Offshore Renewables News

 

Dominion Partners with Stonepeak to Fund Coastal Virginia Offshore Wind

Feb 22, 2024

U.S. utility firm Dominion Energy said on Thursday it would sell a 50% non-controlling interest in its Coastal Virginia offshore wind farm to Stonepeak to help fund construction of the roughly $10 billion project.Dominion said it would retain full control of the construction and operation of the project, with Stonepeak to pay for half of the construction costs.The deal is expected to close by end-2024…

US Offshore Wind: Down but Not Out

Mar 01, 2024

“The winds of change are blowing wild and free.” – Bob DylanIn the U.S. offshore wind industry, developments over recent months have placed an exclamation point on the word “wild”. Yes, the wind still blows “free”, but mounting challenges have…

New York Awards Equinor and Orsted New Offshore Wind Contracts

Feb 29, 2024

New York officials on Thursday awarded provisional contracts to two proposed offshore wind projects under a program meant to support the embattled industry and keep the state's clean energy goals on track.The state selected a planned 810-megawatt project…

Orsted Appoints CFO, Head of Operations

Feb 28, 2024

Denmark's Orsted announced a new chief financial officer and head of operations on Tuesday as the world's largest offshore wind farm developer looks to bounce back from a string of losses and project cancellations.Rising inflation, interest…

Spain Starts Consultation on New Offshore Wind Rules

Feb 26, 2024

Spain has opened a public consultation on a new set of rules for offshore wind energy production, laying the groundwork for auctions of sea-based concessions, the Energy Ministry said on Monday.The sector had been urging the government to publish…

BOEM Approves COP for Equinor's Empire Wind Project

Feb 22, 2024

The United States’ Bureau of Ocean Energy Management (BOEM) approved the Construction and Operations Plan (COP) for Equinor’s Empire Wind project, marking another milestone in advancing the New York offshore wind project.With this permitting action by BOEM secured…

Five Turbines Power Up at Vineyard Wind

Feb 22, 2024

Renewable energy firm Avangrid and fund manager Copenhagen Infrastructure Partners said on Thursday their joint venture, Vineyard Wind 1, has begun operations at five of its wind turbines, supplying 68 megawatts (MW) to the New England grid…

US Finalizes Two Offshore Wind Energy Areas in Oregon

Feb 13, 2024

The Bureau of Ocean Energy Management (BOEM) on Tuesday finalized two wind energy areas (WEAs) in the offshore Oregon region, aligning with government goals to deploy 30 gigawatts of offshore wind power along U.S. coastlines this decade to fight climate change…

MARAD’s Title XI Changes: Good News for Offshore Wind?

Feb 12, 2024

The U.S. Department of Transportation's Maritime Administration (MARAD) in December issued a final rule updating its financial requirements for the Federal Ship Financing Program, commonly referred to as Title XI. While the move applies to the U…

Orsted Cuts Investment, Capacity Targets After Review

Feb 07, 2024

Orsted, the world's biggest offshore wind farm developer, trimmed its investment and capacity targets on Wednesday and paused dividend payouts as part of a major review.The Danish company has battled to restore investor confidence after halting the development of two U…

Gazelle Prepares for a Floating Wind Future

Feb 05, 2024

As offshore wind power spreads globally, it’s widely acknowledged that the maturation of floating wind power platforms will exponentially increase the availability of resources, as a majority of the wind power lies outside the installation zone of fixed systems…

Orsted's Strategic Shake-up Has Investors Worried

Feb 02, 2024

Orsted is expected to trim investment plans and cut dividends on Wednesday as it presents a new strategy but investors are worried that the Danish renewable energy firm may want to raise new capital to stick to its ambitious targets.Once a green investor darling…

Global Maritime Acquires Iberian Offshore

Jan 30, 2024

Global Maritime announced it has acquired engineering specialist Iberian Offshore, strengthening Global Maritime's footprint in the emerging Spanish offshore wind sector and serving as a gateway for future expansion into the Mediterranean region…

German Offshore Wind Power Share Dropping

Jan 29, 2024

Years of network expansion on land in Germany has led to a drop in the proportion of offshore wind power contributed from the North Sea to the country's total wind energy output, Dutch grid operator TenneT said on Monday.In 2023, the share of…

Equinor and BP Part Ways on US Offshore Wind Projects

Jan 25, 2024

Norway's Equinor said on Thursday it had entered an agreement with BP BP.L to independently pursue separate wind projects under its bid for New York's offshore wind auctions.As part of the agreement, BP would take over full control of the Beacon Wind project…

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