In Short : Three New England states have reached an agreement to jointly procure 6 gigawatts (GW) of offshore wind energy. This collaboration signifies a significant stride towards increasing renewable energy capacity in the region. By harnessing the power of offshore wind, these states are not only diversifying their energy sources but also reducing carbon […]
Offshore Wind Power in India Is the grass really greener away from the shores? – EQ Mag
Global Scenario : The history of offshore wind energy is slightly more than three decades old during this period it has grown at a CAGR of over 30%. As far as future growth is concerned the expected CAGR according to various estimates available ranges between 12% to 16% for next one decade. Up till 2022 […]
Finland to launch 6GW of offshore tenders – EQ Mag
Two projects are planned to be auctioned in September-October this year and two more next year Finland will launch five competitive tendering processes for more than 6GW of offshore wind power along its western coast. Zoning initiatives for the first five have been initiated by Metsähallitus, responsible for managing and developing state-owned areas within the […]
Philippines agrees 2 GW offshore wind power with Danish investment fund – EQ Mag
The Philippines’ Department of Energy said on Thursday it had signed three contracts with a Danish fund manager for offshore wind energy development projects with a total capacity of 2,000 megawatts. There will be a 25-year operating period for the service contracts with Copenhagen Infrastructure New Markets Fund (CINMF), which is the first foreign firm […]
Vietnam’s offshore wind power potential – EQ Mag
Japan’s Nikkei Asia newspaper today published an analysis highlighting how “Vietnam’s offshore wind power is attracting an influx of foreign investment.” According to that article, Japanese and European companies are making big moves in Vietnam’s offshore wind sector to take advantage of the South East Asian country’s renewable energy momentum. In September 2022, the Japanese […]
Poland: TotalEnergies and KGHM Join Forces to Develop Offshore Wind Power – EQ Mag Pro
Paris : TotalEnergies and KGHM signed a partnership to participate on a 50/50 basis in the Polish government tender for the development of offshore wind projects. The government has launched a new auction scheme covering 11 areas in the Polish Baltic Sea, representing an expected total capacity of over 10 GW, in order to leverage […]
Vietnam Aims For 21 GW of Offshore Wind Power By 2045 – EQ Mag Pro
Vietnam has set a goal of reaching 30 gigawatts (GW) to 50GW of offshore wind power generating capacity by 2030 and 21GW by 2045. It will establish an offshore wind power purchase mechanism to stimulate the market in a bid to overcome a lack of regulation and technical standards for the production, installation, operation, and […]
Japan plans to install up to 45 GW of offshore wind power by 2040
TOKYO: Japan plans to install as much as 45 gigawatts (GW) of offshore wind power by 2040, the country’s industry ministry said on Wednesday as the government aims to reduce emissions and meet a target to achieve carbon neutrality by 2050. The plans, if followed through on, would make Japan a global leader in offshore […]
Offshore wind firm Orsted beats third-quarter expectations
The world’s largest offshore wind farm developer kept its full-year guidance for earnings before interest, tax, depreciation and amortisation (EBITDA) of 16-17 billion Danish crowns ($2.5-$2.7 billion) COPENHAGEN: Danish energy group Orsted beat third-quarter profit expectations on Wednesday, but said offshore wind projects in the United States faced “significant” delays. The world’s largest offshore wind […]
Offshore Wind-Power Prices Are Plunging
The cost of offshore wind in the U.K. could soon drop below the level where renewable developers get compensated to add capacity in the latest round of an auction that has subsidized the industry. Developers have submitted proposals in the so-called “contracts-for-difference” auction to win fixed prices for power produced from green sources. The result […]