CorPower Ocean has secured $35 million (€32 million) funding in an investment round set up to support the commercial roll out of its wave energy technology.The Series B1 investment round was led by NordicNinja, the largest Japanese backed VC in Europe…
Brazil's Petrobras is expected to seek the entire 40% stake of Namibia's Mopane oil and gas exploration block put up for sale by Portugal's Galp, a director at the state-run oil firm said on Monday.To operate the oil field, Petrobras would need the full 40% stake…
Massachusetts and Rhode Island are moving ahead with three offshore wind projects totaling 2.9 gigawatts (GW), or enough electricity to power about 1.6 million homes, government officials announced on Friday.The project selections, following…
The Ondas de Peniche (ONDEP) project has been awarded $21 million (€19 million) from the EU’s Horizon Europe funding program to deploy a 2 MW wave energy array featuring four WaveRoller wave energy converters.The ONDEP project will start in October 2024 and last for five and a half years…
The discovery of increased reserves of crude oil in Namibia has sparked interest in Namibian assets, with an index fund tracking local government bonds poised for its biggest annual jump on record.The Exchange Traded Fund tracking local government…
Norwegian energy company Equinor has canceled its offshore-wind projects in Spain and Portugal, in addition to its previously announced exit from Vietnam, and could withdraw from more countries to rein in spending, an executive told Reuters on Wednesday…
Tokyo Gas has acquired 21.2% stake in the WindFloat Atlantic floating wind farm, operational offshore Portugal since 2020, joining Ocean Winds and Repsol as partner.The investment marks a new collaboration milestone between Tokyo Gas and Ocean Winds…
Swedish-Israeli company Eco Wave Power has held an official kick-off for the development of 1 MW wave energy project in Portugal.Eco Wave Power’s engineering team and the company’s CEO Inna Braverman have held an official site-visit with APDL (Administração dos Portos do Douro…
Portugal's Galp Energia on Monday reported its second quarter adjusted net profit jumped 16% and beat expectations as higher oil price and lower cost of production offset lower production and stable refining margin.It booked an adjusted net profit of 299 million euros ($325…
Repsol and EDF Renewables have signed an exclusivity agreement to cooperate on future offshore wind tenders in Spain and Portugal.The collaboration brings together Repsol's commitment to multi-energy growth and knowledge of the Spanish and Portuguese…
Prysmian's Monna Lisa vessel, being build by Vard, has reached Norway for final outfitting, installation of main mission equipment and trials, before becoming fully operational in 2025.The 171-meter-long cable laying vessel (CLV) arrived to Norway after travelling 4…
Swedish wave energy company CorPower Ocean is nearing completion of planned on-land inspection and upgrades of its first commercial-scale wave energy device, C4, following its first deployment offshore Portugal. The upgrades being implemented…
Norwegian shipbuilder Vard has launched a 171-meter-long cable laying vessel (CLV) Monna Lisa, being built for Prysmian, marking another major milestone towards the delivery of the vessel, scheduled for 2025.Prysmian executives gathered at the VARD shipyard in Tulcea…
Oil and gas company BW Energy has appointed Brice Morlot as Chief Financial Officer (CFO).Effective June 30, 2024, Morlot will succeed Knut R. Sæthre, who has been the CFO of BW Energy since 2019.Morlot brings extensive experience to the company…
Portugal's new government is committed to developing offshore wind energy and also sees 'repowering' onshore wind farms and promoting solar projects, including small-scale ones, as a priority, the environment minister said on Monday.Maria da…