TGS | 4C Offshore Wind News’ Post

WEBINAR: U.S. Offshore Wind Market Update ⌛Don’t miss the opportunity to join our experts for an insightful discussion on key developments in the U.S. offshore wind market. Register: https://hubs.ly/Q02VtYtx0 When: Thursday, October 24 at 2 p.m. BST | 9 a.m. EDT | 8 a.m. CDT In 2024, eight offshore wind projects have already received final approval for bidding, with three more expected by year’s end. More than 15 GW of offshore wind capacity now has government approval in the U.S. As interest rates fall and supplier contracts solidify, billions of dollars will be invested in manufacturing, construction, and services in the U.S. Northeast. Next week’s Gulf of Maine offshore wind lease auction could add 15-20 GW of capacity, featuring over 150 floating wind turbines — an engineering achievement stretching 125 miles (equivalent to the distance from New York City to Atlantic City). Want to learn more? Register for our webinar on U.S. offshore wind and supplier opportunities this Thursday! #USOffshoreWind #GulfofMaine Bureau of Ocean Energy Management

*** German Offshore Wind Market Update: ----------------------------------------------- As we await the German government to announce the results of the latest Offshore Wind auction, here's a brief summary of this round: - Two offshore wind sites in the North Sea with a total capacity of 2,500 MW are being auctioned in this round; - Nine bids were received for the 1,500 MW capacity, N‑11.2 site; - Seven bids for the 1,000 MW capacity N‑12.3 site; - The bidding deadline for the auctions for these two non-centrally pre-investigated sites was 3 June 2024; - Dynamic bidding started on June 17, 2024 and comprises up to 13 rounds per day; - Bids start at €30,000/MW, or the equivalent to €45 million for the 1,500 MW site and €30 million for the 1,000 MW site; As you may recall, last years sites awarded bids total €12.6bn for four sites with a total capacity of 7,000 MW, with UK-based bp winning 4,000 MW and France-based TotalEnergies winning 3,000 MW As an specialist offshore wind M&A firm, NORTHGREEN CAPITAL remains quite active with clients across the German offshore wind ecosystem. We sees Germany as one of the key markets for us in Europe. In the comments below, tell us why you believe Germany is an interesting energy market in Europe's energy transition? #offshorewind #energytransition #transactionadvisory #northgreencapital

A few of you have reach out, so here it is... Here are some details regarding the results of the most recent German offshore wind auction, announced today on June 21, 2024. Offshore Wind One GmbH was awarded the contract for N-11.2 (1.5 GW) at a bid value of €1.305 million/MW and EnBW Offshore Projektgesellschaft 1 GmbH was awarded the contract for N-12.3 (1.0 GW) at a bid value of €1.065 million /MW. This corresponds to a payment by the successful bidder of €1.9575 billion for N-11.2 and a payment of €1.065 billion for N-12.3. So the total bids for this round are nearly €3 billion for 2.5 GW. An interesting "nugget" Offshore Wind One GmbH was originally a JV between RWE and TotalEnergies , however as the bidding escalated, RWE bowed out and hence TotalEnergies will pay 100% of the €1.9575 billion bid price. Remember in the last German offshore wind auction round, winning bids were nearly €12.6 billion for 7.0 GW. At that time, TotalEnergies won the rights to develop two offshore wind projects for a total of 3 GW capacity and bp was awarded sites representing 4 GW. TotalEnergies had said that its projects were in line with the German government's objective of deploying 30 GW of offshore wind power in Germany by 2030. #offshorewind #energytransition #transactionadvisory #northgreencapital

U.S. offshore wind power is gaining momentum. American Clean Power Association (ACP)’s 2024 Offshore Wind Market Report shows that the offshore wind industry is projected to invest $65 billion toward projects by 2030, which will support 56,000 American jobs. Learn more: https://bit.ly/3S0vtTH

Bundesnetzagentur, Germany’s Federal Network Agency, has received a record volume of bids for its latest onshore wind tender. “This tender is a record,” remarked Klaus Müller, President of the Federal Network Agency. “The bid volume of almost 3 GW significantly exceeds the volume of 2.5 GW required to achieve the annual expansion target.” For the tendered volume of 2,709 MW, 239 bids were submitted, totalling 2,961 MW, which marked the first time a bid window was oversubscribed since February 2022. Following Bundesnetzagentur’s evaluation, 230 bids were awarded contracts, representing 2,723 MW. Only one bid was excluded from the process. In the lead-up to the deadline, the Federal Network Agency said it reduced the tender volume from 4.1 GW to 2.7 GW, based on data indicating the contract’s imminent oversubscription. Despite the reduction, the volume of bids exceeded expectations, largely due to an increased number of submissions with older permits compared to previous rounds. Projects not awarded in this round may participate in the next tender scheduled for November 2024. The agency will decide the volume for that round by 18 October 2024, considering the available data at that time. The bidding prices in this round ranged from 5.73 to 7.35 ct/kWh, with the average volume-weighted price at 7.33 ct/kWh—only marginally below the maximum allowable price of 7.35 ct/kWh. The majority of contracts were awarded to sites in North Rhine-Westphalia, which secured 756 MW across 84 projects. Other key regions included Brandenburg (385 MW, 23 contracts), Schleswig-Holstein (285 MW, 24 contracts), Hesse (246 MW, 8 contracts), and Lower Saxony (237 MW, 24 contracts). In the southern federal states, Bavaria received eight contracts totalling 101 MW, while no projects in Baden-Württemberg were awarded contracts. PNE Group secured 24 MW of capacity across two wind projects in the tender. PNE was successful with the 18 MW Gnutz-Ost’ wind farm, comprising three wind turbines in Schleswig-Holstein, and the single turbine 6 MW Helenenberg wind farm in Rhineland-Palatinate. Both wind farms are scheduled to go into construction or operation during 2025. PNE has been successful with nine wind farms totalling 141.9 MW in the February, May, and August tenders. #cleanenergy

Offshore Wind Sector to Invest $65 Billion and Create 56,000 U.S. Jobs by 2030 Reading Time: 1 minutesThe American Clean Power Association (ACP)released the 2024 Offshore Wind Market Report, indicating that the clean power industry is expected to invest $65 billion in offshore wind projects by 2030, supporting 56,000 jobs in the United States. Currently, 12 gigawatts (GW) of projects have active offtake agreements, with 4 GW under construction at Vineyard Wind, Revolution Wind, and Coastal Virginia Offshore Wind. With 37 leases in the U.S., there are now 56 GW (56,363 MW) of capacity under development, capable of powering 22 million homes. Market analysts predict 14 GW of offshore wind will be deployed by […] - https://lnkd.in/dzH8uX54 #windenergy #windturbines #offshorewind #windturbine #cleanenergy #climatechange #sustainability #energynews #smartenergy #windfarm #windindustry #renewableenergy #renewables #america #northamerica #offshorewind #renewableenergy #unitedstates #windenergy #windturbines

Global Offshore Wind Installations Reach 10.8 GW in 2023, Setting Stage for Accelerated Growth #RenewableEnergy #GreenEconomy #Energy #EnergyTransition https://lnkd.in/geSyg_iX

Global Offshore Wind Installations Reach 10.8 GW in 2023, Setting Stage for Accelerated Growth #RenewableEnergy #GreenEconomy #Energy #EnergyTransition https://lnkd.in/geSyg_iX

YET TO TAKE OFF America’s Troubled Offshore Wind Push May Yet Take Off https://hubs.la/Q02vyjhJ0 Recent headlines on US offshore wind have been grim: big developments delayed or scrapped; billions of dollars in losses; jumbled supply chains; and the potential return of a professed wind-hater to the White House. #offshorewind #windenergy #wind #energyindustry #renewableenergy #renewables

There have been a lot of discussions about development and construction but not so much on the transportation and installation solutions related to offshore wind so please join my colleagues as they share a little bit about the T&I aspects of offshore wind. #offshorewind #dnv #floatingwind #wind #oneDNV #APAC