New Report Outlines Big Potential for Offshore Wind
Offshore wind currently represents just a small piece of the world’s energy supply. But that’s changing faster than ever before as new and existing players look to tap the huge resource potential—and market opportunities—being unlocked by shrinking costs and technological advances, as outlined in a recent comprehensive market report.In the coming two decades, the rapidly maturing offshore wind market is expected to become a trillion-dollar business as the pace of installed capacity growth accelerates…
Belgium: Northwester 2 Offshore Wind Farm Complete
The 219 MW Northwester 2 wind farm has been completed and is now supplying the Belgian grid electricity by all of its 23 fully operational wind turbines producing 9,5 MW each. This wind farm, owned by Parkwind (70%) and Sumitomo (30%) is the first to use the MHI Vestas V164-9.5 MW turbines in commercial operation. The first turbine was installed in December 2019.This is the seventh wind farm in the Belgian North Sea, which now brings the total offshore energy capacity to 1…
Renewable Power Capacity to Rise 50% in Five Years
Global renewable energy capacity is set to rise by 50% in five years' time, driven by solar photovoltaic (PV) installations on homes, buildings and industry, according to the International Energy Agency (IEA).Total renewable-based power capacity will rise by 1.2 terawatts (TW) by 2024 from 2.5 TW last year, equivalent to the total installed current power capacity of the United States.Solar PV will account for nearly 60% of this growth and onshore wind 25%, the IEA's annual report on global renewables showed.The share of renewables in power generation is expected to ris
UK to Account for 35% Offshore Wind in Europe
The UK will account for 35% of the growth in offshore wind over the next five years, followed by the Netherlands and Germany, said , according to WindEurope’s new ‘Wind Energy Outlook to 2023’.In the next five years 22 GW of wind energy capacity will reach the end of its normal operational life (20 years). Most of this will get a lifetime extension. Around 2 GW will be repowered.And another 2 GW will be fully decommissioned. Government policy and regulation is still not as supportive of repowering as it should be…
Scandinavia's Largest Offshore Wind Farm Opens
European energy giant Vattenfall opened Scandinavia’s largest offshore wind farm, Horns Rev 3.The 49 wind turbines on the Horns Rev 3 also represent Vattenfall’s and Denmark’s largest offshore wind farm, which is located 25-40 kilometers off Denmark’s west coast in the North Sea.Yesterday (22 August 2019), Crown Prince of Denmark accompanied by Danish Prime Minister Mette Frederiksen and the Minister of Climate, Energy and Utilities Dan Jørgensen officially opened Denmark’s…
Cheap Gas Killing US Coal -Rystad
A new study revealed that coal power is being replaced by cleaner energy sources in the US – primarily due to an abundance of cheap natural gas.According to Rystad Energy, new renewable energy capacity from solar and wind is on the rise in the US, and April 2019 marked the first month when more electricity was generated in the country from renewable sources than from coal.However, the growing renewable energy sector alone is not wholly responsible for the on…
India Eyes $250 bln for Renewable Energy
India is undertaking one of the world’s largest renewable energy expansion programs, which will require additional investments of around $80 billion till 2022, growing more than threefold to $250 billion during 2023-30.According to the Economic Survey 2019, the investment estimates, which have been made at current prices, come at a time when India has become one of the top renewable producers globally with ambitious capacity expansion plans.The Survey presented…
Europe Invests $30bln in Wind in 2018
Europe invested a total of EUR27bn (USD 30.34bln) in new wind farms in 2018, allowing it finance a record amount of new wind energy capacity, according to European trade body WindEurope.Europe invested EUR 10.3 billion in new offshore wind farms with a combined capacity of 4.2GW in 2018.Investments in new offshore wind projects increased by 37% from 2017 but were still some way off the record EUR 18.2 billion seen in 2016, according to the report. The capacity…
APM Terminals Pushes Solar Energy in India
South Asia's APM Terminals Inland Services, operator of port and integrated inland service networks, is helping set up solar power plants in deep pockets of India.The global terminal network company is providing tailor-made logistics solutions to help overcome transport, technical and procedural challenges.The company is now offering a new end-to-end solution for major solar projects, which includes receiving cargo at the sea-port, facilitating customs inspection and clearance…
Europe Offshore Wind Capacity Up 18% in 2018
Europe installed a total of 2.6 gigawatts (GW) of new offshore wind capacity in 2018, an 18% increase which takes the region to a total capacity of 18.5 GW.According to new figures published this week by the region’s wind energy trade body, WindEurope, 15 new offshore wind farms came on line. The UK and Germany accounted for 85% of the new capacity: 1.3 GW and 969 MW respectively.Europe now has 105 offshore wind farms across 11 countries with a total capacity of 18.5 GW.
France to Double Renewables Capacity Under Energy Plan
France plans to double its renewable energy capacity with a system of regular tenders under a draft 10-year energy strategy plan published on Friday.The so-called PPE plan, which lays out capacity targets for various energy sectors over the 2019-2023 and 2024-28 periods, also confirmed that four to six nuclear reactors - including two in Fessenheim - will be closed by 2028, as announced late last year.France aims to boost electrical renewable energy capacity - including hydropower - from 48.6 gigawatt (GW) end 2017 to 74 GW in 2023 and 113 GW in 2028…
RWE Could Spend up to $2.8 bln a Year on Renewables
RWE, which will become the world's No.2 offshore wind player following a deal to break up its Innogy unit, could spend about 2.5 billion euros ($2.8 billion) a year to expand its renewables business, its chief executive said."We can fund about 1.5 billion euros from our own funds, we could assume some debt which would bring it to about 2.5 billion," Rolf Martin Schmitz said at an energy conference in Berlin on Tuesday.RWE, which last week said it had earmarked 1.5 billion euros per year to expand its renewables business, aims to add an annual 2-3 gigawatts of green ene
Tilting at Windmills: Spain Strains to Meet Record Renewables Goal
Wind turbine maker Siemens Gamesa is booking 14 colossal specialized cranes, has hired new staff and boosted capacity by up to 80 percent at its Spanish factories as developers strain to meet a 2020 deadline for cutting carbon emissions.More wind farms are set to be built across Spain in 2019 than in any previous year, the APPA association of renewable energy companies calculates, surpassing a pre-recession boom in 2008 and putting unprecedented pressure on the supply chain."It is an enormous challenge ...
Spain Strains to Meet Record Renewables Goal
Wind turbine maker Siemens Gamesa is booking 14 colossal specialized cranes, has hired new staff and boosted capacity by up to 80 percent at its Spanish factories as developers strain to meet a 2020 deadline for cutting carbon emissions.More wind farms are set to be built across Spain in 2019 than in any previous year, the APPA association of renewable energy companies calculates, surpassing a pre-recession boom in 2008 and putting unprecedented pressure on the supply chain."It is an enormous challenge ...
Germany Reaches Deal to Boost Renewable Energy Capacity -SPD
Chancellor Angela Merkel's CDU and its Social Democrat (SPD) partners have agreed to keep their promise to speed up the expansion of renewable power installations, ending months of wrangling, an SPD spokeswoman said on Wednesday.Renewable energy is one of the most important drivers of Germany's plans to become a low-carbon economy, part of the country's commitment to help to combat global warming.As part of these efforts, the German government agreed in January…
'Renewable Majors' will Pioneer Green Energy Transition, says Orsted CEO
Danish offshore wind specialist Orsted aims to become one of a handful of future "renewable majors" that will lead a global transition from fossil fuels to green energy, the company's chief executive said.Orsted has gone through a rapid transition since 2012 when CEO Henrik Poulsen took the helm, shedding its oil and gas business and phasing out coal to become almost entirely green.The group, which has installed about a quarter of the world's offshore wind capacity…
DNV GL, EU to Promote Offshore Wind Market in Indian
DNV GL, the world’s largest resource of independent energy experts and certification body, is today showcasing the final reports in a study which demonstrates the commercial and technical feasibility of the offshore wind market In India. Co-funded by the European Union (EU), GPCL and ReNew Power the Facilitating Offshore Wind in India (FOWIND) project will enable organisations to make future investments in the region. India has made strong commitments under the UN Paris Climate Agreement and announced ambitious renewable energy goals in 2015…
Taiwan: The Next Battleground for Offshore Wind
Taiwan is becoming the next battleground for the world's top offshore wind developers as they seek a foothold in Asia for a technology that has been expanding fast in Europe.Taiwan announced results on Monday of its first major offshore wind farm auction that aims to add 3.8 gigawatts (GW) of capacity to its existing network of just 8 megawatts (MW).The island's offshore wind market is expected to expand to 5.5 GW by 2025, and the government aims to invest $23 billion on onshore and offshore wind projects by 2025…
Total Pays $1.7 bln for French Electric Retailer
Acquisition makes Total major competitor for EDF; and they paid 30 pct premium on Direct Energie's last close. Oil company Total said it will buy a majority stake in French electricity retailer Direct Energie in a 1.4 billion euro ($1.73 billion) deal that beefs up its challenge to state-owned market leader EDF. The deal is part of Total's strategy to grow its low-carbon energy assets to 20 percent of total assets by 2035 from 5 percent today and comes as other global oil and gas majors also shift to more renewable energy and electricity.
Belgium to Double Offshore Wind Energy Capacity
Belgium will double the area of its North Sea waters made available to offshore wind parks after 2020, the government announced on Friday, as part of its exit strategy from nuclear power. The country has four offshore wind parks that produce 871 megawatts of power and wants to increase that capacity to 2.2 gigawatts by 2020 and to 4 gigawatts by 2030. After 2020, the government plans to designate a new, 221-square-kilometre (85 square miles) area near French waters.
