(Investing)– The Trump administration on Monday said it suspended leases for five large-scale offshore wind projects that are being built off the U.S. East Coast over concerns they would interfere with military radar systems. The suspension marks the latest blow for offshore wind projects that have faced repeated disruptions under U.S. President Donald Trump, who has said he finds them
CNBC BP plans to sell its U.S. onshore wind energy business, it announced on Monday, saying the assets were not aligned with its growth plans. BP said it will launch the sale process shortly for the wind assets, bp Wind Energy, which has interests in 10 operating onshore wind energy assets across seven U.S. states. “We believe the business is
Nasdaq COPENHAGEN – Orsted ORSTED.CO is expected to trim investment plans and cut dividends on Wednesday as it presents a new strategy but investors are worried that the Danish renewable energy firm may want to raise new capital to stick to its ambitious targets. Once a green investor darling, the world’s biggest offshore wind developer found itself at the centre of
Reuters COPENHAGEN -Orsted, the world’s largest offshore wind farm developer, is ramping up its investment in renewables to $57 billion by 2027, seeking to become a global leader in green energy and fend off growing competition. The Danish firm, which sold its oil and gas business in 2017, has benefited hugely from policies to implement the 2015 Paris Agreement, a
Reuters COPENHAGEN – Shares in offshore wind farm developer Orsted fell sharply in early trading on Wednesday after it said a return to more normal wind speeds this year would hit operating profit. The Danish company on Tuesday lifted its operating profit guidance for 2020, but said it expected a lower figure this year due to reduced wind speeds and
Reuters WASHINGTON – A Houston-based company said on Thursday it will build the first U.S. flagged vessel to install offshore wind projects off the east coast of the United States in preparation for an expected construction boom in the nascent industry. Great Lakes Dredge & Dock Corporation said the vessel for subsea rock installation would comply with the 100-year old
Houston Chronicle A plunge in prices is shaking some of the more marginal players out of the liquefied natural gas market, chilling what until recently was the hottest part of the energy industry. Major utilities from Orsted A/S in Denmark to Iberdrola SA in Spain are exiting the business. Naturgy Energy Group SA has made no secret it isn’t comfortable
CNBC Siemens Gamesa Renewable Energy (SGRE) has been chosen as the preferred turbine supplier for the 2.64 gigawatt (GW) Dominion Energy Virginia Offshore Wind project. The site of the project is 27 miles off the coast of Virginia and covers an area of 112,800 acres. In an announcement Tuesday, Dominion Energy described the scheme as the “largest offshore wind power
