Offshore Wind

Countries active in the offshore wind industry continue to consider steps to counter China’s dominance of the sector. The latest to announce a move is South Korea, where officials recently announced they may work with a global offshore wind industry group in order to better compete with China. Officials have said joining the Global Offshore […]

Over the past week, the offshore wind power sector in the U.S. received two major federal approvals that could add nearly 5 GW to the grid. On July 1, the Bureau of Ocean Energy Management (BOEM) approved a construction and operations plan (COP) for  Avangrid’s 791-MW New England Wind 1 project and 1,080-MW New England Wind […]

The wind energy industry has been on an exponential growth curve for more than a decade. POWER looks at the drivers behind the growth and predictions for the future. Nearly 200 countries made major collective

Efforts to combat climate change drive the growth of renewable energy technologies as governments and utility companies increase investments in solar and wind installations to meet rising electricity demands. Onshore wind is a well-developed market, while offshore wind is beginning to expand due to its high production efficiency and significant energy production potential. According to […]

The global race to build ever-larger offshore wind turbines may have another entrant, as Siemens Gamesa has reportedly told customers the company plans to produce a 21-MW model in the next few years. The Bloomberg news service on June 10, citing anonymous sources, said Siemens is involved in researching what would be the world’s largest […]

Global energy company GE Vernova and Seatrium Limited, a Singaporean state-owned group, said their consortium has been awarded a third contract by Dutch transmission system operator TenneT for construction of a 2-GW high-voltage direct current (HVDC) electric offshore transmission system in the Netherlands. The groups on June 10 said construction is set to begin this […]

Equinor on June 4 announced its has finalized an agreement with New York State Energy Research and Development Authority (NYSERDA) for the renewable power generated by the 810-MW Empire Wind 1 offshore wind project. The deal comes after NYSERDA in February announced that Equinor had been selected as a conditional winner in New York’s fourth […]

Siemens Gamesa plans to cut about 4,100 jobs from its wind turbine division as the company continues to restructure its business. The downsizing, reported May 28 by Reuters, impacts about 15% of the company’s workforce. The news service said the layoffs were noted in an internal letter to staff from CEO Jochen Eickholt. The cuts […]

Siemens Energy announced an overhaul of its struggling wind power division on May 8, unveiling plans for a new CEO for its wind turbine business and also saying job cuts would be included in the plan. The news came on a day when the company raised its revenue outlook and also said it needed to […]

The U.S. government offers certain benefits to renewable energy projects, primarily in the form of tax credits and depreciation. But the reality is that a growing number of tax-equity partnerships are reaching the end of their lifespan, and the sponsors and tax-equity investors in these projects need to be preparing for the future. In fact, […]