OEG Renewables’ Post

Invenergy and Avangrid have been awarded the seabed rights to 4 floating wind lease areas off the US, which together can accommodate ~7 GW of capacity. However, bidding lasted just one round, while four other sites went unsold. Moreover, the total price to be paid per square kilometre was ~$10,500, significantly below the ~$500,000/square kilometre for the California floating wind sites. The lack of appetite from developers reflects the recent softening of sentiment around the floating offshore wind sector, and the refocussing of priorities for many developers following exceptionally high lease fees and significant cost inflation in the US recently. Nevertheless, the pipeline of offshore wind projects off the US has now jumped to 67 GW, including 15 GW of floating offshore wind capacity, with the US market still on track to be an important growth area for the global offshore wind sector in the years to come. See Renewables Intelligence Network (www.clarksons.net/rin) for further data and intelligence on the Gulf of Maine auction and the US offshore wind sector. #Renewables #OffshoreWind #FloatingWind

With the capacity of floating wind projects in the pipeline expected to be 244GW globally, it's clear that the sector will be a major contribution to the future energy mix. In fact, 10% of this pipeline could be generated by floating wind turbines in Scotland - with 24.5GW from projects planned in the ScotWind and the Innovation and Targeted Oil & Gas (INTOG) leasing rounds. While a scale-up over the next couple of decades will require solutions to multiple challenges in a relatively short time, this also presents many opportunities, and Scotland already has a head start. We're home to the world’s first commercial scale floating wind farm, and the Offshore Renewable Energy Catapult's Floating Wind Innovation Centre (FLOWIC) in Aberdeen (a UK first). A Strategic Investment Model is encouraging investment and the UK Government’s Floating Offshore Wind Manufacturing Investment Scheme (FLOWMIS) is supporting critical infrastructure and ports 🏗⛴️ In its latest article, GlobalData Energy explores the many factors that are coming together as part of a clear strategy to establish Scotland as a leading global destination for floating wind energy 💪🏼 ➡️ https://ow.ly/N4Se50TolSP #ScotlandIsNow #FloatingWind

With the capacity of floating wind projects in the pipeline expected to be 244GW globally, it's clear that the sector will be a major contribution to the future energy mix. In fact, 10% of this pipeline could be generated by floating wind turbines in Scotland - with 24.5GW from projects planned in the ScotWind and the Innovation and Targeted Oil & Gas (INTOG) leasing rounds. While a scale-up over the next couple of decades will require solutions to multiple challenges in a relatively short time, this also presents many opportunities, and Scotland already has a head start. We're home to the world’s first commercial scale floating wind farm, and the Offshore Renewable Energy Catapult's Floating Wind Innovation Centre (FLOWIC) in Aberdeen (a UK first). A Strategic Investment Model is encouraging investment and the UK Government’s Floating Offshore Wind Manufacturing Investment Scheme (FLOWMIS) is supporting critical infrastructure and ports 🏗⛴️ In its latest article, GlobalData Energy explores the many factors that are coming together as part of a clear strategy to establish Scotland as a leading global destination for floating wind energy 💪🏼 ➡️ https://ow.ly/N4Se50TolSP #ScotlandIsNow #FloatingWind

With the capacity of floating wind projects in the pipeline expected to be 244GW globally, it's clear that the sector will be a major contribution to the future energy mix. In fact, 10% of this pipeline could be generated by floating wind turbines in Scotland - with 24.5GW from projects planned in the ScotWind and the Innovation and Targeted Oil & Gas (INTOG) leasing rounds. While a scale-up over the next couple of decades will require solutions to multiple challenges in a relatively short time, this also presents many opportunities, and Scotland already has a head start. We're home to the world’s first commercial scale floating wind farm, and the Offshore Renewable Energy Catapult's Floating Wind Innovation Centre (FLOWIC) in Aberdeen (a UK first). A Strategic Investment Model is encouraging investment and the UK Government’s Floating Offshore Wind Manufacturing Investment Scheme (FLOWMIS) is supporting critical infrastructure and ports 🏗⛴️ In its latest article, GlobalData Energy explores the many factors that are coming together as part of a clear strategy to establish Scotland as a leading global destination for floating wind energy 💪🏼 ➡️ https://ow.ly/N4Se50TolSP #ScotlandIsNow #FloatingWind #WindEnergyHamburg

Axess Technologies has recently made headlines by securing a significant cable installation contract with HSM Offshore Energy for Denmark's largest offshore wind farm. This achievement not only highlights Axess's expertise in the offshore wind sector but also underscores the growing momentum in the renewables industry, particularly in Northern Europe, where investments in offshore wind continue to surge. The project's success will play a vital role in Denmark's ambitious renewable energy targets and aims to further position the country as a leader in offshore wind development. Reflecting on the importance of collaboration in projects of this magnitude, it's clear that partnerships between innovative companies like Axess and established players like HSM are essential. As they work together to ensure the successful installation of cables, we are reminded of how critical these connections are - both literally and figuratively. With the global offshore wind market projected to grow significantly in the coming years, the need for skilled professionals and innovative solutions will continue to increase. What are your thoughts on the rapid advancements in offshore wind technology? Can we expect more partnerships like this to drive the sector forward? Let's discuss how we can collectively contribute to the growth of renewable energy, sharing our insights and experiences along the way. For more details on this exciting development, check out the full article here: https://lnkd.in/ef8h8fgx 🌊⚡ #OffshoreWind #RenewableEnergy #AxessTechnologies #Collaboration #SustainableFuture

Corporate Power Purchase Agreements (CPPAs) are becoming increasingly common in the offshore wind sector as more capacity is awarded to developers on a zero-subsidy basis and large companies look to meet corporate sustainability targets. 2024 is already a record year for the volume of offshore wind capacity sold to large energy consuming corporations, with 1.9 GW having been sold in the year to date. Overall, almost 9 GW of offshore wind power has been reported sold via CPPAs to date, with demand for clean energy to power chemical production facilities and data centres particularly firm. See our new Offshore Wind Power Purchase Agreement database on Renewables Intelligence Network (www.clarksons.net/rin) for further data and intelligence on this increasingly prominent trend. #RenewableEnergy #OffshoreWind #PPA

F4OR applications open 👀 UK businesses targeting entry or expansion in the burgeoning offshore renewable energy sector can apply for the national Fit For Offshore Renewables (F4OR) programme. Companies completing past F4OR programmes have experienced an average 28% increase in turnover with many securing new contracts. #offshorewind #owgp #programme #applicationsopen #OSW

Big offshore M&A deal to start the day in the US. Dominion Energy has agreed to sell a 50% stake in its 2.6GW Coastal Virginia offshore wind farm in US waters to Stonepeak for $3bn. The project is due to complete in 2026. Rob Kupchak, senior managing director at Stonepeak, said the company was keen to extend its relationship with Dominion. He explained: "Dominion Energy’s impressive track record building and operating large-scale infrastructure projects paired with Stonepeak’s experience successfully constructing offshore wind assets gives us confidence in CVOW’s path forward, and we are excited to partner with Dominion in delivering this critical renewable energy generation resource to its customers." After the discussion last week about Eversource Energy exiting two projects off the US east coast, this must be a positive for US offshore wind. 🇺🇸 https://lnkd.in/eqBYwW2a #offshorewind #unitedstates

💡 We can learn a lot from offshore wind energy. It is a dynamic world that is constantly evolving and innovating to contribute to a sustainable and green future. ➡️ BOP therefore believes it is important to work together locally and internationally on ways to train professionals already working in the sector and to encourage future generations to work in the offshore wind energy sector. ✒️ In the context of the T-shore project (Technical Skills For Harmonized Offshore Renewable Energy) in which POM West-Vlaanderen and Syntra West are the Belgian partners, BOP has signed a memorandum of understanding in which we provide support in education, research and development for the offshore wind energy sector. 🌊 Discover all aspects of the T-shore project. (Link in comments) #offshorewindenergyinBelgium #offshorewindenergy

The ASP International team has kicked off a pilot offshore renewables campaign in the USA, combining our global expertise with local resources to execute the IA cable installation for the Revolution Wind Farm. Our goal is to achieve zero incidents and defects throughout the project. With the first cable already successfully pulled in and the tower handed over according to client-specific requirements, we are confident that our experience and commitment to our long-standing client will set a high standard for future projects in this region as the construction of the USA offshore wind market continues to expand. 💪 🇺🇸 💚 ASP International Limited is a global turnkey rope access service provider to the Renewables, Oil and Gas, Construction, and Marine sectors. Visit our website to view our comprehensive list of capabilities: https://lnkd.in/dJHxD-qz __ #OffshoreRenewables #WindEnergy #RenewableEnergy #SustainableEnergy #RevolutionWindFarm #CableInstallation #EnergyTransition #ZeroDefects #SafetyFirst #EnergyInnovation #GlobalExpertise #CleanEnergy #OffshoreWind #USAOffshoreWind #RenewablesLeadership #GreenEnergy #LocalContent #Sustainability #EnergyFuture #WindPower