Octopus Renewables Infrastructure Trust (ORIT), a UK-based renewable investment firm, has agreed to acquire a 7.75 per cent stake in the Lincs offshore wind farm. Lincs, with a capacity of 270MW, is located offshore from England’s east coast and has been operational since 2013. The offshore wind facility, which spans 35 km sq, is equipped with 75 wind turbines, each with a 3.6MW capacity.
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Envision Energy, a Chinese provider of wind turbines and energy management software, has received a 2,000 MW wind turbine order in India. As per the company’s statement, all 596 wind turbines will be manufactured in Envision’s India factory and will be delivered by the end of 2023.
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SSE Renewables and Brookfield Asset Management, a Canadian investment business, have joined forces to bid for the Hollandse Kust (west) offshore wind farm zone, which is currently under construction in the Netherlands. The Hollandse Kust (west) zones, which are about 53 km from the Dutch coast, are being auctioned for the development of two individual sites, each with a capacity of 700 MW.
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As the offshore wind industry expands to new and early-stage markets in Asia, the labour requirements call for technical and specialised roles across the entire offshore wind supply chain. Often, those roles are not being fulfilled locally and require transfer of knowledge or experience from more experienced companies, like those in Singapore.
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South Korea’s wind and solar output far below corporate needs. South Korea’s top 11 exporters consume 4.5 times more electricity than generated by wind and solar in 2020. South Korea’s biggest companies could lose a key competitive edge over the next decade, as they struggle to secure critical supplies of domestic renewable energy, without a significant boost from the incoming Yoon administration.
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The German Federal Maritime and Hydrographic Agency (BSH) has granted Iberdrola, a Spanish electric utility company, approval to build Baltic Eagle, the Baltic Sea’s largest offshore wind farm. With a capacity of 476 MW, Baltic Eagle will be able to generate enough clean energy to power 475,000 homes while avoiding over 800,000t of carbon emissions each year. By the end of 2024, the wind farm should be operational.
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Ventient Energy, a UK-based renewable energy company, has completed the acquisition of a clean energy portfolio in Spain totalling 443 MW. Regulatory officials authorised the merger in April 2022 after it was first announced in December 2021. The portfolio includes 203 MW of onshore wind and 240 MW of solar capacity, and it is located in the Spanish province of Castilla y Leon.
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The National Institute of Wind Energy (NIWE) of India and ORE Catapult of the UK have signed a joint declaration of intent under which the two wind energy organisations of their respective countries will establish a five-year collaboration programme for the development of wind energy, particularly offshore wind. India currently has no offshore wind facilities, and plans to start development in this space by 2024-25 are also well behind schedule.
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This roadmap provides strategic analysis of the offshore wind development potential in the Philippines, considering the opportunities and challenges under different, hypothetical growth scenarios. The goal is to provide evidence to support the Government of the Philippines in establishing policy, regulations, processes, and infrastructure to enable successful growth of this new industry.
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Enel Generación Chile has signed a power purchase agreement with Atlas Renewable Energy to develop the latter’s first wind energy project. The three wind farms, which have a total capacity of 417 MW, can create 1.3 TWh of renewable energy annually and contribute to the country’s goal of accelerating its clean energy transition.
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RWE, a German energy company, has selected Port of Thorsminde to conduct the operation and maintenance (O&M) on its Thor offshore wind farm. Under the agreement, RWE has signed a letter of intent with the Port of Thorsminde to use the port for the next 30 years. RWE stated that the port provides the shortest sea and air approaches to the Thor offshore wind farm.
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Iberdrola has acquired the rights to Mount James wind farm in Queensland, Australia. The wind energy project covers more than 50,000 hectares of land and has completed its environmental studies. Reportedly, Mount James, in North Queensland, is said to be the world’s largest onshore wind farm, with a capacity of 1 GW.
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The global wind turbine operations and maintenance market is expected to reach $27.6 billion by 2027 from $17.9 billion in 2020 growing at a CAGR of 6.4 per cent over the period, according to Research and Markets. The onshore wind turbine O&M market, one of the segments analyzed in the report, is projected to record a CAGR of 4.7 per cent and reach $22.3 billion by the end of the analysis period.
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Europe is taking comprehensive steps to deliver on its commitment to become climate neutral by 2050 as set out in the European Green Deal. For this, the European Commission (EC) proposes an EU strategy to make offshore renewable energy a core component of the continent’s energy system by 2050. In November 2020, the EC presented to the European Parliament its offshore renewable energy strategy titled ‘An EU Strategy to harness the potential of offshore renewable energy for a climate neutral future’.
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EDF Renewables and its partner, Windvision have announced that they have secured a 226MW project in France’s latest auction for onshore wind projects. The wind farm known as the ‘ Mont des Quatre Faux project’ will be located near Rethel, in the Ardennes department of France’s Grand Est region. It will be spread across seven municipalities and will be built at an estimated cost of Euro 250 million. Once running, the project will be equipped to fuel the power needs of around 250,000 people.
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Macquarie Infrastructure and Real Assets (“MIRA”) has raised more than €1.6 billion for investment in renewable energy against its initial minimum fundraising target of €1 billion. The company has reached the final closure of its 25-year closed-end fund, Macquarie Green Investment Group Renewable Energy Fund 2 (“MGREF2”). MGREF2 will invest in a diversified portfolio of operational and under construction solar and wind power projects as well as clean energy platforms.
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bp and Energie Baden-Wuerttemberg AG (EnBW) of Germany have together emerged as the preferred bidder for two major leases in the UK Offshore Wind Round 4. Both these leases are located in the Irish Sea and together offer a total potential to generate 3 GW of offshore wind power. This is the first such UK leasing round since 2010 and offers a 60-year lease life.
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A significant part of wind energy in the Netherlands is generated by offshore wind farms at sea. In the coming decades, the number of wind farms will be scaled up in line with current energy transition and sustainability objectives. What happens to these wind turbines when they reach the end of their operational life? What volumes of material are involved? How can we prevent an adverse impact of this dismantling on the environment? What forms of economic activity may result from this removal task?
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The joint venture between Total and the Green Investment Group has secured rights for a seabed lease for offshore wind development off the United Kingdom Coast. The lease is valid for projects that are located off the UK’s East Anglian coast and will have an installed capacity of 1.5 GW. The project was awarded in the fourth round of offshore wind lease auctions by the UK and represents the largest European offshore wind development in the joint venture’s portfolio.
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Iberdrola has signed an agreement with DP Energy acquiring a majority share in its offshore wind projects with a cumulative capacity of 3GW. This marks its entry into the offshore wind market in Ireland. The projects are situated across three groups in the eastern, western and southern coasts of Ireland.
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