Offshore Wind
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Shell North America has sold its 50% stake in the 2.4GW proposed SouthCoast Wind project with its joint venture partner Ocean Winds North America.
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Neoenergia has signed a memorandum of understanding (MoU) with the government of Rio de Janeiro to support the development of offshore wind projects.
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The Bureau of Ocean Energy Management (BOEM) has approved Ørsted's 924MW Sunrise Wind project off the coast of New York, making it the seventh utility-scale offshore wind project approved under the Biden-Harris administration.
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Ørsted continues leadership changes after suffering significant impairments in 2023 from US offshore wind projects with the hire of Rasmus Errboe as deputy chief executive officer and chief commercial officer.
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The Bureau of Ocean Energy Management (BOEM) has proposed a second offshore wind lease sale for the Gulf of Mexico. The sale includes 4 sites off Louisiana and Texas which have the potential to power up to 1.2 million homes.
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The Bureau of Ocean Energy Management (BOEM) has finalised a Wind Energy Area (WEA) in the Gulf of Maine, which has a potential 32GW capacity.
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Ørsted's 132MW South Fork Wind is the first utility-scale offshore wind project to become fully operational in the US. The achievement comes after nearly a decade of industry struggles since the first large-scale transmission farm, Cape Wind, failed in 2015.
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Danish developer Ørsted has agreed to sell its stakes in a 957MW operating wind portfolio in the US to Stonepeak for about $300 million.
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The New York State Energy Research and Development Authority (NYSERDA) has issued conditional agreements for 2 offshore wind projects in its fourth offshore wind solicitation: 810MW Equinor-owned Empire Wind 1 and Ørsted & Eversource-developed 924MW Sunrise Wind.
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The Bureau of Ocean Energy Management (BOEM) has released the final environmental review of the 2.6GW New England Wind project off Massachusetts. The project is owned by Park City Wind, a subsidiary of Avangrid, and is expected to power over 900,000 homes.
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The Bureau of Ocean Energy Management (BOEM) has approved the construction and operations plan (COP) of 800MW Empire Wind 1, an offshore wind farm owned by Equinor in the New York Bight region. The BOEM's decision was the final step before the project could commence construction.
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Infrastructure and real assets-focused investment firm Stonepeak will acquire a 50% interest in Dominion Energy’s Coastal Virginia Offshore Wind project.
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Against challenging clean energy targets the US offshore wind energy continues to forge ahead. Since the start of the Biden-Harris administration, the Department of the Interior has approved the nation's first 6 commercial-scale offshore wind energy projects.
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The Bureau of Ocean Energy Management (BOEM) has designated 2 final Wind Energy Areas (WEAs) offshore Oregon as it moves closer to a lease sale.
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Eversource Energy has agreed to divest to Global Infrastructure Partners (GIP) its 50% stake in its remaining 2 offshore projects that are co-owned with Ørsted.
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To bolster California's offshore wind industry state legislators proposed a $1 billion bond act to help pay for the expansion of ports.
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Renewables company BrightNight has made 2 senior-level appointments to its asset management and construction teams.
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Dominion Energy has secured final approval from the Bureau of Ocean Energy Management (BOEM) for the construction and operations of its 2.6GW Coastal Virginia Offshore Wind (CVOW) project.
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Danish energy company Ørsted has terminated its offtake agreement with the state of Maryland for its 2 Skipjack Wind projects as it re-evaluates project plans amid current market conditions.
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BP and Equinor have divided their offshore wind joint venture projects with BP claiming full ownership of Beacon Wind and Equinor taking ownership of Empire Wind.
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The New York State Energy Research and Development Authority (NYSERDA) has closed its solicitation process for its fourth offshore wind auction. Several companies have announced their proposals, including Equinor, RWE, National Grid, and Ørsted.
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Ørsted is to become the sole owner of the 924MW Sunrise Wind project after buying out joint venture partner Eversource Energy.
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Consortiums led by Invenergy and TotalEnergies were awarded offshore wind projects with conditional contracts of 3.74GW capacity as the New Jersey Board of Public Utilities (NJBPU) closes its third-round tender.
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Updated to include:
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The Bureau of Ocean Energy Management (BOEM) has drafted the environmental review of future development on the six lease areas awarded in the New York Bight tender in 2022.
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Energy giants Equinor and BP have canceled their power purchase agreement (PPA) with New York to provide 1.26GW from the proposed Empire Wind 2 project.
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The state of Delaware has begun official negotiations with offshore wind developer US Wind, which is developing two wind farms off Maryland, to provide lease areas for the farms' undersea cables and onshore substations.
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The state of Louisiana has approved its first-ever offshore wind farm agreements for projects in state waters, inking contracts with Vestas and Mitsubishi subsidiaries.
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The Bureau of Ocean Energy Management (BOEM) has proposed a Central Atlantic offshore wind lease sale for over 277,000 acres in the waters off of Delaware, Maryland, and Virginia. The sale is expected to take place in 2024.
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Canadian province Newfoundland and Labrador (NL) has signed a memorandum of understanding (MoU) with the federal government to become a lead regulator on offshore wind projects in 16 inland bays in the province.
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Renewable and utility developer Invenergy has acquired the Atlantic Power Transmission (APT) project from Blackstone, relaunching the New Jersey transmission initiative as Jersey Link, to support New Jersey’s offshore wind goals.
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Ørsted’s 132MW South Fork project has become the first offshore wind farm to plug into New York’s power grid, and Vineyard Wind completed its first five wind turbines as the projects go head-to-head to become the first full utility-scale offshore wind farm in the US.
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Renewables developer energyRe has raised a $1.2 billion capital package to develop and construct its 10.5GW solar, wind, and storage portfolio, as well as 500 miles of transmission.
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The former chief executive of FirstLight Power, Alicia Barton, will join Vineyard Offshore as chief executive on January 1, 2024.
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Although an issue facing the whole energy sector, transmission and grid connectivity for the offshore wind industry has reached a whole new level of complexity.
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Boston-based Álvaro Ortega has joined innovative floating offshore wind (FLOW) company Gazelle Wind Power as chief financial officer.
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Offshore wind developer Attentive Energy is preparing two investments to help grow the industry's supply chain and support ocean-based technology startups in New Jersey.
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The Bureau of Ocean Energy Management (BOEM) has approved the 816GW Empire Wind 1 offshore wind project, owned by Equinor and BP. Empire Wind marks the sixth offshore wind project approved by the Biden-Harris administration in its goal to reach 30GW of offshore generation by 2030.
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Eversource and Ørsted's jointly owned Revolution Wind, a 704MW offshore wind project located off Rhode Island, has received final Bureau of Ocean Management (BOEM) approval for its construction and operations plan.
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Among the many hurdles the offshore wind sector is facing, the lack of guidelines for tax credits guidelines remains one of the most convoluted.
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New York will release requests for proposals (RFPs) for offshore wind and onshore renewable energy projects on November 30, 2023.
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Oceanic Wind Energy has renegotiated its agreements with green power developer Northland Power, taking back its 400MW Hecate Strait offshore wind project in British Columbia.
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Ørsted's chief financial officer and chief operating officer have left after the company announced $5 billion in impairments, canceling its 2.3GW Ocean Wind 1 and 2 offshore wind farms off New Jersey, and pulling out of a consortium due to bid on offshore wind projects in Norway.
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Siemens Gamesa Renewable Energy has pulled out of its $200 million Portsmouth, Virginia, offshore wind blade manufacturing facility, citing turbulence in the industry.
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Eversource Energy is looking to sell its 50% stake in its offshore wind joint venture with Danish energy giant Ørsted, which includes three projects totaling 1.7GW.
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The seas have been rough for the offshore wind sector, and projects are repeatedly being hit by rising interest rates, supply chain disruptions, local unrest, and political opposition. Financing issues and heavy losses in the past quarter have unraveled the traditional project process. The key economic burden on these projects is, by far, the power purchase agreement (PPA) gap.
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Energy giant BP has declared impairments of $540 million related to its New York offshore wind projects, Empire Wind 1 and 2 and Beacon Wind. BP owns the projects off the New York and Massachusetts coasts in a 50:50 joint venture with Equinor.
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The Bureau of Ocean Energy Management (BOEM) has finalized four Wind Energy Areas (WEAs) with the potential to supply 3GW of energy for another Gulf of Mexico lease sale.
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Despite earlier announcements of large impairments and project cancellations for offshore wind, joint-venture partners Ørsted and Eversource have taken the final investment decision (FID) in their 704MW Revolution Wind, commencing the construction of the utility-scale offshore wind farm.
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