The U.S Federal Permitting Improvement Steering Council on Thursday approved the construction of a $1.5 billion offshore wind farm off the coast of Rhode Island.The project, Revolution Wind, is run by Danish company Orsted and U.S.-based Eversource…
European energy companies, including Denmark's Orsted, will likely write down more of their U.S. offshore wind investments this week after BP and Equinor booked $840 million in impairments in recent days.Orsted, the world's largest offshore wind developer…
More than 100 countries at the COP28 climate summit in Dubai have agreed to triple renewable energy capacity by 2030 - one of the least controversial commitments floated at the conference.But they have given little detail on how they can make an industry running flat out go that much faster…
Denmark's Orsted is still 'committed' to developing offshore wind farms in the United States despite the company's cancellation of two projects off the coast of New Jersey, White House senior advisor John Podesta told Reuters on Monday.Podesta…
International energy companies, from Germany's RWE to Spain's Iberdrola, are urging Japan to beef up offshore wind power auctions and make investments more attractive, amid soaring installation costs as competition for suppliers grows worldwide…
Governments have decided to pay up to revive offshore wind farm developments after rising costs put at risk multiple projects that are needed to help them cut emissions and reach climate targets.Many countries are relying on a huge and rapid…
Credit rating agency S&P said on Thursday it had placed Danish renewable energy firm Orsted on review for a possible debt downgrade due to the company's massive losses on projects in the United States.The world's largest offshore wind developer on Wednesday said it had halted plans for two U…
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, Equinor, and BP have taken a combined $5 billion of writedowns on U…
Britain's Octopus Energy has bought a 12.5% stake in the 660 megawatt (MW) Walney Extension offshore wind farm in the Irish Sea from a group of Danish pension funds, it said on Monday.Octopus bought the stake from AIP Management, the investment manager for Danish pension funds PKA and PFA…
Canceled offshore wind projects, imperiled solar factories, and fading demand for electric vehiclesA year after the passage of the largest climate change legislation in U.S. history, meant to touch off a boom in American clean energy development…
Denmark-based offshore wind developer Orsted has decided to pull out of the Norwegian offshore wind partnership due to prioritization of investment in its portfolio.Ørsted joined Bonheur ASA's subsidiary Fred. Olsen Renewables AS, now Fred. Olsen Seawind ASA…
Shell's finance chief said on Thursday the firm had exited a power purchase agreement (PPA) for the planned SouthCoast windfarm off the coast of Massachusetts, agreeing to pay a penalty rather than face rising costs for building the project…
The U.S. Department of the Interior on Thursday approved the Empire Wind offshore project, owned by Equinor and BP, the sixth commercial-scale wind farm to be greenlit under President Joe Biden's administration.Empire Wind is among several offshore…
As Europe turns to renewable sources to diversify energy supplies away from Russian oil and gas, a peaceful marine scene conceals a billion-dollar security headache.Rising above the Baltic Sea less than 10 km (6 miles) off the coast of Denmark…
Seven groups of energy companies have sought pre-qualification for Norway's first commercial offshore wind farm tender, the government said on Wednesday, while several others dropped out of the race as soaring costs dampened interest.The tender…
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