Danish wind turbine manufacturer Vestas returns to profitability in Q3 results
Danish wind turbine manufacturer Vestas (DKK: VWS) has announced a return to profitability as it released its 2023 third quarter results.
Europe
Updated: Orsted plunges on abandoned US wind plans, $4 billion writedown
Orsted A/S (CPH: ORSTED) shares slumped to their lowest level in six years after the Danish utility dropped two US wind projects and recorded 28.4 billion kroner ($4 billion) in impairments as the crisis in the wind industry is only getting worse.
As wind industry struggles, investors brace for Orsted losses
As the German government scrambles to prop up Siemens Energy AG, another major European wind firm faces its own moment of truth after warning of billions of euros in writedowns.
Global Underwater Hub report finds supply chain capability high, lack of project visibility threatening confidence
A report by the Global Underwater Hub (GUH) released today has emphasised the strength of the UK supply chain but warns a continuing lack of project surety is impeding necessary investment.
EU aims to boost its wind industry to counter China’s clean tech ambitions
The European Union launched a wind power package on Tuesday to counter the growing influence of China and spur its own industry, as the bloc focuses more firmly on China as the biggest threat to its clean-tech industry.
Sweden power crunch can be eased with offshore wind, Orsted says
(Bloomberg) - The best option for Sweden to mitigate a power crunch in the second half of this decade is to speed up approvals for offshore wind parks, said an executive with Orsted A/S, the world’s biggest developer of those sites.
EU aims to counter China by bolstering wind energy industry
The European Union will pledge to prop up its wind industry in the face of toughening global competition, supply-chain bottlenecks and financing concerns to ensure that the bloc can meet ambitious climate and sustainable growth plans.
Norway delays bids for Utsira Nord offshore wind zone
The bid deadline for the Utsira Nord offshore wind zone has been delayed to 2024, while the deadline for Sørlige Nordsjø II has also been pushed back due to changes in the bidding criteria.
Aberdeen’s OEG raises $140m for rapid renewables expansion
OEG chief executive officer John Heiton said the company is targeting up to 12 acquisitions in the offshore wind sector.
UK offshore wind bids “crazy”, Ocean Winds exec says
“BP is paying half a billion pounds per year” on its 3 GW commitment. “It will take not less than six years, although they say it will take four. No project has been developed that fast,” Gorski said.
Statkraft CEO to step down after 14 years leading Norwegian renewable energy company
The chief executive officer of Norwegian renewable energy company Statkraft has stepped down after 14 years in the position.
Wind power package for Europe to be presented in October
The European Union is planning to unveil measures to help its ailing wind sector next month, after supply-chain bottlenecks and higher financing costs have put a brake on projects.
Scottish research to explore combined wind and wave energy platforms
A new study will determine the potential for shared floating platforms used by offshore wind and wave energy devices.
Norway to assess opening three new offshore wind zones for tender in 2025
The Norwegian government has announced plans to assess the opening of three new offshore wind areas which could be available for tender from 2025.
Aberdeen loses floating wind crown as Norway opens world’s largest project
Aberdeen’s floating wind crown has been passed to Norway today as the world’s largest project, Hywind Tampen, officially opens.
DeepOcean wins cabling work for Germany’s Nordseecluster
RWE has designated DeepOcean as a preferred supplier for subsea installation services at the Nordseecluster A offshore wind development.
European knowhow critical for Asia as offshore wind energy ramps up
A pragmatic approach based on alliances with established European contractors is the best way to learn quickly.
Ireland launches marine regulator to spur offshore renewables drive
Ireland has officially launched its Maritime Area Regulatory Authority (MARA), alongside a plan to open an area for renewables development off the republic’s southern coast.
TotalEnergies, BP make big waves in German offshore wind auction
TotalEnergies and BP were awarded rights for 7GW worth of offshore wind concessions in German waters, paying more than €12bn to secure the areas.
Several offshore wind FIDs planned for 2023 ‘look more at risk’
Orsted's £8bn Hornsea Three wind farm is a prime example, and a number of others globally have been "re-shuffled and refocused."
Siemens Energy: Wind turbines that shake and break cost their maker billions
Siemens Energy AG is struggling to contain the fallout after discovering a main piece on the frame of its wind turbine can move or twist over time.
Shell offshore wind farm produces first green energy
First electricity has been produced by a Dutch offshore wind farm, co-developed by London-listed supermajor Shell (LON: SHEL).
Ukraine opens world’s only wind farm built in major conflict zone
DTEK, Ukraine’s largest private energy investor, has cut the ribbon on a new wind farm, less than 100 miles from the Russian front.
North Star orders offshore wind construction ships creating 200 jobs
Aberdeen-based North Star is expected to create around 200 seafaring jobs with the order of a series of new construction ships for the offshore wind industry.
Ostend signs North Sea wind mega-bonanza – but there’s no scope for error
Well, they’ve signed the pledge; taken vows that they will drastically accelerate the North Sea’s offshore wind capacity to 300 Gigawatts by 2050, with a near-term target of 120GW by 2030.