Institutional Investing in Infrastructure (i3)’s Post

PROJECT NEWS: Jeonnam Offshore Wind 1, a 96-megawatt offshore wind project developed jointly by Copenhagen Infrastructure Partners, SK Innovation E&S (one of the largest conglomerates in South Korea) and Copenhagen Offshore Partners (the exclusive offshore wind development partner to CIP) has delivered its first power.

Offshore Update: Equinor, Ørsted Sign New Empire Wind 1, Sunrise Wind Contracts with New York State The weighted average all-in development cost of the two awarded offshore wind projects over the life of the contracts is USD 150.15/MWh (approx. EUR 138/MWh). The 810 MW Empire Wind 1 is already moving towards the construction phase as Equinor received final approval. Ørsted's Sunrise Wind has 924 MW. This value of EUR 138/MWh is higher than EUR 86.45 per MWh, value that the consortium between Belgium-based Elicio and BayWa r.e. has won the AO5 tender in France to develop and operate the country's first floating offshore wind farm, the 250 MW Pennavel project. On the other hand in this fourth solicitation by NYSERDA only european companies have won the tender... US companies are not winning any in their own soil, I mean sea... Something to think about why... #Portugal #Spain #solarpv #wind #sps #wps #solarplusstorage #windplusstorage #ess #energystoragesystems #greenhydrogen #hydrogen #energytransition #sustainablefinance #climatechange #climatefinance #cleanenergy #renewableenergy #sustainability #innovation #cleantech #renewables #energytransition #cleanenergy #energysector #greeneconomy #renewableenergy #greenhydrogen #sustainablefinance #greenfinance #alternativeenergy #powergeneration #sustainableinvesting #batteries #energystorage #powermarkets #innovation #oilmarkets #oilandgas #linkedinnews #linkedinfinance #hydrogenenergy #hydrogeneconomy #energy #pv #solarenergy #climate #bess #solar #solarpower #power #developer #projects #offshore #windoffshore #floatingwind #floatingoffshorewind #bioethanol #offshorewind .https://lnkd.in/d7wpWYus

TotalEnergies and EnBW Win Major Bids in 2.5 GW German Offshore Wind Tender https://lnkd.in/gCTXhP5C TotalEnergies and EnBW have emerged as winners in a competitive German offshore wind tender, securing contracts for two North Sea projects totaling 2.5 GW. These projects, valued at over EUR 3 billion, mark significant steps in expanding renewable energy capacity. TotalEnergies plans to create a 3.5 GW wind hub, while EnBW aims to decarbonize industry through power purchase agreements. Both projects will enhance Germany’s green energy landscape by 2031. TotalEnergies | EnBW Energie Baden-Württemberg AG | German Energy Agency (dena) | German Energy #RenewableEnergy #OffshoreWind #TotalEnergies #EnBW #GreenEnergy #CleanEnergy #WindPower #SustainableEnergy #EnergyTransition #ClimateAction #RenewableProjects #GermanyGreenEnergy #EnergyInnovation #NetZero #EnvironmentalSustainability #PPAs #MarineConservation

I started with Ørsted in 2016 (then DONG Energy), as head of European affairs. A big challenge at the time was to get attention to the significant potential offered by offshore wind, for; Europe's resilience, reduced gas imports, jobs and emissions reductions. In 2017 that job became much easier as we won a German auction with the world's first zero bid, with our Borkum Riffgrund 3 project. At the time many asked whether this was just Ørsted putting in an option - and that we were not seriously going to build it. We explained that by 2024 turbines would be significantly larger and LCOE lower (by 2017 the largest turbines were 8 MW). But project development and delivery takes time in the offshore wind sector - It's therefore pretty cool to see the first turbine being installed!

Flotation Energy and Vårgrønn, a joint venture between Plenitude (Eni) and HitecVision, have been granted offshore planning approval for the Green Volt floating wind project in Scotland. Green Volt has now received all its planning approvals, including onshore consent earlier this month and this latest offshore approval. Green Volt will feature up to 35 floating wind turbines totalling 560 MW and forms a key project in the Crown Estate Scotland’s Innovation and Targeted Oil & Gas (INTOG) leasing round. “It is fantastic to have received the green light to deliver the world’s biggest floating offshore wind project, right here in the Scottish North Sea,” noted Nicol Stephen, CEO at Flotation Energy. “This major milestone places Flotation Energy and our Joint Venture Partner, Vårgrønn, firmly at the heart of the energy transition. “Gaining consent just over a year after our seabed exclusivity was awarded is a testament to the commitment, speed and determination of our Green Volt team, the Scottish Government and its key agencies. " “With Green Volt being Europe’s first commercial-scale floating wind project, achieving offshore consent for the project marks an important moment for the whole offshore wind industry,” explained Olav Hetland, CEO at Vårgrønn. “At 560 MW, Green Volt serves as an essential stepping stone from current small-scale projects to gigawatt-size developments, supporting the supply chain in scaling up new technology. “Floating wind is set to be a huge global market in the decades to come. By being a frontrunner, Scotland is now positioned to be home to world-leading expertise and a whole industry of new jobs." Once online, the Green Volt is expected to displace 1 million tonnes of carbon emissions per annum. “It is great news that we have consented the first project in the Crown Estate Scotland’s Innovation and Targeted Oil and Gas (INTOG) leasing round – this is a significant milestone which will help secure Scotland’s place at the forefront of floating wind technology,” commented First Minister of Scotland Humza Yousaf. “Scotland is one of the best places in the world to develop offshore wind and its supply chain and we are determined to maximise the huge economic opportunity offshore wind can bring." #cleanenergy

Equinor has reached a major milestone for the 810 MW Empire 1 offshore wind project after signing a purchase and sale agreement (PSA) with the New York State Energy Research and Development Authority (NYSERDA). “We thank NYSERDA and the state of New York for their steadfast commitment to the offshore wind industry and to achieving the state’s broader renewable energy targets,” said Molly Morris, President of Equinor Renewables Americas. “Empire Wind 1 is a defining project for Equinor and the PSA agreement is an important milestone in de-risking and ensuring a robust path forward as we work toward delivering first power.” As a result of the PSA, Equinor said Empire 1 is on track to deliver first power in late 2026, with onshore construction activity currently underway at the South Brooklyn Marine Terminal. Equinor’s Empire 1 project will be the first offshore wind farm to connect directly into the New York City grid. Equinor was named a conditional winner in New York’s fourth offshore wind solicitation in February and secured a strike price of $155 per MWh. Equinor stated that it aims to make a final investment decision and use project financing to reach financial close by the end of 2024. Equinor said it also plans to bring in a partner to reduce financial exposure. “Major renewable energy infrastructure projects such as Empire Wind 1 are a crucial component in reaching toward New York’s climate goals,” commented Doreen Harris, NYSERDA CEO and President. “NYSERDA applauds Equinor for its ongoing commitment to investing in New York’s green economy, including the redevelopment of South Brooklyn Marine Terminal, and helping to stand-up New York’s offshore wind industry one significant milestone at a time.” #cleanenergy

Daily Energy Update UK AND NORTH SEA  Cerulean Winds picks Ardersier as deployment port for massive floating wind project (Energy Voice)  UK floating wind developer Cerulean Winds has selected Haventus-owned Ardersier as the deployment port for a trio of Scottish wind projects. Cerulean Winds secured the three 1 GW leases as part of the Scottish government’s Innovation and Targeted Oil and Gas round in 2023. Once built, the Aspen, Beech and Cedar projects will include more than 300 wind turbines, with Cerulean expecting to make a final investment decision in 2026. Cerulean said Aspen, its first project, will help foster Scotland’s supply chain and direct more than £1 billion of investment into manufacturing and support services, with Ardersier acting as a strategic hub. The port facility, located near Inverness, is undergoing a £400 million redevelopment focused on repositioning the former oil and gas fabrication yard or the offshore wind sector. To keep up with the latest news, technology and solutions in the Upstream space secure your place at SPE Offshore Europe - register your interest to attend today: https://lnkd.in/e3YE9hVU

Equinor has reached a major milestone with its 810 MW Empire Wind 1 offshore wind project, securing a $3bn financing package to bring clean energy to New York and New Jersey. Once operational in 2027, this project will power 500,000 New York households and contribute to the state's ambitious goal of 9 GW of offshore wind by 2035. The US is setting its sights on significant offshore wind expansion, with a federal target of 30 GW by 2030. As Equinor moves forward, this project is a key piece of the puzzle in achieving a cleaner, more sustainable future. Equinor Advances Offshore Wind in the US: https://lnkd.in/eH8MeGHB #OffshoreWind #RenewableEnergy #Sustainability #CleanEnergy #WindPower

Good news for the US offshore wind market, as FID is taken on Sunrise Wind Ørsted and Eversource has taken the final investment decision (FID) on the 924 MW US East Coast Sunrise Wind project, after having received key approvals from BOEM. The project, when operational in 2026, will be the largest US offshore wind project to date. The decision to move ahead follows a difficult last year for the US offshore wind market, after several projects having been halted, changing hands, or having to renegotiate the offtake agreements. Recent news from the US market has turned the sentiment however, giving a positive boost ,with additional projects, such 810 MW Empire Wind I, expected to get FID soon. With new FIDs, the US offshore wind market seems to be on the right track again, opening up opportunities for suppliers and vessel operators. Ørsted has agreed to acquire Eversource’s 50 % stake in the project, conditional of regulatory approvals. Image: Van Oords Aeolus at work, installing turbines on Ørsted/GIP project South Fork Image Credit: Van Oord Link 👉 https://lnkd.in/dnW5m6cZ Ørsted

🔊 The UK government's award of a Contract for Difference for the 400MW Green Volt floating wind project off Scotland signals strong confidence in the country's ability to lead in floating offshore wind technology. 🎯 Developed by Flotation Energy and Vårgrønn, the £2.5bn project secured a competitive rate of £139.93/MWh in the AR6 auction, well below the maximum available. The project, part of the UK’s Innovation and Targeted Oil and Gas initiative, aims to power oil and gas platforms during the energy transition while supplying clean energy to the UK grid. ✅ It is expected to create over 2,800 jobs and boost investment in port infrastructure. #offshorewind #floatingwind #renewableenergy #windenergy #offshorefloatingwind