Business Developments & Projects
Nexans, TenneT get things rolling on BalWin3 and LanWin4 offshore grid connections
TenneT and Nexans, which signed framework agreements for three offshore grid connections last year, have now signed a call-off contract for the BalWin3 and LanWin3 projects, each of which will have a capacity of 2 GW and will link offshore wind farms to the German grid. In May 2023, TenneT awarded N
Fossil fuels’ 75% methane cuts by 2030 come with $170 billion price tag
A new IEA analysis emphasizes the need for more action to bring forth the required emission reductions by 2030.
Candela secures €24.5M to scale up production of fast electric ferry
Candela, a Swedish maker of sustainable, electric hydrofoil vessels, has closed the largest funding round in the company’s history, to expand production of its P-12 ferry.
ABEL Energy partners with Townsville port for new green methanol plant and bunkering facilities
ABEL Energy is looking to speed up the potential construction of a methanol production plant through cooperation with the Port of Townsville.
DNV and Moss Maritime team up to propel floating solar technology in harsh marine environment
DNV has cooperated with offshore design and engineering services provider, Moss Maritime, to increase the deployment of floating solar technology in severe environmental conditions. DNV has issued a Statement of Conformity to Moss Maritime for the design methodology of XolarSurf, a floating solar c
Oil & gas infrastructure in six North Sea countries hit by ‘unprecedented’ blockades
Activists have embarked on a wave of new climate action by setting up blockades to certain fossil fuel infrastructure in six North Sea countries.
OneSubsea’s equipment to back landmark gas field offshore Philippines
OneSubsea, a joint venture backed by SLB, Aker Solutions and Subsea7, has secured a contract with a company in the Philippines to deliver subsea equipment for an offshore gas field. Under the contract signed with Prime Energy Resources Development, OneSubsea will deliver wellheads, Christmas trees (
ExxonMobil: Europe needs policy change not deindustrialization to be ‘attractive’ decarbonization playground
The president of ExxonMobil’s European arm is adamant that Europe needs industry to deliver the right set of climate tools and solutions.
TECO 2030 onboard compressed hydrogen fuel systems get DNV’s blessing
TECO 2030 has won an additional approval in principle (AiP) from classification society DNV for its compressed hydrogen fuel systems.
Hydrogen fuel cell, battery-enabled Hyflex could replace fossil fuel solutions, tests confirm
Several project partners have conducted a joint field test to demonstrate the latest innovation in hydrogen-electric power infrastructure — a containerized hydrogen fuel cell and battery solution.
Italy’s Saipem and Fincantieri jointly pursuing subsea robotics
Italian oilfield services company Saipem and compatriot shipbuilding giant Fincantieri have signed a Memorandum of Understanding (MoU) with the aim of evaluating opportunities for cooperation in subsea robotics for surveillance and control of critical underwater infrastructure. With the MoU, signed
UK engineering start-up gets financial boost for new wind propulsion system
UK-based maritime engineering start-up WingTek, in collaboration with the University of Bristol and the National Composites Centre, has won a £2.2 million ($2.7 million) innovation grant for the development of a new wind auxiliary propulsion (WAP) system.
Minesto sees slight decline in operating income, widens operating loss
Swedish tidal energy developer Minesto has reported a total operating income of almost SEK 45.6 million (around €4 million) for the 2023 financial year, a slight decline from SEK 45.7 million in 2022. Minesto’s operating loss was almost SEK 28.7 million, as opposed to SEK 23.7 million reported for 2
Lhyfe secures €149 million grant for green hydrogen plant near Le Havre
Lhyfe will receive financial support from the French government to build a 100 MW green hydrogen production plant near Le Havre.