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States, DOE call for proactive transmission planning now Industry risks an extra $20 billion, 2,000 miles of cabling Atlantic Coast states and energy regulators are working to avoid the looming cost of plugging offshore wind into the nation’s power grid as the industry confronts rising inflation and project cancellations. The push to improve regional power… Read More
It has been a hard year for Ørsted. High interest rates and supply chain bottlenecks have rocked the world’s largest offshore wind developer. Earlier this month, Ørsted wrote down the value of its U.S. portfolio by $4 billion after canceling two projects off New Jersey. The company’s stock price has lost more than half its value… Read More
Iapetus Holdings LLC, a privately held portfolio of energy and utility services companies and alternative investments, is pleased to announce the appointment of Robert Gilbert as the company’s new Chief Financial Officer (CFO). Gilbert brings more than fifteen years of executive experience, including CFO roles, to the Houston-based company. His valuable contributions have impacted the success of… Read More
The pier on the Connecticut coast is filled with so many massive oddities that it could be mistaken for the set of a sci-fi movie. Sword-shaped blades as long as a football field lie stacked along one edge, while towering yellow and green cranes hoist giant steel cylinders to stand like rockets on a launchpad…. Read More
McDermott has received a limited notice to proceed for an engineering, procurement, construction and installation (EPCI) contract from Shell Trinidad and Tobago Limited for the Manatee gas field development project, located off the east coast of Trinidad and Tobago. Subject to Shell taking a final investment decision, the Manatee project scope is for the design,… Read More
Belgian offshore wind developer Parkwind has completed turbine construction works on the 257-MW Arcadis Ost 1 wind farm with the erection of the last three machines in the German Baltic Sea. The company boasted that the last of the total of 27 turbines at the Arcadis Ost 1 farm were installed in less than eight… Read More
Detroit is known for automobile manufacturing. San Francisco is known for technology. Hampton Roads hopes to be known for offshore wind development. In 2020, the Virginia Clean Economy Act, an ambitious roadmap to decarbonize the state’s electric grid by midcentury, was signed into law with provisions encouraging the development of thousands of megawatts of offshore… Read More
New York’s First Offshore Wind Project Marks Historic Milestone in Offshore Construction 130-Megawatt Project Will Generate Enough Renewable Energy to Power Approximately 70,000 Long Island Homes Supports Progress Toward State’s Climate Leadership and Community Protection Act Goal to Develop Nine Gigawatts of Offshore Wind By 2035 Turbine Photos Available Here Traducción al español Governor Kathy Hochul… Read More
The Biden-Harris administration today announced its approval of the Empire Wind offshore wind project – the sixth approval of a commercial-scale offshore wind energy project under President Biden’s leadership. Today’s announcement supports the Administration’s goal of deploying 30 gigawatts of offshore wind energy capacity by 2030. Empire Wind US LLC proposes to develop two offshore… Read More
In recent months, East Coast states’ plans to install massive new offshore wind farms have been battered by bad economic news, canceled contracts and newfound uncertainty about the projects officials are counting on to reach their clean energy goals. Despite the setbacks, state leaders say they don’t intend to dial back their offshore wind ambitions…. Read More
After more than two decades of proposing and planning, offshore wind is up and spinning. Fifteen miles off the coast of Matha’s Vineyard, the Vineyard Wind Project is installing 62 massive turbines. They estimate that this $4 billion project will power 400,000 homes and businesses. But some environmentalists believe the project could cause more harm than good. Offshore… Read More
Last week, the Egyptian government, represented by the Egyptian Electricity Transmission Company (EETC), signed a milestone agreement with Jan De Nul Group to start the study for the construction of an undersea export cable between Egypt and Europe. In late September, the Egyptian government reaffirmed its plans to build an undersea electricity cable connecting Egypt… Read More
Rotterdam, the Netherlands, 21 November 2023 – Van Oord’s offshore installation vessel Aeolus successfully installed the first of 12 turbines at the South Fork offshore wind farm. South Fork is the first offshore wind project in the State of New York, a contribution to meeting the state’s ambitious clean energy and climate goals. Van Oord… Read More
Britain’s Octopus Energy said on Friday its renewables investing arm had launched a dedicated fund with Japan’s Tokyo Gas (9531.T) to invest 3 billion pounds ($3.7 billion) in offshore wind projects by 2030. The Octopus Energy Offshore Wind fund, set up with a 190 million pound cornerstone investment from Tokyo Gas, will invest in offshore wind farms… Read More
New York State will issue a new offshore wind solicitation on Nov. 30 with bids due in January 2024, the state government said, in a move that should support the troubled industry. European energy companies Orsted (ORSTED.CO), Equinor (EQNR.OL) and BP (BP.L) have taken a combined $5 billion of writedowns on U.S. offshore wind projects that are not even completed, in part… Read More