The levelised costs of electricity (LCOE) for utility solar and onshore wind in Asia Pacific were up 16% and 12% respectively since 2020, as equipment, construction costs and interest rates rose in the region. However, China was insulated from the trend.
Renewable energy M&A deal value in Asia Pacific increased by 11% year-on-year to $19 billion in 2022, primarily due to a surge in onshore wind and geothermal merger and acquisition activity.
South Korea will boost nuclear power generation and downgrade its plans for renewable energy as the nation overhauls its electricity mix to meet emissions reduction targets.
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments, but helped by a significant rise in funding for hydrogen and carbon capture, utilisation and storage (CCUS) infrastructure, Rystad Energy research shows.
Billionaire Andrew Forrest agreed to acquire Partners Group Holding AG-backed CWP Renewables Pty for about a A$4 billion ($2.7 billion) valuation, extending a rush of deal-making focused on Australia’s accelerating shift to cleaner energy.
The government of India has kicked off plans for offshore wind by releasing a consultation paper to call for bids to lease 870 square kilometres of seabed area in the power hungry South Asian nation.
India is discussing a plan to keep old power stations running for longer, arguing that they’re needed to meet demand until enough energy storage can be built.
Sri Lanka’s offshore wind resource far exceeds the South Asian nation’s energy demand, and its development could help the country’s economic recovery by displacing costly fuel imports, according to the World Bank.
Vietnam is set to follow Indonesia and South Africa with a climate financing package of at least $11 billion to shift its economy away from coal and boost the rollout of renewable energy sources.
Financial security in relation to decommissioning oil and gas installations has long been a hot topic for our industry.
Chinese yard Dajin Offshore Heavy Industry will supply wind towers for Ocean Winds’ Moray West offshore wind farm in Scotland after winning a subcontract from Siemens Gamesa.
DNV, the independent energy expert and assurance provider, has been appointed by Elenergy, a Korean renewable energy development company, as owner’s engineer for its 1.5 GW fixed-bottom Chujin offshore wind project.
Henriette Holm will be Ørsted (CPH:ORSTED) Japan’s new country manager bringing her extensive experience of heading up project development in the UK, including the world’s largest offshore wind farm, as the company seeks to strengthen its team in the exciting frontier wind market.
A city in southern China is planning an offshore wind farm bigger than all of the power plants in Norway combined.
Maersk Training and GiraffeWork have recently signed a collaboration agreement, at the Royal Danish Embassy in Tokyo, to establish a training center for the wind industry in Japan, offering courses in accordance to the Global Wind Organisation (GWO).
Siemens Gamesa and Hai Long Offshore Wind Project signed two agreements at the Energy Taiwan trade fair in Taipei on Thursday marking Siemens biggest deal in the country.
Major offshore wind developers, including bp (LON:BP), RWE Renewables, Equinor (OSLO:EQNR), Orsted (CPH:ORSTED), Shell (LON:SHEL), and TotalEnergies (LON:TTE), are excited by the huge offshore wind potential in energy-short Japan, delegates heard at the Japan Wind Energy 2022 conference in Tokyo.
A 250% surge in the price of power has delivered a cash boost to Parkmead Group (LON: PMG) at its wind farm in Aberdeenshire.
THREE60 Energy, of Aberdeen, has cemented its presence in the wind market with the acquisition of an Orkney-based maintenance and services specialist.
Nearly half of UK offshore wind capacity is controlled by state-owned or majority state-owned foreign entities, according to a new report.
Philippine billionaire Enrique Razon made his fortune operating ports and running casinos. His next target is the country’s nascent renewables industry.
To hit its 2060 net zero pledge, Indonesia will need to almost triple energy investment by 2030, the International Energy Agency (IEA) said in its latest report. That means an extra $8 billion in investment a year by the end of this decade compared with a business-as-usual pathway.
A 300ft wind turbine in South Wales collapsed in 50mph winds causing it to "overspeed", snapping its blades.
Japan Wind Energy 2022 Premium Wind Power Business Platform in Japan
European oil major Shell is looking at expanding its wind-power business in Australia as it eyes options offshore and diversifies away from fossil fuels. Significantly, Australia’s offshore wind sector remains at a nascent stage of development.