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Acquisition signifies an increase of circa 20% in offshore & subsea capacity for the Group, boosting Middle East and Southeast Asia operations. AD Ports Group (ADX: ADPORTS), a global leader in trade, logistics and industry, today announced the purchase of 10 offshore vessels, that will bolster offshore operations in the Middle East and Southeast Asia. The… Read More
Skanska announces that it has completed the first of three wharfs on-time as part of its work redeveloping approximately 72 acres of the 287-acre Portsmouth Marine Terminal for use as an offshore wind staging port. This coincides with the delivery of the first eight monopile foundations for Dominion Energy’s Coastal Virginia Offshore Wind (CVOW) commercial project, bringing them one… Read More
The recent cancellation of two New Jersey offshore wind farms would seem to deal a blow to President Biden’s clean energy goals. Do you agree? I don’t know that it is such a big blow in the larger picture. The overall goal and process for our clean energy goals, including offshore wind, remains sound. However,… Read More
Offshore wind power company Orsted is trying to get out of a $300 million guarantee it agreed to pay New Jersey in the event it failed to build its first wind farm off the state’s coast. Last Tuesday, the Danish firm scrapped its Ocean Wind I and II projects in southern New Jersey, saying the projects were… Read More
Europe’s two largest economies, Germany and the UK, have entered into a partnership providing a blueprint for their cooperation in clean energy. The partnership was signed last week in London by UK’s Energy Security Secretary Claire Coutinho and Germany’s Vice Chancellor Robert Habeck. The new partnership emphasizes cooperation in offshore wind and electricity interconnection, as… Read More
While much of the focus in the offshore wind sector is on the growing financial challenges and uncertainties, a project in Denmark is being put on hold over objections from environmentalists on how and when the number of bats in the region are counted. The project’s developers are saying it is creating uncertainty about the… Read More
Third Quarter 2023 Highlights Revenue of $299.3 million, a 39.2% increase from the second quarter of 2023 Average day rate increased to $17,865 per day, $1,823 higher than the second quarter of 2023 Composite leading edge term contract day rate up 21.7% to $28,609 Net income of $26.2 million, an increase of $3.6 million from… Read More
The oil and gas industry and other minerals producers have complained for many years about the complexity and slow pace of obtaining permits for projects to develop their underground assets. Now, the offshore wind industry is joining the fray. “There is a fundamental reset needed” It was just one of several issues cited for the… Read More
The cancellation of two large offshore wind projects in New Jersey is the latest in a series of setbacks for the nascent U.S. offshore wind industry, including three projects in New England, jeopardizing the Biden administration’s goals of powering 10 million homes from towering ocean-based turbines by 2030 and establishing a carbon-free electric grid five… Read More
(The Center Square) — The Biden administration announced its approval of the Coastal Virginia Offshore Wind commercial project – the country’s largest – amidst significant challenges to projects in other states. The $9.8 billion project will install 176 800-foot wind turbines almost 30 miles off the shore of Virginia Beach, which, at peak winds, can… Read More
The longest wind turbine blades ever to enter the Western U.S. arrived at the Port of Vancouver, Washington, in 2020. They were 253 feet long. This winter, new blades will arrive that are 272 feet. “I would imagine by 2026, we will see even larger wind blades,” said Alex Strogen, chief commercial officer at the… Read More
A wildly innovative turbine that could halve the cost of offshore wind is set to go into testing in Norway. The 19-m (62-ft), 30-kW, contra-rotating vertical-axis turbine is a prototype of a design that could scale to unprecedented size and power. Most wind turbines look like a propeller on a stick – which is fine,… Read More
Good news or bad news first? Because there was plenty of both this week for the fledgling U.S. offshore wind industry. On Halloween, the Biden administration announced that the nation’s largest planned offshore wind development, Dominion Energy’s 2,600 megawatt Coastal Virginia Offshore Wind project, received its last major federal approval. That night, however, Danish wind giant Ørsted… Read More
Following decisions of its Board of Directors, Ørsted will cease development of the Ocean Wind 1 and 2 projects and has taken final investment decision on the Revolution Wind project. The decisions are part of an ongoing review of Ørsted’s US offshore wind portfolio. Impairment update On 29 August 2023, Ørsted announced anticipated impairments on… Read More
NEW ORLEANS (AP) — The Biden administration on Friday designated four tracts of federal waters in the Gulf of Mexico off the Texas and Louisiana coasts for development of wind energy. The Bureau of Ocean Energy Management announcement follows the first Gulf sale of leases for wind development earlier this year. That sale drew a $5.6 million… Read More