For the purpose of acquiring 1 GW of solar and wind energy, Entergy Arkansas, a utility in the US, has issued a request for proposals. Renewable energy would be purchased through one or more power purchase agreements that would be in operation between May 2025 and December 2026, as well as self-build alternatives and one or more build-own-transfer agreements.
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The Yeonggwang Project, a 1.2 GW floating wind project off the south-west coast of South Korea, has been the subject of a sale and purchase agreement signed by offshore wind developer Hexicon Korea. According to the agreement, Hexicon Korea will sell its 40 per cent stake in the project to an undisclosed buyer, who will then become the project’s 100 per cent owner and take over its financial management moving forward.
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A 525 MW portfolio of renewable energy projects in Croatia will be purchased and jointly developed by Israel-based Enlight Renewable Energy for an undisclosed amount. The portfolio of renewable projects consists of a 139 MW wind project and four solar projects with a cumulative capacity of 386 MW. The projects are currently in various stages of development, and it is anticipated that construction work will start at the end of 2023 and run until 2025.
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Siemens Financial Services has sold its remaining 20 per cent ownership in the 402 MW Veja Mate offshore wind farm in Germany to engineering consulting firm KGAL, Commerz Real, and Ingka Group. No financial details have been disclosed. According to KGAL, the investment is a part of the KGAL ESPF IV fund for renewable energy.
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RWE, a German energy company and Hellenic Petroleum Holdings, a Greece-based oil firm have agreed to jointly explore offshore wind opportunities in Greece. Through their respective subsidiaries, RWE Renewables and HELPE Renewables, the companies collaborated to develop, construct, and operate wind farms off the coast of Greece. The partnership comes as Greece plans to have 2 GW of operational offshore wind capacity by 2030.
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Plenitude (Eni) and HitecVision have signed an agreement to expand their Norwegian renewable energy joint venture (JV), Vårgrønn. Vårgrønn will be transformed into a tangible, full-cycle offshore wind player by the partners. The JV intends to have a total installed and sanctioned offshore wind capacity of 5GW by 2030, with a primary focus on markets in Northern Europe.
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wpd offshore Australia Holding, part of Germany’s wpd Group has signed a joint venture (JV) with Australis Energy to construct three offshore wind energy projects off the coast of Australia. The three offshore wind projects will be constructed in the coastal waters of Victoria, South Australia, and Western Australia, and will have a combined capacity of 1.4 GW.
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Since the ambitious 30 GW by 2023 offshore wind target was released by the Biden–Harris Administration, there has been a noticeably positive attitude towards pushing the rollout of offshore wind on the political agenda. Although no new offshore wind turbines were installed in the US in 2022, the US offshore wind market continues to gain strong momentum in both state and federal waters.
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Vestas, Danish wind turbine manufacturer, has announced the sale of its 183 MW Delta wind project in Mississippi, US, to the AES Corporation. No financial details have been disclosed. Vestas’ North American development arm, Steelhead Americas, is working on the Delta project. Reportedly , it would be the first wind project in Mississippi and would be situated at a higher altitude to access stronger wind speeds.
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In order to construct offshore wind projects in South Korea, Norwegian offshore project developer Deep Wind Offshore (DWO) has joined forces with the nation’s state-owned energy company East West Power (EWP). DWO and EWP will concentrate on creating four floating and bottom-fixed projects far off the nation’s coast as part of their agreement. Together, these projects will have a capacity of more than 4 GW.
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Hitachi Energy and Petrofac have joined forces to provide grid integration and associated infrastructure services for the offshore wind sector. The two companies will provide services to the market, with an emphasis on high-voltage direct current (HVDC) and high-voltage alternating current (HVAC) solutions.
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On June 23, the White House joined with eleven governors from up and down the East Coast to launch a new Federal-State Offshore Wind Implementation Partnership that will accelerate the growing offshore wind industry. The partnership will support efforts to provide Americans with cleaner and cheaper energy, create good-paying jobs, and make historic investments in new American energy supply chains, manufacturing, shipbuilding, and servicing.
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RWE, a German energy company, has signed an agreement with Siemens Gamesa to deliver offshore wind turbines for its FEW Baltic II offshore wind project in Poland. Siemens Gamesa will deliver 25 SG 14-236 DD wind turbines for the 350 MW project. A service agreement is also included with the order. Construction on the site is expected to start as early as 2024, depending on the final investment decision.
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Siemens Gamesa, a Spanish energy company, and Doosan Group subsidiary Doosan Enerbility have agreed to explore potential offshore wind power cooperation in South Korea. In Copenhagen, Denmark, the two companies signed a non-binding MoU to assess the scope of collaboration on large-scale offshore wind turbines, including installation, maintenance, and supply of turbine parts. They will also explore the sharing of services for the construction of production facilities in South Korea.
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In order to construct offshore wind projects by 2025, Ocean Winds, a joint venture (JV) company between EDP and Engie, has made the decision to invest €3 billion. Engie and EDP have each agreed to invest €1.5 billion in the development of the project. Additional funding for the projects will be obtained through debt and financing from external partners.
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TenneT, the Dutch transmission system operator, intends to develop a $31.5 billion tender plan and contract partners for the construction of land and sea connections for 40 GW of offshore wind capacity in the German and Dutch North Sea. TenneT will be responsible for at least two-thirds of this target, connecting 20 GW of capacity in each of the German and Dutch North Seas.
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Corio Generation, an offshore wind company, has signed a joint development agreement with FECON, a Vietnamese construction firm, for a 500 MW offshore wind project in Vietnam’s Ba Ria-Vung Tau province. The proposed fixed-bottom plant, which would be located between 23-35 km off the coast, is expected to be one of the country’s first large-scale offshore wind projects.
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Siemens Gamesa, a Spanish energy company, has been awarded a contract to supply 60 wind turbine units for the 882 MW Moray West offshore wind power project in Scotland. According to the agreement, the company will deliver its SG 14-222 DD offshore wind turbines, each having a capacity of 14.7MW. Each SG 14-222 DD turbine will have a 222 metre rotor diameter and use Siemens Gamesa’s 108 metre-long IntegralBlades.
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In November 2020, the European Commission presented an EU-wide strategy for offshore wind. The strategy includes both the Commission’s vision and targets for offshore wind in Europe, as well as non- binding guidance for European member states on how to reach their individual national goals and contribute to achieving the EU ́s overarching targets for the uptake of offshore wind. The strategy defines a non-binding volume target of 300 GW by 2050, with a subtarget of 60 GW by 2030 for the whole of the EU.
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ACWA Power, a Saudi energy company, and Hassan Allam Holdings, an Egyptian engineering firm, have signed a project agreement to develop a 1.1 GW wind project. The wind project will be constructed in Egypt’s Gulf of Suez and Gabal el Zeit region and will cost $1.5 billion. The project is scheduled to be financially closed by the third quarter of 2024 and operational by the end of 2026.
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