Global Wind Capacity to Reach 626 GW
The global wind power industry is expected to install more than 626,800 MW of new capacity over the next decade, said a report.According to a report from Navigant Research, this new capacity represents a market worth more than $92 billion in 2019 and more than $1 trillion over the forecast decade.According to the report, global offshore wind development is expected to experience a 16% compound annual growth rate over a 10-year forecast period.China, Taiwan, and Europe are the leading markets…
Vestas Bets on Geared Turbines in Tough Wind Markets
Geared turbines said to be cheaper than direct drive rivals and the wind power industry is facing severe cost pressures. Vestas is betting on geared wind turbine technology to meet the ambitious profit-margin target it promised when it reported quarterly results on Wednesday. The world's biggest turbine maker said it targeted a operating profit margin of 9-11 percent in 2018. While this represented a modest decline it was far higher than expected by analysts who…
Corvus Energy, LG Chem Partner
Corvus Energy (Corvus) announced a multi-year agreement with LG Chem Ltd. (LG Chem). Under this agreement, LG Chem, a manufacturer of advanced lithium-ion batteries, will be a key supplier of lithium-ion pouch cells for Corvus’ next generation maritime energy storage systems (ESS). The agreement provides Corvus with the latest technology from the world’s dominant producer of cells for both transportation and grid applications (Navigant Research, 2015). As such…
GE Wind-power Business Looks to Global Expansion
General Electric Co looking to grow its wind-power business by increasing installations of turbines globally while providing services such as data analytics to improve their performance, a top company energy executive said on Wednesday. The U.S. conglomerate plans to have a presence with its wind turbine business in 35 or more countries next year, up from eight in 2003. Anne McEntee, chief executive officer of GE's renewable energy business, pointed to the importance…
'Smart' Tech May Make Utilities More Vulnerable to Hackers
Last November, Felix Lindner came very close to shutting down the power supply of Ettlingen, a town of almost 40,000 people in the south of Germany. "We could have switched off everything: power, water, gas," Lindner, head of Berlin-based Recurity Labs, an IT security company, said. Fortunately for residents, Lindner's cyber attack on its energy utility, Stadtwerke Ettlingen, was simulated. But he revealed how easy it was to hack into the utility's network through its IT grid, which gave him access to its control room.
China's Goldwind Wins Contract for Panama Wind Farm
Chinese wind turbine maker Xinjiang Goldwind Science and Technology Co Ltd won a $427 million contract to supply a wind farm in Panama, its largest international order, the company said on Friday. The deal is for the second stage of a project at Penonome in central Panama and will be financed by Dominican Republic-focused power generation investor InterEnergy Holdings, Goldwind said in a statement. The Beijing-based company, which Navigant Research placed as the world's second largest turbine manufacturer in 2013…
Global Offshore Wind Services Insights: New Strategic Review
The Danish Shipowners’ Association has released the strategic review it commissioned from Navigant Consulting in order to gain a comprehensive insight into the global offshore wind industry. The strategic review maps all active and prospective ships in the offshore wind industry; identifies and profiles all key players in the sector; provides detailed country- level offshore wind 10-year forecasts for all existing and potential offshore wind markets; and delivers…
Siemens Wins U.S. Inaugural Commercial Offshore Windfarm Project
Siemens and Cape Wind have signed a major contract for the construction of the United States' first utility-scale offshore wind farm situated off the Northeast coast, 20 kilometers offshore of Nantucket, at Horseshoe Shoal in the Nantucket Sound. Installation and commissioning is expected for 2016. Siemens says it will supply Cape Wind with its industry-leading 3.6-megawatt offshore wind turbines, an offshore Electric Service Platform (ESP) and a long-term service agreement. When fully built, Cape Wind will have a capacity of 468 megawatts.