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Concessional climate financing could be the key to unlocking the immense decarbonization potential and socioeconomic benefits of offshore wind in emerging markets. A new report published September 6 by the World Bank’s Energy Sector Management Assistance Program (ESMAP) and the International Finance Corporation (IFC) finds that concessional climate financing is essential to unlock offshore wind… Read More
New and existing offshore wind farms could help generate large amounts of green hydrogen and support the UK and EU meet their net-zero targets, if the necessary infrastructure can be put in place, according to a new report commissioned by Crown Estate Scotland. Written by global energy consultants Xodus Group, ‘Commercial Models for Future Hydrogen… Read More
Situated just 195 kilometers off the UK’s northeast coast on Dogger Bank, the Sofia Offshore Wind Farm is a transformative project poised to significantly impact the country’s renewable energy landscape. Upon completion, Sofia will be one of the biggest offshore wind farms in the world that is also one furthest from shore. Moreover, once up… Read More
Analysts and wind farm developers have already been highlighting the growing need for vessels to support the emerging offshore industry. As the industry begins to explore floating offshore wind the need will be even more acute according to a new market analysis from Intelatus Global Partners. They are highlighting the shortage of suitable vessels, an… Read More
A German energy company won rights Tuesday to the first-ever offshore wind lease in the Gulf of Mexico, bidding $5.6 million for 102,480 acres in federal waters off the coast of southwest Louisiana. The winning bidder, RWE, is a Germany-based holding company engaged in electricity generation and storage systems. It has experience with a wide… Read More
Boskalis has acquired two contracts for the transportation and installation of the export and array cables for the Baltica 2 offshore wind farm off the coast of Poland. The two contracts have a combined value which is considered to be large(1) and they were awarded by a joint venture between PGE Polska Grupa Energetyczna and… Read More
Three leases were offered by the Bureau of Ocean Energy Management (BOEM) at last week’s auction. As Seatrade Maritime News reported one area off Louisiana received a single bid of $5.6 million from Germany’s RWE; the other two leases received no bids at all. The weak response is a blow to President Biden who has set a… Read More
Global wind energy developer Ørsted has announced its planned offshore wind farm off the coast of New Jersey will be delayed until 2026 due to several reasons including supply chain issues. The company, which is based in Fredericia, Denmark, has several offshore wind farms planned off the coasts of Maryland, Delaware, New Jersey, New York and Rhode… Read More
The phrase “save the whales!” — used by opponents of renewable energy — has been weaponized to baselessly tie New Jersey’s offshore wind development to the unusual mortality event (UME) impacting marine life. Republicans have used this event as a political prop. Federal agencies and outside experts have noted that the heightened spate of strandings is likely due to… Read More
Orsted executives said they may be forced to write down the value of their planned U.S. offshore wind energy projects by $2 billion, in an Aug. 30 earnings call. That news led to a 25 percent drop in Ørsted’s stock price. It’s an ominous escalation of bad news for U.S. offshore wind development, beset by… Read More
As part of the continued maturation and a pre-final investment decision (FID) review of its near-term US offshore development projects, Ørsted has assessed the aggregate adverse impacts relating to the supply chain, lack of favorable progress in Investment Tax Credit (ITC) guidance, and increased interest rates, which affect its US portfolio. The Ocean Wind 1,… Read More
By Jennifer A. Dlouhy (Bloomberg) — The first-ever US government auction of leases to build wind farms in the Gulf of Mexico ended with only one tract sold, a blow for advocates cheering on renewable-power development in the region. RWE Offshore US Gulf LLC won a 102,480-acre (41,472-hectare) tract near Lake Charles, Louisiana, for $5.6 million, after just… Read More
WASHINGTON, D.C., August 29, 2023 – The American Clean Power Association (ACP) issued this statement by Josh Kaplowitz, ACP Vice President of Offshore Wind, on today’s offshore wind lease auction for the Gulf of Mexico held by the Bureau of Ocean Energy Management (BOEM): “While today’s auction fell short of expectations, it is nonetheless a critical step… Read More
Anyone taking the temperature of local support this summer for wind farms planned off the Long Beach Island coast would know it runs near frigid most days. Still, Atlantic Shores Offshore Wind submitted a bid to the N.J. Board of Public Utilities earlier this month to expand its initial wind farm project, first approved in… Read More
By focusing on fewer business areas and regions, Maersk Supply Service will increase its presence in core markets, increase synergies in its operations and improve profitability. Going forward its two core business areas will be offshore wind and offshore support vessels (OSV). The offshore vessel markets continue to improve, and the energy transition continues to… Read More