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Business & Finance

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UK's 2 GW subsea electricity superhighway first to progress through Ofgem's fast-track process
Business & Finance

2 GW subsea electricity superhighway first to progress through Ofgem’s fast-track process

UK energy market regulator Ofgem has selected a 2 GW high-voltage direct current (HVDC) subsea cable as the first project to proceed under the new fast-track process and to receive a provisional £2 billion funding package. Eastern Green Link 1 (EGL1) is being developed by National Grid Electricity T

about 2 years ago
RWE’s plans for green hydrogen production in Teesside gain ground
Business & Finance
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RWE’s plans for green hydrogen production in Teesside gain ground

RWE is advancing plans for Teesside green hydrogen plant with the acquisition of a land option at Wilton International.

about 2 years ago
Swedish bearing and seal manufacturing company SKF has taken part in the Board of Ocean Energy Europe, a network of ocean energy professionals, as a Lead Partner
Business & Finance

SKF joins Ocean Energy Europe as lead partner

Swedish bearing and seal manufacturing company SKF has taken part in the Board of Ocean Energy Europe, a network of ocean energy professionals, as a Lead Partner. Michael Baumann, Global Application Account Manager Ocean Energy, will be representing SKF on the board. “OEE is the largest global ne

about 2 years ago
Illustration; Source: Asco
Business & Finance

Multi-million trifecta brings more work to UK firm with BP, TotalEnergies, and Centrica

Asco has pulled off a hat trick of new contract extensions, worth over £20 million (nearly $25.6 million), with three energy players.

about 2 years ago
Seven firms from north Scotland and Orkney have been chosen for the first Fit For Offshore Renewables (F4OR) program in the region
Business & Finance

Seven firms set for ORE Catapult-led Fit for Offshore Renewables program

Seven firms from north Scotland and Orkney have been chosen for the first Fit For Offshore Renewables (F4OR) program in the region. The F4OR supply chain growth program, led by the Offshore Renewable Energy (ORE) Catapult, takes the companies 12-18 months to complete. The seven companies that were s

about 2 years ago
EU and Faroe Islands strengthen ties on green transition and climate change
Business & Finance

EU and Faroe Islands strengthen ties on green transition and climate change

The Faroe Islands, a self-governing country within the Kingdom of Denmark, and the European Union have signed a Memorandum of Understanding (MoU) to, among other things, work together on the green transition, energy and climate change. Faroese Prime Minister Aksel V. Johannesen and EU Commission Pre

about 2 years ago
Liquid Wind to fuel Wasaline’s Aurora Botnia with eMethanol from FlagshipTHREE plant
Business & Finance

Liquid Wind to fuel Wasaline’s Aurora Botnia with eMethanol from FlagshipTHREE plant

Electrofuel (eFuel) developer Liquid Wind has signed a letter of intent (LoI) with energy firm Umeå Energi and shipping company Wasaline for the sale and purchase of eMethanol from the eFuel facility in Umeå, Sweden.

about 2 years ago
Reach Subsea expands subsea service capacity due to 'substantial tender pipeline'
Business & Finance

Reach Subsea expands subsea service capacity due to ‘substantial tender pipeline’

Shortly after securing a 100-day project charter for the subsea vessel, Norway-headquartered Reach Subsea has extended the charter for Olympic Taurus due to a “solid backlog and substantial tender pipeline for the coming periods”. In mid-February, Reach Subsea announced a 100-day project charter for

about 2 years ago
FPSO for the BM-C-33 project; Source: MODEC
Business & Finance

‘Major’ deal for MODEC’s Brazil-bound FPSO lands on MAN’s order book

MAN Energy Solutions Switzerland has secured its largest single order ever received, thanks to a deal with MODEC.

about 2 years ago
Denmark-based power cable manufacturer and installation company NKT has supplied its first order of adaptive power cable joints, which can serve as a spare joint for a broad range of HVAC offshore cab
Business & Finance

NKT delivers first order of adaptive power cable joints to Energinet

Denmark-based power cable manufacturer and installation company NKT has supplied its first order of adaptive power cable joints, which can serve as a spare joint for a broad range of HVAC offshore cables, to the Danish transmission system operator (TSO) Energinet. According to NKT, the Adaptive Rigi

about 2 years ago
Deepsea Nordkapp rig; Source: Odfjell Drilling
Business & Finance

Aker BP getting ready to spud North Sea pair with Odfjell rig

Aker BP has received consent to use one of Odfjell Drilling’s semi-submersible rigs for exploration activities in the North Sea.

about 2 years ago
Nexans, TenneT get things rolling on BalWin3 and LanWin4 offshore grid connections
Business & Finance

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

about 2 years ago
Illustration; Source: International Energy Agency (IEA)
Business & Finance

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.

about 2 years ago
Candela
Business & Finance

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.

about 2 years ago