EnergyMagz’s Post

RWE Reports Surge in Earnings Driven by Offshore and Onshore Renewable Energy Segments #RenewableEnergy #GreenEconomy #Energy #EnergyTransition https://lnkd.in/dqziYpNs

RWE has taken an investment decision to build a new battery energy storage system in New South Wales, Australia. “RWE’s investment decision and signing of supplier contracts for the Limondale BESS project is an exciting step forward in our commitment to the Australian renewables sector and support of New South Wales’ renewable energy ambitions,” commented Katja Wünschel, CEO RWE Renewables Europe & Australia. “As a battery storage pioneer, RWE develops, builds and operates innovative and competitive battery storage systems in Europe and the US, and soon here in Australia. We look forward to continuing to work with all stakeholders to help realise the country’s renewable energy goals.” RWE’s said its eight-hour lithium-ion BESS project was the only successful project in NSW’s first Long Duration Storage Long-Term Energy Service Agreements tender process. The Limondale BESS project will have a planned capacity of 50 MW / 400 MWh and will be located next to RWE’s 249 MWac Limondale Solar Farm. Tesla has been selected as the BESS supplier with its Megapack batteries, while Beon Energy Solutions was chosen as the delivery partner for the Balance of Plant works. Construction is slated to begin in H2 2024, with commissioning planned for late 2025. RWE also took an investment decision for the 1.6 GW Nordseecluster offshore wind projects in the North Sea. Sven Utermöhlen, CEO RWE Offshore Wind, said: “Our portfolio already includes six offshore wind farms off Germany’s coastlines. The Nordseecluster will add two more. This sends out a good signal for the energy transition in Germany and for RWE. With a total capacity of 1.6 gigawatts, these wind farms will generate around 6.5 terawatt hours of green electricity per year. This will contribute in particular to the decarbonisation of industry in our home market.” Nordseecluster A will have a capacity of 600 MW and Nordseecluster B will have a capacity of 900 MW. Nordseecluster will enter into construction in 2025 and will come online between 2027 and 2029. RWE said it will use the green electricity generated from the wind farms to support its industrial customers on the path to decarbonisation with customised energy solutions, including operators of AI data centres. #cleanenergy

German energy company RWE has kicked off the year on a high note, boasting a robust start with adjusted EBITDA hitting €1.7 billion ($1.84 billion) and adjusted net income reaching €0.8 billion. According to its earnings report, renewable sources accounted for 42% of electricity generation in the first quarter of 2024. The offshore wind segment witnessed a surge in earnings, propelled by improved wind conditions and capacity expansions within the company's onshore wind/solar division. #EnergyConnects #energynews #energyindustry #news #oott #renewableenergy

🌍 Renewable Energy Milestone: RWE Hits Record Highs in H1 2024 🌱 In an exciting development, RWE has reached unprecedented levels in both power production and earnings from renewable energy sources in the first half of 2024. This achievement underscores the growing impact and potential of renewable energy in driving a sustainable future. For more information here is all the article: https://buff.ly/4fLBygT As the world accelerates towards clean energy solutions, now is the perfect time to collaborate on innovative renewable projects. If you’re working on renewable energy initiatives, let's connect and explore how we can drive this momentum forward together. 🔗 #RenewableEnergy #Sustainability #CleanEnergy #EnergyTransition #GreenPower

bp Shifts Focus: Divests US Onshore Wind Business, Strengthens Renewables with Lightsource bp In a strategic move, bp plans to divest its US onshore wind energy business, consisting of 10 operational wind assets with a net generating capacity of 1.3GW. This step aligns with bp's focus on integrating onshore renewable projects under Lightsource bp, its solar power development arm, as it aims to simplify its portfolio and deliver greater value. Renewables remain central to bp's energy transition strategy, and with this sale, the company aims to concentrate its efforts on Lightsource bp's growth in utility-scale renewable power worldwide. Read more https://lnkd.in/dQCQCSKF #Renewables #EnergyTransition #Sustainability #bp

According to the Annual Wind Energy Report 2023 by Wind Energy Ireland, onshore wind power has become one of the most efficient renewable energy sources in Ireland, with 35% of the country’s total electricity needs being supplied by onshore wind in 2023. Bord na Móna and SSE Renewables have partnered to launch a new onshore wind energy joint venture. The partnership aims to deliver up to 800MW of power generation capacity over the coming decade through an investment of up to EUR1 billion. KPMG Ireland advised Bord na Móna in relation to the partnership with SSE. To know more, connect with, Russell Smyth, Partner, KPMG in Ireland. #kpmgcorporatefinance #kpmgdeals #mergersandacquisitions #renewable #energy #windenergy

𝘽𝙋 𝙎𝙝𝙞𝙛𝙩𝙨 𝙍𝙚𝙣𝙚𝙬𝙖𝙗𝙡𝙚 𝙎𝙩𝙧𝙖𝙩𝙚𝙜𝙮, 𝙋𝙡𝙖𝙣𝙨 𝙎𝙖𝙡𝙚 𝙤𝙛 𝙐𝙎 𝙒𝙞𝙣𝙙 𝙀𝙣𝙚𝙧𝙜𝙮 𝘽𝙪𝙨𝙞𝙣𝙚𝙨𝙨 bp is set to sell its U.S. onshore wind energy division, BP Wind Energy North America Inc., as part of its strategic shift to simplify operations and enhance focus on its solar ventures through Lightsource bp. The sale, expected to be launched soon, includes assets across seven U.S. states with a total capacity of 1.7 gigawatts, valued at around $2 billion. This move aligns with BP's goal to transition into an integrated energy company, increasingly pivoting towards solar and onshore wind development to meet its low-carbon power needs and assist customers in their decarbonization efforts. Additionally, BP is selling a stake in the Trans Adriatic Pipeline AG to Apollo Global Management, Inc. for $1 billion, maintaining a controlling interest post-sale. #EnergyTransition #Renewables #SolarPower #WindEnergy #BP https://lnkd.in/gbHuRaNa

BP is selling its U.S. onshore wind business, shifting focus to its Lightsource BP solar partnership. The move comes as wind energy faces cost pressures and BP doubles down on fossil fuels. Big changes in its renewable energy strategy. #BP #WindEnergy #Renewables

A new chapter for Lightsource bp ☀ The remaining 50.03% of Lightsource has now been acquired by bp, as they fully integrate a 62GW pipeline of renewable projects into their portfolio. The presence of an oil and gas giant in the renewables space is a significant step for the global transition to clean energy. In a deal worth £400million, bp has committed to the development of renewable energy projects. Hopefully, this has set a precedent for the rest of the fossil fuel industry... https://lnkd.in/e8xpfGGM

😬 GE Renewable Energy recorded a Q4 loss of $347m, compared with a loss of $454m for Q4 2022. More positively, revenues of $4.2bn for Q4 2023 increased 23% reported and 19% organically driven by grid and offshore wind. #offshorewind #gerenewables https://lnkd.in/ebGF3NV3