Japanese shipowner Mitsui O.S.K. Lines (MOL) has signed an agreement to form a capital alliance by acquiring most of the outstanding shares of its compatriot Hokutaku. According to MOL, Hokutaku is the largest third-party wind turbine maintenance company in Japan covering about 80 per cent of the ap
OX2 and its partner Ingka Investments have signed a cooperation agreement with the Swedish electric power distribution company, Ellevio, and submitted applications for connection of the Galene offshore wind farm in Sweden. The 400 MW Galene, the northern part of the 1.7 GW Galatea-Galene project, wi
Eversource Energy expects to record an impairment charge of between USD 1.4 billion and USD 1.6 billion related to three offshore wind projects in the United States the company owns in partnership with Ørsted. The New England utility is currently in the process of divesting its 50 per cent ownership
The offshore wind industry has faced significant headwinds in the past couple of years, with most of the negative effects tracing their origin back to the start of the COVID-19 pandemic and the geopolitical turmoil caused by Russia’s aggression against Ukraine. This has led to supply chain instabili
Iberdrola and the World Bank, through its private sector investment arm, the International Finance Corporation (IFC), have signed a EUR 300 million loan agreement to develop renewable energy projects in countries dependent on fossil fuels, including Morocco, Poland and Vietnam. IFC has already alloc
The Dutch offshore wind foundation manufacturer, Sif, has received a notice of termination of its Empire Wind 2 monopile contract from the joint venture owned by BP and Equinor, who have just terminated their Offshore Wind Renewable Energy Certificate (OREC) agreement for the 1,260 MW project with t
With the termination of the Offshore Wind Renewable Energy Certificate (OREC) agreement for the Empire Wind 2 offshore wind project, BP and Equinor have cancelled the contract for the project’s offshore substation (OSS) with the Singapore-based company Seatrium. As reported earlier today, 4 January,
The US joint venture between BP and Equinor has agreed with the New York State Energy Research and Development Authority (NYSERDA) to terminate the Offshore Wind Renewable Energy Certificate (OREC) agreement for the 1,260 MW Empire Wind 2 offshore wind project that recently obtained federal approval
Yunneng Wind Power, the company responsible for the construction and operation of the 640 MW Yunlin offshore wind project in Taiwan, has received the necessary approvals from Taiwanese authorities to enable the completion of its financial restructuring announced in August 2023. Approvals for the ext
Updates on wind turbine technology and new offshore wind projects, including those facing major challenges, marked 2023 on offshoreWIND.biz. In the article below, we have compiled our ten most-read news last year, together with some of their related updates and stories. In February 2023, Vestas reve
Vestas has signed a preferred supplier agreement with Hanwha Corporation E&C Division for the 390 MW Shinan Ui offshore wind project in Shinan County, South Jeolla Province, South Korea. The project is developed by Shinan Ui Offshore Wind, a special-purpose company established by Hanwha Corporation
Northland Power has closed the transaction with Gentari International Renewables through which Gentari acquired 49 per cent of Northland’s ownership in the Hai Long offshore wind project located in Taiwan. Northland now holds a 30.6 per cent ownership interest in the overall project and will continu
Vineyard Wind 1, the 806 MW offshore wind farm that Copenhagen Infrastructure Partners (CIP) and Avangrid are building off Massachusetts, has created 937 union jobs during the two years of the project’s construction. With more jobs coming in 2024, Vineyard Wind 1 will have created more than 1,000 un
South Korean Taihan Cable & Solution has acquired what is said to be Korea’s only cable-laying vessel (CLV) for the offshore wind market. Taihan, which announced the purchase on December 20, bought the vessel for approximately USD 38.4 million (EUR 34.7 million). The CLV, equipped with self-propulsi
