Jeremy Grant’s Post

China has operated an oil field off the coast of Scotland since 1993. One of its state-owned companies has been operating a wind farm in the North Sea (with other companies) since 2019. Now, one of its biggest wind turbine makers appears to want to make wind turbines in Scotland, becoming part of the crucial energy supply chain for offshore wind. Offshore wind will provide a degree of energy security for the UK. #renewables #Scotland #China I explore the implications here: https://lnkd.in/eA6zGD-A

China's Mingyang Smart Energy - the world's largest wind turbine manufacturer - appears to be planning to set up a wind turbine manufacturing facility in Scotland. Mingyang is one of 38 companies on a list of projects that have moved forward as part of a process (known as the Strategic Investment Model, or SIM) to encourage collaboration in the building of a robust supply chain for ScotWind, the vast 20-consortia offshore wind project in the North Sea. SIM is a project of the Scottish Offshore Wind Energy Council (SOWEC), in partnership between the Scottish public sector and the offshore wind industry, and co-chaired by a Scottish government minister and SSE Renewables. Mingyang, which is headquartered in Zhongshan city, Guangdong province, and trades on the Shanghai stock exchange, is listed in SOWEC's latest update on SIM in reference to a project described as "Wind Turbine OEM Facility" (OEM means "original equipment manufacturer"). It already has 40GW of wind turbines installed worldwide at over 700 wind farms. On the same list is another Chinese company, Daijin Heavy Industries, which is listed with a "Tower and Foundation Manufacturing Facility", which refers to the wind turbine towers to which wind turbine blades are attached. Taken together, these two entries signal the clear interest of large Chinese offshore wind companies in Scotland's renewables sector, specifically the supply chain for ScotWind, the UK's largest offshore wind project (by far). Some of ScotWind's consortia include companies such as Marubeni Corporation Ørsted Renantis Shell bp EnBW Energie Baden-Württemberg AG and Technip #Scotland #renewables #offshorewind #China I discuss some of this here: https://lnkd.in/eA6zGD-A

Returning from #NewOrleans and #IWBS24, the concern among US #stakeholders in the #offshorewindenergy industry is palpable as the #Trump administration prepares to take the helm in two months. With #governmentfunding and support in potential peril, an interesting perspective on the #renewableenergy markets globally. https://lnkd.in/ghRtup5Z #offshoreenergy #offshorewind #markets #shipsandshipping #SOV #WTIV Equinor Rystad Energy Wood Mackenzie GE Vernova International Renewable Energy Agency (IRENA) Ørsted WindEurope Global Wind Energy Council (GWEC)

Returning from #NewOrleans and #IWBS24, the concern among US #stakeholders in the #offshorewindenergy industry is palpable as the #Trump administration prepares to take the helm in two months. With #governmentfunding and support in potential peril, an interesting perspective on the #renewableenergy markets globally. https://lnkd.in/ghRtup5Z #offshoreenergy #offshorewind #markets #shipsandshipping #SOV #WTIV Equinor Rystad Energy Wood Mackenzie GE Vernova International Renewable Energy Agency (IRENA) Ørsted WindEurope Global Wind Energy Council (GWEC)

The low CFD price of France’s first commercial floating offshore wind farm (250 MW) has raised concerns among industry who warn the project may fail or rely on cheaper foreign equipment. “There is a risk that the developer will no longer be able to complete the project or that they will be able to, but by using delocalised low-cost equipment,” Philippe Thieffry, head officer at Bretagne Ocean Power, said. The project was set to be commissioned by 2031, which meant placing orders for equipment around 2028-2029, by which time it may be no longer be economically viable if costs changed, said Michel Gioria, head of renewables lobby France Renouvelables. “There are several ways of achieving a low price, there’s using more powerful wind turbines and using subcontractors in countries that practice social and environmental dumping,” Matthieu Blandin, chief strategy officer at maintenance provider Valemo said, while French turbine manufacturers were less likely to build very big turbines. Article en français : https://lnkd.in/ehtRXJ5e https://lnkd.in/eab3J4aC

RWE was one of the shrinking number of global #offshorewind giants yet to make its mark in #Australia's burgeoning market - that's now changed WORLD FORUM OFFSHORE WIND (WFO) International Renewable Energy Agency (IRENA) Asia Wind Energy Association #renewableenergy #windpower

Exciting Advancements in South Korea's Offshore Wind Sector: A Game-Changer for Marine Industry! 🌊⚡ As the world moves toward a greener future, South Korea is making waves with its ambitious RE100 commitment. The country is accelerating its renewable energy goals, aiming for 12 GW of offshore wind power by 2030. This is especially relevant for those of us in the marine industry, where innovation and sustainability go hand in hand. Key developments include a partnership between Total and Macquarie’s Green Investment Group to develop 2+ GW of floating offshore wind projects. Additionally, Doosan Heavy Industries is leading with advanced turbine production, driving projects like the 2.5 GW wind farm in North Jeolla Province, expected to be completed by 2029. With these major initiatives, South Korea is positioning itself as a global leader in offshore wind energy—and the marine industry stands to benefit immensely from these innovations. For more related information, you may check out this link: https://lnkd.in/g6Pf2hqZ #RenewableEnergy #OffshoreWind #MarineIndustry #Sustainability #Innovation #BusinessDevelopment #WindFarm

One of the largest wind farms off the Scottish coast with significant ultimate Chinese ownership has just started generating power for the first time. OW Ocean Winds UK's Moray West wind farm has this week delivered electricity to the grid ahead of final completion of construction of the facility in 2025. Ocean Winds is a joint venture between Portugal's EDP Renewables and ENGIE of France. EDP Renewables is wholly owned by EDP, whose largest single shareholder (21%) is China Three Gorges Corporation, a state-owned hydro-power company that has been expanding rapidly in offshore wind (spending $6.5 billion in 2022 on three offshore wind farms in southeastern Guangdong province, making it the world's largest offshore wind operator, according to the FT's Lex column in January, 2022). Other shareholders in EDP Renewables include BlackRock (3.2%) and GIC, Singapore's sovereign wealth fund (4.3%). #renewableenergy #offshorewind #Scotland #China

LONDON, Sept 28 (Reuters) - A perfect storm of supply chain delays, design flaws and higher costs in the offshore wind industry has put dozens of projects at risk of not being delivered in time for countries to meet climate goals, industry executives, investors and analysts said. The race to reduce reliance on fossil fuels is putting pressure on manufacturers and supply chains to keep pace with demand for more clean energy, especially in the European Union which is finalising a legally binding goal to produce 42.5% of energy from renewables by 2030. Up from 32% now, the new target would require 420 gigawatts (GW) of wind energy including 103 GW offshore, more than double current capacity of 205 GW of which just 17 GW is offshore, according to industry group WindEurope. But so far this year, projects off Britain, the Netherlands and Norway have been delayed or shelved due to rising costs and supply chain constraints while Britain's renewable energy auction this month failed to attract any bids from offshore wind developers, also because of high industry costs. https://lnkd.in/gnXshVGJ

Equinor's Bold Move in Offshore Wind 🌊 While many European energy giants are slowing down offshore wind investments — and getting rewarded by the stock market — Equinor is taking a different approach. They’ve just acquired a 10% stake in offshore wind leader Ørsted, doubling down on offshore wind at a time when the ROI for offshore wind is being questioned. Will Equinor’s bold strategy pay off, or will the market push back? Either way, they’re sending a strong signal about the future of energy transition. ⚡ #EnergyTransition #Renewables #OffshoreWind #Equinor #Sustainability #OilandGas #EnergyInvesting