Wind Archives - Page 4 of 15 -

Shell sells interest in U.S. offshore wind joint venture as company refocuses on oil and gas

March 25, 2024

World Oil (WO) – Shell New Energies US LLC has sold its 50% equity share in SouthCoast Wind Energy LLC to joint venture partner Ocean Winds North America LLC. SouthCoast Wind is a 50-50 joint venture between Shell and Ocean Winds, established to develop offshore wind projects off the coast of Massachusetts. “In-line with our Powering Progress strategy, Shell continues

PREVIEW-Orsted’s strategic shake-up has investors worried

February 2, 2024

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

Argentine oil company YPF privatization scrapped from reform bill- oil and gas 360

Petrobras to start expanding into wind and solar this year

January 23, 2024

Oil Price Brazil’s state oil major Petrobras is this year set to go on a shopping spree in wind and solar, its chief executive told Reuters this week. The company aims to build a portfolio of stakes in wind and solar projects to the tune of 2 GW, Jean Paul Prates told the news outlet in an interview. “The market will see

Infrastructure investors plan $163 billion energy islands

January 19, 2024

Oil Price Denmark-based Copenhagen Infrastructure Partners (CIP), a major investor in offshore wind, said on Friday it is launching a new company to develop energy islands globally, with investments estimated at around $163 billion (150 billion euros). CIP is launching Copenhagen Energy Islands (CEI), which is currently developing a portfolio of around 10 energy island projects around the North Sea, the Baltic Sea, and

Enbridge eyes France for offshore wind investments and will avoid US

January 11, 2024

Nasdaq WINNIPEG, Canada – Canadian pipeline company Enbridge ENB.TO is keen on further offshore wind investments in France, but will avoid the United States, where cost and supply chain problems have contributed to offshore projects collapsing, a senior executive said. Rising costs have led to canceled projects in the U.S. and Britain while putting others at risk. The setbacks for offshore wind

U.S. offshore wind sector ‘fundamentally broken’ – BP exec

November 1, 2023

Oil Price The U.S. offshore wind industry is “fundamentally broken” and needs a reset, a clean energy executive at supermajor BP said at the FT Energy Transition summit on Wednesday. But the regulatory and permitting environment for the industry can be fixed, Anja-Isabel Dotzenrath, head of Gas and Low Carbon Energy at BP, said on the conference, as carried by Reuters. Currently,

Challenges escalate for the wind energy industry

October 2, 2023

Oil Price Europe and the United States risk missing their ambitious wind power installation targets as soaring costs, supply chain delays, and low electricity prices at auctions hamper development and lead to a cancelation of offshore wind projects. Government targets were very ambitious even before the perfect storm in the wind power industry this year. Now, those targets could be

Biden’s offshore wind target slipping out of reach as projects struggle

September 15, 2023

Nasdaq President Joe Biden’s goal to deploy 30,000 megawatts of offshore wind along U.S. coastlines this decade to fight climate change may be unattainable due to soaring costs and supply chain delays, according to forecasters and industry insiders. The 2030 target, unveiled shortly after Biden took office, is central to Biden’s broader plan to decarbonize the U.S. economy by 2050. It

Siemens Energy reviews wind business after earnings hit

August 7, 2023

Oil Price Siemens Energy has initiated a review of its wind business after taking a large hit to earnings and expected full-year revenues and profits due to problems at its unit Siemens Gamesa, one of the largest wind turbine makers in the world. “Our third-quarter results demonstrate the challenges in turning around Siemens Gamesa,” Christian Bruch, President and CEO

Biden administration to hold first offshore wind lease sale in Gulf of Mexico

July 20, 2023

World Oil (WO) — The Department of the Interior will hold the first-ever offshore wind energy lease sale in the Gulf of Mexico, advancing the Biden-Harris administration’s work to deploy 30 gigawatts (GW) of offshore wind energy by 2030. The areas to be auctioned on August 29, 2023, by the Bureau of Ocean Energy Management have the potential to generate

Investor confidence crisis grips Siemens Energy after record sell-off

June 23, 2023

Nasdaq FRANKFURT – A record sell-off in Siemens Energy ENR1n.DE shares has laid bare a major loss of confidence by investors in the group’s ability to fix its struggling wind turbine division, leaving them fearful of what else to expect down the road. Siemens Energy’s stock plunged by a third on Friday, knocking more than 6 billion euros ($6.5 billion) off the group’s

Tax incentives to supercharge U.S. clean energy transition

June 19, 2023

Oil Price The U.S. Administration this week issued a much-anticipated guidance on tax credits in the Inflation Reduction Act (IRA), giving access to tax credits to local governments and non-profits to join the clean energy transition. The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have released guidance on key provisions in the IRA to expand the reach of

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