Vattenfall, a Swedish energy company, has agreed to purchase an 85 per cent stake in two offshore wind farms in Gothenburg, Sweden, from Zephyr, a wind power company. The Vidar and Poseidon wind facilities will be constructed between 25 and 27 km north of Gothenburg, on the Swedish west coast.
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Equinor has begun a study with partners in the Troll and Oseberg fields to determine the feasibility of a 1 GW floating offshore wind farm in Norway. TotalEnergies, Shell, and ConocoPhillips, Equinor’s partners, plan to create the Trollvind floating offshore plant in the Troll area, which is located about 65 km west of Bergen.
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Equinor and Technip Energies, a French energy company, have decided to collaborate on the development of floating wind steel semi-substructures. The partnership intends to speed up the development of technology for floating offshore wind projects while also reducing costs and expanding local value prospects.
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Renewable Power Capital (RPC), a UK-based energy investment firm, has signed a grid connection agreement with E.ON Energy Distribution for four wind farms in Sweden’s Sollefte and Kramfors municipalities. The agreement would deliver up to 561 MW of clean energy to regional and national systems from four wind facilities.
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Nordex Group, a German wind turbine manufacturer, has secured a 105 MW turbine supply order for the Krivaca wind farm in Serbia. The Krivaca wind project is located in the municipalities of Golubac, Kucevo, and Veliko Gradiste in eastern Serbia. It will have the capacity to generate 310 GWh of clean energy per year, which is approximately 1 per cent of the country’s total power consumption.
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Corio Generation, an offshore wind developer, has announced plans to develop five offshore wind farms in Brazil with a total capacity of more than 5 GW. The five fixed-bottom offshore wind projects were constructed in partnership with Servtec Energia, a Brazilian power generation company. Corio plans to build the Guarita and Cassino offshore wind farms, both of which will have more than 1.2 GW of capacity, off the coast of Brazil.
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Corio Generation, a Macquarie Green Investment Group portfolio company, plans to develop a 2.5GW wind farm off the coast of Victoria, Australia. The Great Eastern Offshore Wind Facility will be built 22 km off the Wellington Shire in Gippsland, Victoria. The project is expected to generate enough clean energy to power around 1.6 million homes.
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Equinor and BP have collaborated to launch an offshore wind innovation hub in New York, with the aim of facilitating partnerships with start-ups. The programme is the product of a three-year collaboration between the NY Tandon School of Engineering’s Urban Future Lab (UFL), Equinor, and the National Offshore Wind R&D Consortium, which is sponsored by the New York City Economic Development Corporation.
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Innergex Renewable Energy, based in Canada, has completed the $685.6 million acquisition of Aela Generación and Aela Energa, together known as Aela. Aela was founded in 2013 by a joint venture between Mainstream Renewable Power, a global renewable energy project developer, and Actis, a global sustainable infrastructure investor.
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Governments in South Asia have been committing more towards renewable energy in their national policy targets, but further efforts are required to develop the enabling policies, institutions and market to attract more investments. Covid-19 stimulus packages for the energy sector should not only be centred around clean energy but also be accompanied by market mechanisms that would incentivise investors and unpack the technological potential of integrating more renewable energy into the grid.
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Vestas, a Danish wind turbine maker, has signed an agreement to supply wind turbines to EnBW for the 900 MW He Dreiht offshore project in Germany on a conditional basis. The agreement was reached after EnBW pre-selected Vestas to supply the offshore wind turbines for the project through an EU tender process in July 2021.
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Wallenstam, a Swedish property company, has announced the sale of three wind farms in Sweden to Jämtkraft, a Swedish energy company, for an undisclosed sum. Wallenstam stated that the sale is part of its strategy to restructure its wind energy portfolio.
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Cbus Super, an Australian superannuation fund, has acquired a 10 per cent stake in Copenhagen Infrastructure Partners’ (CIP) 2.2 GW Star of the South offshore wind project. This follows Cbus’ investment in CIP’s flagship fund, CI IV, which owns the majority stake in Star of the South. No financial details of the deal have been disclosed. Star of the South will be constructed off the coast of Victoria’s Gippsland.
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Renewable Power Capital (RPC), a UK-based energy investment group, has agreed to acquire four ready-to-build onshore wind projects in Sweden with a total capacity of 528 MW. The $856 million deal includes acquisition costs as well as the funds required to build the projects. The four projects, which are in the municipalities of Kramfors and Sollefte in Sweden, are expected to begin exporting power to the country’s national grid in 2025.
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NREL released a report outlining supply chain needs required to reach the United States’ national offshore wind goal of 30 gigawatts by 2030. With international offshore wind supply chains already near capacity, there is an immediate need to develop a domestic network to scale up this industry. This report estimates achieving 30 GW of offshore wind capacity will require at least 2,100 wind turbines and foundations and 6,800 miles of cable.
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Siemens Gamesa has announced that it will supply the Serbian state utility EPS with a 66 MW wind power project. Siemens Gamesa will supply 20 SG 3.3-132 turbines to the Kostolac wind project in Serbia, which will be the company’s first in the country. They will be fully installed in 2024. These turbines have a rated power of up to 3.65 MW.
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Europe’s wind energy sector is entering uncharted territory as inflation rears its head for the first time in two decades. The new environment is prompting companies to look more closely at portfolio management. Meanwhile, a trend to lock in long-tenor original equipment manufacturer (OEM) operations and maintenance (O&M) service agreements, to mirror the project finance tenor, may be leaving value on the table for the sake of minimising the downside risk for banks.
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CS Energy, an Australian electricity company, has signed a MoU with EDF Renewables for the construction of the 230 MW Banana Range Wind Farm in Central Queensland. The Banana Range Wind Farm, which will be in the Biloela region, will be able to generate enough clean energy to power 15,000 homes. During the construction phase, the project is planned to provide 150 jobs. Construction on the site is set to begin in 2024, with the project slated to be completed in 2026.
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BluEarth Renewables US, a renewable energy company, has purchased a 1 GW wind and solar development project in Colorado from NorthRenew Energy for an undisclosed sum. The Eads Wind and Solar Project is located in Kiowa and Cheyenne Counties and is expected to be completed in multiple phases.
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Germany, Belgium, the Netherlands, and Denmark inked an agreement in Esbjerg to produce 65 GW of offshore wind energy and 150 GW of green hydrogen by 2030 and 2050, respectively. Declaring their intention to become Europe’s Green Power Plant, the joint accord intends to tenfold the region’s offshore wind power capacity, with total private sector investments expected to reach €135 billion.
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