Lindsey Oil Refinery, UK insolvency proceedings
The government's insolvency services announced on Monday that Britain's Lindsey refinery had begun insolvency procedures, raising the possibility of it closing weeks after Grangemouth stopped processing oil. According to the U.S. Energy Information Administration (EIA), Lindsey, one of Britain's six remaining oil refineries, is set to close, increasing Britain's dependence on fuel imports. According to its website, Prax has a capacity of 113,000 barrels a day. The government placed Prax Storage Lindsey and Prax Terminals Killingholme under judicial winding up orders.
Denmark warns EU not to stop green transition
The climate minister of Denmark said that European nations must not stop the green transition on the continent. His country is preparing to lead EU negotations over a new climate goal amid backlash from governments worried about its costs. Next week, the European Commission will propose a new climate target for 2040 that will reduce EU emissions by 90 percent compared to 1990 levels. However, countries such as Poland and France are concerned that this goal is too ambitious. Lars Aagaard is the energy and climate minister of Denmark.
Japan is poised to amend offshore wind regulations as players get coldfeet
Insiders in the industry say that Japan will likely sweeten its terms to developers who want to build an offshore wind farm. The country is looking to re-establish its energy ambitions against a global slump of projects that have been hit by rising costs and delays. By 2040, the government wants to reach 45 gigawatts in offshore wind power, which will reduce its dependence on coal and gas imports for electricity generation, as well as its carbon emissions, and strengthen national security. Its plans have stagnated after three rounds of major auctions for capacity development.
Japan is poised to amend offshore wind regulations as players get coldfeet
Insiders in the industry say that Japan will likely sweeten its terms to developers who want to build an offshore wind farm. The country is looking to re-establish its energy ambitions against a global slump of projects that have been hit by rising costs and delays. By 2040, the government wants to reach 45 gigawatts in offshore wind power, which will reduce its dependence on coal and gas imports for electricity generation, as well as its carbon emissions, and strengthen national security. Its plans have stagnated after three rounds of major auctions for capacity development.
Denmark Plans Offshore Wind Tender With Up to $8.3 Billion Subsidy
Denmark will launch offshore wind tenders with a capacity of three gigawatt (GW), enough to power three million homes, its energy ministry said on Monday, offering subsidies to developers of up to 55.2 billion Danish crowns ($8.32 billion).The three tenders will open in the autumn this year and cover two areas in the Danish North Sea and one in the waters separating Denmark from Sweden.Two tenders will close in spring 2026 and one in the autumn of 2027, with completion expected by 2032 and 2033 respectively.The offshore wind industry has grappled with skyrocketing costs, higher interest rates and supply chain bottlenecks, prompting governments to halt
Denmark Plans to Offer Up to $8.3 Billion in Subsidies for Offshore Wind
Denmark's energy ministry announced on Monday that it will offer offshore wind tenders for a maximum of 3 gigawatts (GW), which is enough to power up to three million homes. The subsidies offered to developers could reach as much as $55.2 billion Danish crowns (8.32 billion dollars). Three tenders are scheduled to open this autumn, covering two areas of the Danish North Sea as well as one area in the waters between Denmark and Sweden. The two tenders are expected to close in spring 2026, and the other in autumn 2027. Both will be completed by 2032 or 2033.
Minister: Denmark may lift 40-year-old ban on nuclear energy
Denmark may lift a ban on nuclear energy that dates back 40 years to improve its energy security. This is a major policy shift for a country which has prioritized expanding wind and solar energy. Lars Aagaard, the Minister of Climate, Energy and Utilities, said that the Danish government would analyse potential benefits from new nuclear technologies, and a report is expected to be completed next year. Denmark has not had much experience with nuclear energy, so it's important to start analyzing the potential. "Can this technology complement the dominant technologies in our country, solar and wind power?," he asked.
Minister: Denmark may lift 40-year-old ban on nuclear energy
Denmark may lift a ban on nuclear energy that dates back 40 years to improve its energy security. This is a major policy shift for a country which has prioritized expanding wind and solar energy. In an interview with Danish newspaper Politiken published late Tuesday, Lars Aagaard, the Minister of Climate, Energy and Utilities, said that the Danish government would analyse potential benefits from new nuclear technologies. A report is expected to be completed next year. But it is not enough to say that they are capable. "We also need to understand what these technologies mean for the Danish society," he said.
World's First Commercial-Scale E-Methanol Plant Opens in Denmark
The world's first commercial-scale e-methanol plant began operations in Denmark on Tuesday, with shipping giant Maersk set to buy part of the production as a low-emission fuel for its fleet of container ships.The shipping sector is under pressure to find new sources of fuel after a majority of countries gave their backing to measures to help meet the International Maritime Organization's targets towards eliminating carbon emissions by 2050.So far zero-emission shipping fuels, such as green ammonia and e-methanol, which are produced using renewable energy…
Vestas: US Import tariffs Will Raise Domestic Electricity Prices
President Donald Trump's import tariffs will ultimately result in higher electricity prices for U.S. consumers, wind turbine maker Vestas warned on Tuesday, adding it could not absorb the extra costs.Wind turbines include components and materials sourced globally, making the sector vulnerable to potential impacts from international trade tariffs."Ultimately, the tariffs will go in and be part of an increased cost to the projects and therefore it will lead to an increased price in electricity," Vestas CEO Henrik Andersen told Reuters.Denmark's Vestas…
Hydro signs billion-euro contract to supply NKT low-carbon aluminum for EU grid
Hydro, a Norwegian company, announced on Tuesday that it had signed a contract to supply NKT in Denmark with low-carbon aluminum wire rod for the production and upgrade of Europe's grid infrastructure. The European Union published in 2023 a plan to improve the efficiency of their electricity grids, and to roll out upgrades rapidly to help facilitate the energy shift. Hydro announced last month that it would invest 1.65 billion crowns ($159.3 millions) in a new facility to increase its aluminum capacity at its Karmoy smelter, located in Norway. The plant will start producing in 2028.
Report: France will only be able to produce 3 GW of offshore power by 2032
A report from the Institute for Energy Economics and Financial Analysis warned that France could have only 3 gigawatts installed offshore wind power by 2032, due to complex licensing, legal issues and local opposition. The report recommended France streamline its licensing process, reduce the time frame for legal challenges, reform the market regulations, and create a phase-down nuclear plan to encourage more rapid development. France's stated goal is to develop 18 GW in offshore wind energy by 2035. If current delays continue, it will only be a sixth away from that target by the year 2032.
Norway will now focus on floating offshore wind turbines instead of the new bottom-fixed tender
Norway said that it will not be offering acreage for the development of bottom-fixed offshore farms when it announces its next tenders. Instead, it will focus on floating wind power options. The government has previously stated that it will offer new areas along the North Sea, bordering Denmark, suitable for installing turbines on seabeds. These areas may also be connected to other countries through hybrid cables. Terje Aasland, Energy Minister Terje's statement said: "We do not believe it is the right time to plan hybrid cables at this point in time." He cited high costs and the absence of a European framework on hybrid connections.
Equinor reduces renewable energy targets due to industry headwinds
Equinor, a Norwegian energy company, has announced that it will reduce its ambitious targets for developing renewable energy by 2030. This is the latest European energy firm to lower green goals as the renewables market dries up. Equinor has followed in the footsteps of BP and Shell who have cut back on plans to expand renewable energy. This includes offshore wind where they had hoped to use their oil and gas experience at sea to help them. Investors' patience has been tested by the offshore wind industry, which has faced a number of challenges, including rising interest rates, inflation in costs, supply bottlenecks and regulatory changes.
European firms exposed as Trump targets US offshore wind
U.S. President Donald Trump in his first day of office on Monday suspended new federal offshore wind leasing pending an environmental and economic review, saying wind mills are ugly, expensive and harm wildlife.Former President Joe Biden supported the offshore wind industry, setting a target for 30 gigawatts (GW) of projects by 2030, up from 42 megawatts at the end of 2023, prompting many European project developers to acquire leases and plan wind farms in the United States.Trump's executive order is not expected to stop existing U.S. offshore wind projects from being advanced.Below are some of the European companies involved in the U.S.
Document shows that ten EU countries have called for sanctions against Russian LNG and gas
A document obtained by revealed that ten European Union nations have asked the 27-nation group to ban the imports of gas from Russia. This comes as Europe is debating new sanctions against Moscow for its war in Ukraine. The EU is currently preparing its 16th set of sanctions against Russia's economic system, in advance of the third anniversary Moscow's invasion of Ukraine on a large scale. This will take place in February 2022. The 10 countries include the Czech Republic as well as Denmark, Estonia, and Finland. They want Europe to do more to target Russia's oil exports to reduce the revenue flowing to Moscow.
Wind stocks in Europe suffer after Trump labels turbines as 'garbage.'
The European wind power sector fell Wednesday, after Donald Trump, the U.S. president-elect said that he would work to make sure "no new windmills" were built under his watch. He also criticized the sector just two weeks before taking office. Trump's latest attack on the industry has investors worried about the future of the U.S. Wind Market, which is the second largest in the world after China. This could cause companies that have invested in it to sell. Shares of the two largest offshore wind farm developers in the world - Denmark's Orsted…
Sources say that Tesla's former China plant head will join renewable energy company Envision
Two sources with knowledge of the situation said that Tesla's former China Plant Manager is expected to join Chinese renewable energy company Envision. One source said that Song Gang, who announced Wednesday his departure from Tesla, will be taking on supply chain management duties for Envision. Envision and Song didn't immediately respond to separate comments. Tesla did not reply to a question about Song's departure. Envision, headquartered in Shanghai, is the largest wind turbine company in the world. It also has research centers in Denmark, the U.S. and Germany.
Denmark Issues Offshore Wind Permit
The Danish Energy Agency has granted a construction permit for 240-megawatt (MW) Jammerland Bugt offshore wind farm, which is expected to start operating in 2029, developer European Energy said on Tuesday.The project is located in the Bay of Jammerland, on the western side of the island of Zealand.The offshore wind farm is expected to produce power equating the electricity consumption of around 240,000 European households per year, the developer said.The company did not provide any details on the cost of the project, where it is the sole developer.At the end of November…
Sweden's North frets about financial risks as the green boom stumbles
Sweden's local governments, frightened by Northvolt's struggle for survival and its potential impact on taxpayers, have asked the central government to increase financial support for Sweden's transition towards green industry. Last month, Europe's leading electric vehicle battery manufacturer filed for Chapter 11 bankruptcy in the United States with $5.8 billion of debts. The EU's energy transformation is failing, and shockwaves were sent through Skelleftea, northern Sweden, where its Northvolt Ett plant is located. Sweden is leading Europe in its efforts to switch from fossil fuel based industries to nonpolluting energy.
