Offshore Wind

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, […]

The Biden administration has unveiled several sweeping actions over the past month aimed at boosting clean energy deployment, enhancing manufacturing jobs, and reducing pollutant emissions across the power sector. The measures—many announced as part of a comprehensive Earth Week agenda on April 25—are notable for their strategic push in an election year, highlighting the administration’s […]

In a time where capacity revenues are pricing lower and many generation owners find that their facilities are not being dispatched for energy on a consistent basis, reliable revenue streams are increasingly important. In addition to selling energy and capacity, many generation facilities collect fixed, monthly payments for the provision of “reactive power,” which are […]

A report from a leading wind power trade association said a record 117 GW of new wind energy generation capacity was installed worldwide last year, a 50% increase from the prior year. The “Global Wind Report 2024,” published April 16 by the Global Wind Energy Council (GWEC), said “the world is moving in the right […]

Chinese wind turbine makers continue to pace the global market, taking four of the top five spots in a ranking of the world’s top manufacturers of both onshore and offshore wind power equipment. Research from BloombergNEF (BNEF) published March 27 showed global wind power generation capacity additions hit a record 118 GW in 2023. BNEF’s […]