of Oldenburg Wins EUR 3.8 Million for Offshore Wind Research Project (Germany)
Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) will sponsor the new research project, GW Wakes, on offshore wind energy at the University of Oldenburg, with 3.8 million euros over the next three years. The aim is to study the wind currents and wakes in large offsh
Carnegie Raises USD 6 Million (Australia)
Wave energy developer Carnegie Wave Energy Limited announced that its Share Purchase Plan has closed oversubscribed and raised $6 million. Carnegie had previously announced on 1 December 2011 that it had initiated a capital raising via a Share Purchase Plan (“SPP”) of $4 million with capacity for a
PNE Sells Gode Wind II to Brancor Capital Partners (Germany)
The wind farm project developer, PNE WIND AG is selling its shares in PNE Gode Wind II GmbH, in which the offshore wind farm project “Gode Wind II” is being developed, to HYSSING Vermögensverwaltungsgesellschaft mbH, which is held by the Danish Brancor Capital Partners APS. The agreed purchase price
Golf Club to Make Decision on Aberdeen Offshore Wind Farm (UK)
Members of one of the oldest golf club in the world will make a decision regarding a proposed wind farm offshore Aberdeen. Royal Aberdeen Golf Club director Ronnie Macaskill said that he expects the decision to be made in January. The European Offshore Wind Deployment Centre is being developed by Ab
NRG Cancels Long-term Power Purchase Agreement with Delmarva Power (USA)
NRG, the parent company of Bluewater Wind, notified Delmarva Power it is cancelling the long-term power purchase agreement with Delmarva Power… (newarkpostonline) [mappress] Source: newarkpostonline, December 28, 2011
SIAG Report Negative Results for First Nine Months of 2011 (Germany)
The SIAG Schaaf Industrie AG, a leading supplier of onshore and offshore wind energy, reported an income of EUR 114.6 million according to preliminary figures for the first nine months of 2011. The group’s profit was negative € -11.5 million. Their capital dropped from € 16.0 million to 4.4 million.
Long Pause Blurs Balance of Wind Farm Baltic 1 (Germany)
The four-week break in the fall accident has marred the balance of the first German offshore wind farm in the Baltic Sea “Baltic I”. “Generating electricity from the September 17th to October 15th was very good and was on schedule, “said the spokeswoman of the energy group EnBW, Friederike Eggstein.
Tidal Transit Plans Great Offshore Wind Investment (UK)
A Docking based company is planning major investment into offshore wind industry. They are planning to invest GBP 10 million to acquire 8 boats. Earlier this month, Tidal Transit has purchased two state-of-the-art, purpose-designed 20 meter support vessels to transport construction workers and maint