GLOBAL NEWS SERVICE FOR THE FOSSIL AND RENEWABLE ENERGY COMMUNITIES
The Department of Energy (DOE) and the British Embassy in Manila have signed a Letter of Intent (LOI) that sets the framework for deeper technical cooperation on offshore wind and microgrid development.
[Read more…] about DOE, UK formalize offshore wind, microgrid cooperationThe New York State Energy Research and Development Authority announced a $300 million competitive solicitation to support maritime port development projects aimed at strengthening the state’s offshore wind supply chain, even as the broader industry grapples with significant regulatory and financial challenges.
[Read more…] about Preparation New York Ports for offshore windNjordIC has been awarded the UXO Consultancy Services Contract for the Doordewind 1 & 2 Grid Connection System, commissioned by TenneT.
[Read more…] about UXO Consultancy Doordewind Export Cable RoutesSubsea7 announced the award of a contract by LLOG Exploration Offshore, for the Buckskin South Expansion project.
[Read more…] about Subsea7 awarded contract offshore USAccording to multiple well-placed sources familiar with the matter, Tinne Van der Straeten, Belgium’s former federal Minister of Energy, is poised to become the next Chief Executive Officer of WindEurope, the leading European association for the wind energy sector.
[Read more…] about Tinne Van der Straeten tipped as next CEO of WindEuropeHanwha Ocean has been awarded an Engineering, Procurement, and Construction (EPC) contract for the Shinan Ui offshore wind project in South Korea.
[Read more…] about Hanwha Ocean plans to build GustoMSC jack up vesselAccording to Reuters, the Trump administration suspended leases on Monday for five large offshore wind projects under construction off the U.S. East Coast over what it called national security concerns, causing shares of offshore wind companies to plunge.
[Read more…] about US freezes five big offshore wind projectsMaersk has settled a dispute over the cancellation of a $475 million contract for a wind turbine installation vessel that was nearly 99% complete and due to be used for work at Equinor’s Empire Wind project.
Seatrium and the buyer have reached an agreement for Seatrium to deliver the vessel and Maersk to take delivery of the vessel by 28 February 2026.
Upon delivery, Maersk shall pay the balance of the Contract Price being the sum of US$360 million (subject to adjustments in accordance with the Contract).
The parties have mutually agreed for the buyer to pay part of the Contract Price (US$250 million) using an interest-bearing credit arrangement extended to the buyer by Seatrium.
The credit arrangement is for up to 10 years and repayable through cash generated by the vessel. Seatrium will have a mortgage over the vessel, as well as first priority rights over the vessel and the buyer’s bank accounts.
In light of the above, the parties will withdraw and discontinue all legal proceedings (i.e. Maersk’s Arbitration and SEI’s Arbitration), and the contract is in full force and effect.
The matter is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the current financial year ending 31 December 2025.
Collaborative efforts were advanced by the willingness of all parties critical to the Vessel’s operability to be practical, find alignment, and work collectively towards the target of the delivery of the vessel.
Poland’s Energy Regulatory Office (URE) has concluded the country’s first-ever auction for offshore wind power, awarding contracts to three projects with a combined capacity of 3.4 gigawatts (GW).
[Read more…] about Poland allocates 3.4 GW capacity in Offshore Wind AuctionThe UK Secretary of State for Energy Security and Net Zero has granted a Development Consent Order (DCO) for the Five Estuaries offshore wind farm, owned by a consortium led by RWE.
[Read more…] about RWE’s Five Estuaries wind farm granted planning consent
