The Title Team - Commercial Services’ Post

Have you heard? Governments globally are gearing up to tender over 100 gigawatts of renewable energy projects in 2024, with a substantial focus on offshore wind. This signifies a significant shift in the renewable energy sector, directly impacting asset management strategies. Our analysis of the Wood Mackenzie report provides key insights into the news, challenges, and opportunities that these tenders present. We cover these topics: 1️⃣ Growing opportunities for asset management. 2️⃣ Strategic realignment within asset management practices. 3️⃣ Implications of tender design and market dynamics. Staying ahead of these developments is key for those in the renewable energy asset management community. Find a link to the full article in the comments below. ++++++ #renewableenergy #assetmanagement #offshorewind

We are excited to see the US federal government and the Bureau of Ocean Energy Management (BOEM) grant final approval for Sunrise Wind’s construction and operations plan. This significant milestone brings us closer to harnessing the full potential of offshore wind energy. The Sunrise Wind project, located south of Martha’s Vineyard and east of Block Island, represents a substantial step forward in the transition to renewable energy. With a capacity of 924 MW, it will provide clean power to over 320,000 homes annually. This achievement is the result of collaborative efforts, incorporating crucial feedback on environmental impacts from Tribes, and federal, state, and local agencies. At Empire Energy Partners, we are dedicated to supporting and advancing such impactful renewable energy projects. Our commitment to designing, engineering, and installing critical infrastructure is perfectly aligned with the goals of the Sunrise Wind project and other offshore wind initiatives. By leveraging our expertise, we contribute to building robust and sustainable energy systems that drive economic growth and create high-quality union jobs in local communities. Since 2021, the Department of the Interior’s approval of eight commercial-scale offshore wind projects and BOEM’s successful offshore wind lease auctions underline the growing momentum in the renewable energy sector. These initiatives, including the New York New Jersey region sales, highlight our shared commitment to a sustainable future. Empire Energy Partners is proud to support these groundbreaking efforts in clean energy and is dedicated to contributing to the development of renewable infrastructure. Together, we are powering a greener tomorrow. Learn more about our initiatives at https://lnkd.in/ePQDd2RN #CleanEnergy #OffshoreWind #RenewableEnergy #SustainableFuture #SunriseWind

🌟 Exciting News! ENGIE became #1 developer for corporate clean energy Power Purchase Agreements (PPAs), marking this a pivotal moment in our sustainability journey. 🌟 What are the advantages of a PPA contract for our business customers? 🔒 Cost Predictability: by committing to a PPA, a stable, long-term price for the electricity needs is secured. This move ensures predictability in energy costs, shielding businesses from market fluctuations and providing financial security for the future. 🛡️ Risk Mitigation: embracing renewable energy through PPAs allows businesses to diversify their energy portfolio, reducing exposure to regulatory uncertainties and volatile fossil fuel markets. 🌱 Sustainability Goals: sustainability is at the core of everything we do. By partnering with renewable energy providers, companies not only reduce their carbon footprint, but also align with the commitment to environmental responsibility. This milestone underscores the joined dedication to creating a greener, more sustainable future. Together, we can make a difference! #PPA #NetZero #Sustainability #RenewableEnergy #PowerPurchaseAgreement #EnvironmentalResponsibility

On July 29, the IPA hosted a workshop titled, ‘Post Award Indexed REC Process Workshop 1: Pain Points for Developers (without the ability to negotiate post-award)'. This workshop discussed developers’ pain points with the current Indexed REC contracts, including cost challenges, supply chain issues, and areas where renewable energy projects developers would like to see more flexibility within the Indexed REC contract. The workshop notes are now available on the Downstream Negotiations page of the IPA website.     The IPA’s 2024 Long-Term Renewable Resources Procurement Plan outlined a process to further explore the issue of post-award REC delivery contract term changes for utility-scale wind and utility-scale solar projects, with a goal that an Indexed REC post-award negotiation process may be finalized for inclusion in a compliance filing within one calendar year after the Plan’s February 20, 2024, approval.     With this as the backdrop, the IPA conducted its first workshop in July and will be conducting a series of workshops on this topic through November 2024 and seeking stakeholder feedback.     For more information on these workshops, visit the Downstream Negotiation for Indexed REC Contracts webpage on the IPA website.     https://lnkd.in/gYaHD7d9     #Workshop #DownstreamNegotiations #renewable #energy #development 

Why #Oil & Gas Contractors Need an #Energy Transition Strategy  Future energy sector growth primarily in renewables #Global energy transition present attractive business opportunity in renewables amid declining investment in oil & gas. For a copy of the report, contact me to set-up a call. #GlobalData

Will challenging market conditions force companies to rein in their renewable energy targets and focus on their core operations? We've written before about companies seeking to be more selective about the projects they take on given the economic challenges in the energy market. But this selectivity extends to the sectors they are investing in too. We're seeing this play out in a couple of stories this morning, and this could be a major trend worth looking at in the second half of 2024. Oil giant BP has reportedly paused work on offshore wind projects as chief executive Murray Auchincloss (pictured right) seeks to address investor concerns about its energy transition strategy. The company is going to focus more of its efforts on its core oil and gas operations. BP has not commented. Separately, Statkraft has announced this morning has scaled back its growth plans for renewable energy. The company is looking to develop between 2GW and 2.5GW of solar, onshore wind and battery storage projects annually from 2026, which is down from its previous target of 2.5GW-3GW annually. Birgitte Ringstad Vartdal (pictured left), president and chief executive at Statkraft, said the "market conditions for the entire renewable energy industry have become more challenging" and it is set to prioritise its hydro operations. #offshorewind #oilandgas #energytransition A Word About Wind | Energy Storage Report | Tamarindo

Reflecting on insights gained at the Oil & Gas conference. Exciting times as we witness the industry's transition towards renewable energy. Embracing innovation and sustainability for a greener future! 🌿 #EnergyTransition #RenewableFuture" NAPE conference" repositioning the Oil and Gas industry for future energy dynamics" Nov 2023

Please read this insightful post about renewable energy from my colleague Dustin Lamb

🔋⚡ As Australia continues its rapid transition towards renewable energy sources, the role of Battery Energy Storage Systems (BESS) has become increasingly crucial. BESS technology provides the critical flexibility and grid stabilisation needed to support the integration of intermittent wind and solar power. However, the operational expenditure associated with BESS assets presents a significant challenge for project owners and operators. Bureau Veritas is with you every step of the way throughout the asset lifecycle, from initial design to ongoing asset management, to ensure projects run safely and efficiently. With a dedicated team of renewables experts operating worldwide, our specialists act as your eyes and ears on the ground throughout asset origination, project development and project deployment, ensuring your projects comply with regulations and industry standards. 🔌♻️ #BVGreenLine #BESS #RenewableEnergy

🎯Project Owners with Prime Projects – Shovel Ready 💡   ✔$100M to $5B+. Most nations. Commercial Real Estate, Oil and Gas, Renewable Energy …. 🎯Project Owners with Prime Projects – Shovel Ready 💡   ✔$100M to $5B+. Most nations. Commercial Real Estate, Oil and Gas, Renewable Energy …. ☑ https://lnkd.in/dKJ4GxGe ☑ EJ@ats-busines.com * Our Project Financing Readiness Support Services provide clear advantages and are readily available for our clients. * Projects across all these nations require the same level of potential premium quality.   #investment #consulting https://lnkd.in/dKJ4GxGe * Our Project Financing Readiness Support Services provide clear advantages and are readily available for our clients. * Projects across all these nations require the same level of potential premium quality.   #investment #consulting