UK energy companies will ‘turn to other markets’ due to Trump tariffs – EIC
UK energy companies are expected to "turn to other markets" than the US as a result of Trump slapping a 10% tariff on British exports.
Americas
Aberdeen’s Xodus expands with acquisition of Daymark
Aberdeen-headquartered Xodus Group has expanded its North American footprint buying up Daymark Energy Advisors.
National Grid sells US renewables arm in £1.4bn deal
National Grid (LON:NG) has agreed to sell its US onshore renewables business to Brookfield Asset Management in a deal valuing the division at $1.74 billion (£1.37 billion).
‘We still have hope’ says US state trade representative
A state-level trade body boss says he "still has hope" for the US offshore wind and renewable energy industry despite project cancellations in the wake of the Trump presidency.
Equinor slashes renewables, doubles down on hydrocarbons in focus on returns
Equinor’s dramatic renewable cuts and increased focus on oil and gas mirrors moves across the energy sector. The Norwegian major is prioritising shareholder returns over energy transition spending.
Aberdeen’s Centurion confirms $100m acquisition ‘firepower’ fund
Aberdeen-based Centurion Group revealed it has $100 million (£81m) to spend on continuing its acquisition streak this year after a consortium of lenders boosted its credit facilities.
Exclusive: 17 Energy expects to take £4bn floating offshore wind farm ‘to market’ in 2028
UK-based developer 17 Energy Ltd. expects to bring its proposed 1 GW floating offshore wind farm off the Chilean coast 'to market' in 2028, co-founder Úna Brosnan told Energy Voice.
Inverness-based Aurora Energy Services expands into Chile with acquisition
Aurora continues it's M&A spree as it picks up a Chilean wind energy services business.
Equinor, Dominion buy offshore wind leases despite Trump threat
Equinor ASA and Dominion Energy Inc. will spend a combined $93 million on leases to develop offshore wind farms near Delaware and Virginia, despite former president Donald Trump’s vow to target the industry if he retakes office.
GE Vernova plans mass wind-blade inspection after accident
GE Vernova Inc. (NYSE:GEV) plans to reinspect every offshore wind-turbine blade the company has ever produced, after finding a “material deviation” at the factory supplying the component that recently broke at a US project under construction.
A Trump win puts $1 Trillion in US energy investments at risk
A victory by Republican Donald Trump in the US presidential election threatens $1 trillion in energy investments and future support for low-carbon energy sources, according to a Wood Mackenzie report.
Octopus Energy makes strategic investment in US floating offshore wind firm Ocergy
Renewable energy provider Octopus Energy is set to invest in California-based floating offshore wind firm Ocergy.
OEG Renewables lands US offshore wind contract with Ørsted
Aberdeen-headquartered OEG Renewables has landed a multi-year deal with Ørsted covering its offshore wind projects in the north-eastern US.
Chevron launches $500 million fund to invest in clean tech
Chevron Corp.’s (NYSE:CVX) venture arm launched a fund — its third — with a $500 million commitment to invest in clean energy technologies.
Macquarie unit Corio Generation is leading $50bn investment in offshore wind
Macquarie Asset Management (ASX:MQG) is making a $50 billion bet on offshore wind after sidestepping a perfect storm of low power prices and cost inflation that forced many competitors to walk away.
Orsted wind farm near Martha’s Vineyard wins Biden’s approval
The Biden administration approved Orsted A/S’s (CPH: ORSTED) plans to build a nearly 1-gigawatt offshore wind farm near a popular Massachusetts vacation destination, setting the stage for the massive project to begin supplying power to New York in 2026.
Equinor, Orsted claim victory in New York wind auction
New York state has provisionally awarded contracts to 1.7GW of new wind capacity developed Orsted and Equinor as part of its fourth auction.
Orsted seeks new equilibrium, outgoing COO Brown states
The offshore wind industry had been lulled into a false sense of security through cheap money and a deflationary services market, Orsted’s outgoing interim COO Andy Brown said today.
Abu Dhabi’s Masdar weighs stake in Iberdrola US renewable assets
Abu Dhabi’s Masdar is exploring the possibility of taking a stake in renewable-energy assets owned by Iberdrola SA in the US, according to people familiar with the matter.
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.”
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.
Equinor among big name bidders for fourth New York offshore wind round
Equinor, Ørsted and RWE announce bids for fourth New York offshore wind round
BP untangles itself from Equinor on NY offshore wind projects
BP (LON: BP) and Equinor ASA are parting ways in the US offshore wind market.
Orsted ramps up bet on US offshore wind with New York deal
Orsted A/S (CPH:ORSTED) agreed to buy out its joint venture partner in a New York offshore wind farm after abandoning two New Jersey projects last year and taking $4 billion in impairment charges.