UK offshore wind industry pain to last years, hedge fund says
The once-booming UK offshore wind industry faces years of pain, including project delays and possible cancellations, due to soaring costs and higher interest rates.
The once-booming UK offshore wind industry faces years of pain, including project delays and possible cancellations, due to soaring costs and higher interest rates.
Developers of the Stromar floating offshore wind farm have launched a buoy at its development site, kicking off a year-long monitoring campaign.
Ørsted has entered its first solar project in the UK, buying a share in a 740MW development site in Nottinghamshire.
Welcome to the final episode of the second series of Gigawaters, a four part series exploring the impact of ScotWind. Brought to you by Sustainable Growth Voice and Energy Voice Out Loud, in paid partnership with Orsted.
Orsted said it’s prepared to walk away from projects in America unless the White House guarantees more support, highlighting the myriad challenges facing wind-energy developers in the country.
All told, Ørsted’s impairments may reach 16 billion kroner ($2.33bn).
Meanwhile, the location of a ‘world first’ floating wind hydrogen demonstrator project off Aberdeen may also be in doubt.
Offshore wind ‘heavy hitter’ Hugh Yendole has been appointed as project development director for a major floating scheme off Peterhead.
Orsted (CPH: ORSTED) on Thursday reported a 68% year-on-year drop in profits as “significantly lower” power and gas prices took their toll.
Ørsted has picked a local venture of heavy lift specialist Mammoet to support development of its major Greater Changhua wind projects off Taiwan.
Danish wind developer Ørsted has sold its remaining stake in the London Array offshore wind scheme off the Kent coast.
Offshore wind projects are facing an economic crisis that erased billions of US dollars in planned spending this week — just as the world needs clean energy more than ever.
The government has given Ørsted (CPH:ORSTED) the green light to develop its proposed 2.6GW Hornsea Four project off the Yorkshire coast.
Brostrøm joined Shell in August 2021. He had previously acted as president of Ørsted North America, overseeing offshore wind plans in Massachusetts and New Jersey.
Project partners behind the Salamander floating wind farm have signed an exclusivity agreement with Crown Estate Scotland following success in the INTOG leasing round.
Ørsted reported a “strong start” to 2023 in its Q1 financial statements, as power generation and earnings from its offshore portfolio rose.
A cargo ship has sustained damage to the outer skin of its hull following a collision with a turbine in Orsted’s Gode Wind 1 offshore wind farm in Germany.
Rising demand to install offshore wind for zero-carbon electricity means the supply chain will need to triple before the end of this decade, Orsted’s chief said.
Ørsted has taken a final investment decision (FID) on the 920 MW Greater Changhua 2b and 4 offshore wind farms in Taiwan.
In the first episode of Season 2 of the Gigawaters podcast, Sustainable Growth Voice editor Felicia Jackson and her guests discuss the challenges and opportunities in deploying Scotland’s 28GW offshore wind pipeline.
Orsted has cast some doubt over its future UK offshore wind projects after yesterday’s budget failed to deliver a “full package of support”.
Orsted (CPH: ORSTED), the developer behind the giant Hornsea Three windfarm, has said the £8bn development is at risk without tax breaks.
A skills and innovation hub set for the Highlands is being backed by floating offshore wind developers Renantis, BlueFloat Energy and Orsted.
Shell Ventures principal Bilal Ahmad said he saw more opportunity in “clean energy than I see in oil and gas. As a venture fund, we’ve ceased investing in oil and gas. It doesn’t make sense, from a returns perspective.”
Energy bosses have stressed the significance of the subsea industry in pinpointing a solution that allows carbon storage and offshore wind to coexist.