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Business Developments & Projects

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Global OTEC has launched its storm-resistant floating platform, marking a step in developing ocean thermal energy conversion (OTEC) technology.
Business Developments & Projects

Global OTEC deploys storm-resistant floating platform in Atlantic waters (Video)

Global OTEC has deployed its storm-resistant floating platform, marking a step in developing ocean thermal energy conversion (OTEC) technology. According to Global OTEC, the cylindric hull, named Don and built under the EU-funded PLOTEC project, was launched from Hidramar Shipyards into Atlantic wat

about 1 year ago
Leaders at COP29 Azerbaijan; Source: COP29 Azerbaijan
Business Developments & Projects
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COP29 delivers hat trick with $1.3 trillion on the cards but lack of stronger mitigation and finance action seen as ‘betrayal’

COP29 has managed to reach a consensus on tripling climate finance while setting a new worldwide target to direct $1.3 trillion of climate finance to developing countries by 2030.

16 minutes read
COP29 Azerbaijan; Source: COP29 Presidency
Business Developments & Projects

Carbon markets are a go but trillions at stake: Will ‘climate finance COP’ deliver the goods at the eleventh hour?

Given the trillion-dollar gap between the Global South’s demands and the Global North’s proposal for a new climate finance target, the 29th Conference of the Parties (COP29) has run into overtime in one last attempt at bridging the divide and finding common ground all parties can get behind. The cal

21 minutes read
An aerial view of an LNG complex
Business Developments & Projects

BP okays Indonesian $7 billion project to unlock additional gas for Asia

A consortium led by the United Kingdom’s energy supermajor BP has reached a final investment decision (FID) on a project featuring enhanced gas recovery (EGR) through carbon capture, utilization, and storage (CCUS) in Indonesia.

about 1 year ago
$60 million in contracts to keep Solstad vessels at work for 900 days
Business Developments & Projects

$60 million in contracts to keep Solstad vessels at work for 900 days

Norwegian shipping company Solstad Offshore has secured multiple new contracts and contract extensions that have a combined value of around $60 million and represent around 900 vessel days. The construction support vessel (CSV) Normand Valiant has been awarded a one-and-a-half-year firm contract wit

about 1 year ago
Hydrogen Europe and H2Chile strengthen hydrogen ties
Business Developments & Projects

Hydrogen Europe and H2Chile strengthen hydrogen ties

Hydrogen Europe and the Chilean Hydrogen Association (H2 Chile) agreed to collaborate on advancing hydrogen deployment and trade.

about 1 year ago
Newly developed ROV duo destined for Solstad vessels pass factory acceptance testing
Business Developments & Projects

Newly developed ROV duo destined for Solstad vessels passes factory acceptance testing

Norway’s Omega Subsea and Kystdesign have completed the factory acceptance test (FAT) for two newly developed remotely operated underwater vehicles (ROVs). The collaboration developed the Constructor Compact ROV, said to be a versatile, scaled-down version of Kystdesign’s Constructor model, retainin

about 1 year ago
Seabased has signed a memorandum of understanding (MoU) with the Government of Grenada and SIDS DOCK to establish Grenada’s first utility-scale wave energy park.
Business Developments & Projects

Grenada powers ahead with its first utility-scale wave energy park

Swedish wave energy company Seabased has signed a memorandum of understanding (MoU) with the Government of Grenada and SIDS DOCK to establish Grenada’s first utility-scale wave energy park. Unveiled on November 15 in Baku, the project will kick off with a 2 MW pilot phase, with plans to scale up to

about 1 year ago
Vertom orders four 10,700 dwt diesel-electric MPPs in pink color
Business Developments & Projects

Vertom orders four 10,700 dwt diesel-electric MPPs in pink color

Dutch short sea shipping company Vertom Group has placed an order for four 10,700 dwt geared multipurpose vessels at India’s Chowgule shipyard.

about 1 year ago
'World's largest utility company' enters Greek interconnector
Business Developments & Projects

‘World’s largest utility company’ enters Greece’s largest island interconnector

A wholly owned principal subsidiary of Chinese state-owned electric utility corporation State Grid Corporation of China (SGCC) has purchased a 20% share in a subsidiary owned by Greek transmission system operator (TSO) Independent Power Transmission Operator (IPTO or ADMIE), thereby entering what is

about 1 year ago
FPSO Petrojarl Knarr is expected to work at Equinor's Rosebank field; Source: Altera Infrastructure
Business Developments & Projects

Development moves forward but pending court verdict could spell the end for UK’s giant oil & gas projects

As the climate crisis intensifies, so do legal challenges for hydrocarbon projects, especially in the United Kingdom (UK), where two North Sea operators and climate activists are locked in a court battle with the potential to put the fossil fuel industry out of commission.

about 1 year ago
NKT nearing finish line for its Swedish expansion project
Business Developments & Projects

NKT nearing finish line for its Swedish expansion project

Denmark-headquartered power cable manufacturer and installation firm NKT is nearing completion of its expansion project in Alingsås, Sweden, with access to the test hall and new buildings set for next month. NKT announced it was expanding its operations in Alingsås to boost the production capacity o

about 1 year ago
Brage platform; Source: OKEA
Business Developments & Projects

North Sea oil & gas project named after Odin’s mother from Norse mythology gets the go-ahead

OKEA has received the Norwegian government’s blessing to move forward with its plan for the development and operation (PDO) of an oil and gas field in the North Sea off the coast of Norway, which will be tied back to an existing platform.

about 1 year ago
Liquid Wind secures €44 million to speed up develpment of e-fuel plants
Business Developments & Projects

Liquid Wind secures €44 million to speed up develpment of e-fuel plants

Swedish e-fuel plant developer Liquid Wind has secured €44 million in Series C financing to support the development of ten e-fuel facilities by 2027. The raise, which is said to be one of the largest funding rounds in Europe for e-fuels this year, was led by Uniper, HYCAP Fund I SCSp, and Samsung Ve

about 1 year ago