Net Zero economy grew 9% in 2023 to be worth £74bn, report says
The “net zero economy” - from renewables and electric cars to green finance - grew 9% in 2023 to contribute £74 billion to the UK, a report has shown.
UK
Report finds nearly two thirds of UK energy firms consider moving investments abroad
UK Sustainable Investment and Finance Association report finds failure to implement favourable policies could see UK lose out on £115 billion in investment
Sumitomo commits to £350m Highlands cable factory as funding package agreed
Japanese giant previously said Scottish Government funding was a deal-breaker for 330-job project.
Altrad completes ‘year of integration’ following transformative growth
Engineering firm Altrad Group has surpassed €5.3 billion (£4.5bn) in revenue for the 2023 financial year, an increase of 38% on its 2022 results after two years of "transformative growth".
Aberdeen’s Balmoral appoints new director to strengthen global offshore wind ambition
Aberdeen firm Balmoral has announced the appointment of a new non-executive director as the company aims to cement its global offshore wind ambition.
Subsea sector seeks to ‘dominate’ market for floating wind expertise
UK subsea sector leaders plan to use their oil and gas expertise to “dominate” the floating wind mooring and dynamic cables markets in coming years.
Scottish offshore wind port projects move to second stage of SIM process
Scottish Government announces Stage 2 projects under the Strategic Investment Model
Race on for UK to grab multi-billion floating wind mooring market
‘We cannot underestimate the sheer scale of what is required’, says GUH boss.
EastWind cluster looks to widen reach under new formal leadership
The EastWind cluster has announced its formal conception as a not-for-profit company, as members look to expand its reach amid a growing offshore wind pipeline.
Council backing secured for West of Orkney Windfarm
Orkney Islands Council declares its support for 2GW West of Orkney ScotWind project
Aberdeen’s OEG revenues up 35% after year of renewables-focused acquisitions
OEG achieves "milestone" goal of even split in revenues between renewables and offshore oil and gas
Equinor expects offshore wind costs to improve
The Equinor CEO said he had regular discussions with turbine makers on improving costs. “I’m sure that in time offshore wind will be back with lowering the levelised cost of energy.”
Thistle Wind Partners reaches milestone on Ayre Offshore Wind farm
Thistle Wind Partners (TWP) has passed a planning milestone for its Ayre Offshore Wind farm, submitting the onshore scoping report to Highland Council.
UK Government urged to allow more scrutiny of climate plans
Members of Parliament want more say on government plans to achieve emissions cuts in the run-up to 2050, the nation’s legally binding net-zero target date.
Orsted faces investor pressure to cut dividend after share slump
Wind-energy titan Orsted A/S (CPH:ORSTED) will pitch its strategic plan to investors this week, after a disastrous 2023 that saw a multi-billion-dollar writedown on US projects and the dismissal of two top executives.
UK underwater sector ready to navigate the ‘Blue Frontier’ at Subsea Expo 2024
The challenges and opportunities facing the global subsea sector are being likened to space exploration as companies push the boundaries of what's possible in Earth's final, 'blue' frontier.
Offshore wind sector M&A heads towards reboot
The wind sector is in growth mode and stakeholders are fiercely competing to increase their slice of the pie but growing pains have emerged, casting a shadow on previously held assumptions around the commerciality of the sector.
Aberdeen’s Apollo Engineering to trial electric vessel charger for offshore wind sector
Apollo's PALM Charger could help offshore wind developers decarbonise their marine vessel fleets
Wind turbine manufacturer Vestas coming to Scotland, says energy minister
Vestas, the wind turbine manufacturing giant, is coming to the Port of Leith according to Scotland's energy minister.
Amazon to buy power from Scottish wind farm Moray West
American tech giant Amazon has signed a deal to buy electricity from Scotland’s Moray West offshore wind farm ahead of first power later this year.
Labour would need £8 billion to deliver green plan within rules
The Labour Party needs to find at least £8 billion ($10 billion) to deliver its green-investment plan, a new analysis shows, underscoring why UK opposition leader Keir Starmer may be mulling changes to the initiative.
Five things we learned from Offshore Wind Conference 2024
With discussions spanning consenting, finance and policy across the offshore wind space, here are our key takeaways from this week’s major conference in Glasgow.
Hywind maintenance a ‘lost opportunity’ for UK supply chain
Scottish Enterprise’s David Rennie said the news had given him a “shiver”.
£100m mooted for Burntisland floating wind hub as Forth blueprint expands
Forth Ports says its vision to use both sides of the Firth of Forth to store, assemble and commission floating wind turbines could see more than £100 million invested at the site.
Contract dished out for ‘major maintenance’ on Equinor’s Hywind Scotland
This is the second time in recent months when a Scottish floating wind project has gone overseas for repairs.