Offshore wind will be at the center of Mitsubishi’s growth plans in Europe as it leads an acquisition of Dutch utility Eneco. A group led by Mitsubishi beat out other bidders including Shell in reaching a €4.1 billion ($4.5 billion) deal to buy Dutch energy company Eneco, which the Japanese conglomerate intends to make the […]
Oil and Gas Companies Can Power Offshore Platforms With Renewables
Offshore oil and gas platforms use 16 terawatt-hours a year to power their operations. This is an opportunity for wind and solar. Today around 5 percent of global offshore oil and gas wellhead production is used as fuel to power offshore production platforms. However, using wellhead production to power operations reduces sales volumes and increases […]
Who Will Fund the Renewables Boom of the Next 15 Years?
New solar and wind investment could hit $190 billion a year by 2035, Wood Mackenzie says. Where will that money come from? How much capital for renewables is likely to be deployed going forward, and where will it come from? Wood Mackenzie estimates that the combined global capex spend on wind and solar projects will […]
Shell New Energies EVP: Hydrogen Subsidies Will Pay Off, Just Like They Did for Solar
Shell’s Mark Gainsborough on renewables, hydrogen and bringing together the oil giant’s burgeoning family of clean-energy businesses. PARIS : Shell expects its filling stations to eventually become fossil-fuel-free. But getting there will require major changes, and in the energy business, change often means subsidies. So it is with hydrogen, says Mark Gainsborough, executive vice president […]
US Cracks 100GW of Wind as Post-Subsidy Era Looms
Discussions are progressing on Capitol Hill about additional support for renewable energy, AWEA chief executive Tom Kiernan said. The U.S. has surpassed 100 gigawatts of wind capacity, a momentous milestone that comes as the industry girds its loins for a post-subsidy world. It was the largest third quarter on record for the U.S. wind market, […]
Shell and EDPR Win Massachusetts’ Second Offshore Wind Tender
Mayflower Wind joint venture’s 804-megawatt project will sell power at a lower price than Vineyard Wind’s landmark development. Shell has its first concrete offshore wind project in U.S. waters. Massachusetts on Wednesday selected an 804-megawatt project backed by Mayflower Wind, a joint venture of Shell and EDP Renewables, as the winner of its second offshore […]
Offshore wind to become a $1 trillion industry
Europe is set to be the engine of growth for this flourishing renewable energy technology, followed closely by China and others COPENHAGEN: Offshore wind power will expand impressively over the next two decades, boosting efforts to decarbonise energy systems and reduce air pollution as it becomes a growing part of electricity supply, according to an International […]
Equinor Gives Nod to 88MW Floating Wind Farm
Norwegian oil giant further cements position as leading floating wind developer with 11-turbine project near offshore oil fields. Norwegian oil giant Equinor and a group of partners have greenlighted an 88-megawatt floating offshore wind farm, set for completion in 2022. The Hywind Tampen project will serve five oil and gas platforms in Norway’s part of […]
Macquarie’s Green Bank Embraces ‘Enormous Game’ of Offshore Wind
One of the world’s biggest investors in renewable energy sees a growing opportunity in offshore wind projects. More certainty from governments about future regulation and the expansion of new floating technology could drastically broaden the opportunities for investors, according to Mark Dooley, global head of Macquarie Group Ltd.’s Green Investment Group. “I love offshore wind. […]
7 Projects That Could Put the US Ahead in Floating Offshore Wind
The U.S. is a late arrival to the offshore wind party. But it could play a leading role as floating projects sail toward commercialization. The U.S. is late to the offshore wind party compared to Europe and China. And the injection of new regulatory uncertainty in the shape of permitting delays at Vineyard Wind’s 800-megawatt […]