Robert Speht’s Post

bp to take full ownership of Beacon Wind US offshore projects and transfer interest in Empire Wind to Equinor Robert Speht, CEO of Vidi Energy Group, comments: “It’s a shame to see bp and Equinor going separate ways, but there’s been some issues in the US market that have probably forced this. It would be great to see bp partnering up with a US developer going forwards.” bp and Equinor today announced an agreement to restructure the ownership of their joint US offshore wind projects which, following completion, will result in bp taking ownership of Equinor’s 50% stake in the Beacon Wind 1 and 2 projects and Equinor taking ownership of bp’s 50% stake in the Empire Wind 1 and 2 projects. In addition, bp agrees to take ownership of Equinor’s 50% interest in the Astoria Gateway for Renewable Energy (AGRE) site and, subject to certain future conditions, Equinor agrees to take ownership of bp’s 50% interest in the South Brooklyn Marine Terminal (SBMT). Previously, bp and Equinor each held a 50% stake in the Beacon and Empire offshore wind projects. Under the new agreement, the companies will work independently to develop their wholly owned projects. The pair have also agreed with the New York State Energy Research and Development Authority (NYSERDA) to terminate the Offshore Wind Renewable Energy Certificate (OREC) Purchase and Sale Agreement for the Beacon Wind 1 project. The agreement aims to help each company optimize their development strategies, strengthen their positions in the US offshore wind market and continue supporting the energy transition.  “Over the past few years, we have built a highly experienced offshore wind team with deep capabilities and a sizeable global project portfolio with scale positions in the most attractive basins,” said Anja-Isabel Dotzenrath, bp executive vice president, gas & low carbon energy. “We remain disciplined with an uncompromised focus on value creation across our entire offshore wind portfolio as we continue to pursue growth opportunities that underpin our company’s transformation.” “Beacon Wind 1 and 2 have immense potential to create American jobs, benefit local communities, deliver low carbon energy and support the energy transition,” added Joshua Weinstein, bp’s president of offshore wind Americas. “bp has a proven track record of delivering complex engineering projects offshore, and we’ll continue bringing that expertise to bear as we advance the development, engage with communities and bring these projects closer to commercial operations." Original post by: bp Read the full article: https://lnkd.in/e8zUE6ji #windenergy #windenergie #offshorewind #offshorewindenergy #floatingwind #floatingoffshorewind

𝕋𝕙𝕖 𝔹𝕣𝕖𝕖𝕫𝕪 𝔹𝕦𝕝𝕝𝕖𝕥𝕚𝕟 - 𝟙.𝟚𝟡.𝟚𝟜 🍃 🔌 📰 𝗘𝗾𝘂𝗶𝗻𝗼𝗿 𝗮𝗻𝗱 𝗯𝗽 𝗳𝗶𝗻𝗮𝗹𝗶𝘀𝗲 𝗨𝗦 𝗼𝗳𝗳𝘀𝗵𝗼𝗿𝗲 𝘄𝗶𝗻𝗱 𝘀𝘄𝗮𝗽 - 𝗘𝗾𝘂𝗶𝗻𝗼𝗿 𝘄𝗶𝗹𝗹 𝘁𝗮𝗸𝗲 𝗳𝘂𝗹𝗹 𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗼𝗳 𝘁𝗵𝗲 𝗘𝗺𝗽𝗶𝗿𝗲 𝗪𝗶𝗻𝗱 𝗹𝗲𝗮𝘀𝗲 𝘄𝗵𝗶𝗹𝗲 𝗯𝗽 𝘄𝗶𝗹𝗹 𝗮𝘀𝘀𝘂𝗺𝗲 𝗳𝘂𝗹𝗹 𝗼𝘄𝗻𝗲𝗿𝘀𝗵𝗶𝗽 𝗼𝗳 𝘁𝗵𝗲 𝗕𝗲𝗮𝗰𝗼𝗻 𝗪𝗶𝗻𝗱 𝗹𝗲𝗮𝘀𝗲 Norwegian oil and gas company Equinor and bp have agreed a swap transaction to reorganise their joint ownership of offshore wind projects in the US. Equinor will take full ownership of the Empire Wind lease and projects through Empire Offshore Wind Holdings, and will also take over bp’s 50% share of the South Brooklyn marine terminal lease. UK-based oil and gas giant bp will assume full ownership and operational control of the Beacon Wind lease and projects through Beacon Wind Holdings. It will also own the associated project company that holds the Astoria Gateway for Renewable Energy site. The transaction will close in the second or third quarter of 2024. Equinor renewables executive vice-president Pål Eitrheim stated: “We aspire to be a leading company in the energy transition. “Building on our experience as a leading player in US offshore wind, we now take full ownership of a mature, large-scale offshore wind project in a key energy market, where we have built a strong local organization.” Equinor secured the Empire Wind lease in 2017. It is being developed in two projects; Empire Wind 1 with 810MW of capacity and Empire Wind 2 with a potential 1.2GW of capacity. Equinor submitted a bid for the Empire Wind 1 project in New York’s fourth offshore wind solicitation round on 25 January 2024. Equinor and the New York State Energy Research and Development Authority have agreed to terminate the offshore wind renewable energy certificate purchase and sale agreement for the Beacon Wind 1 project. Both Empire Wind 1 and 2 have been affected by industry-wide macroeconomic factors. Empire Wind 1 is competing in the NY4 solicitation (the latest round of proposals from offshore wind developers to deliver offshore wind energy to New York State). At the same time, Empire Wind 2 will be prepared for future rounds. The project is expected to deliver a real base project return towards the lower end of the 4–8% range for renewable projects. Equinor Americas renewables senior vice-president Molly Morris stated: “Empire Wind 1 is ready to deliver on New York’s climate and energy goals, with numerous permits and supplier contracts secured. “The strong commitment by the state to develop this industry is reflected in the NY4 rapid rebid offering, providing an opportunity to improve value creation for the project.” #usoffshorewind #offshorewind #lsprenewables #bp #equinor #empirewind #beaconwind #rebeccatherecruiter Rebecca Macmillan

Avangrid, Inc. (#NYSE: #AGR), a leading #sustainable energy company and member of the Iberdrola Group, and #Copenhagen Infrastructure Partners (CIP), a global leader in #greenenergy investment and in #offshorewind development through its affiliate Vineyard Offshore, today announced that the Vineyard Wind 1 project is now delivering more than 136 megawatts (#MW) to the electric grid in #Massachusetts, making it the largest operating offshore wind project in the #UnitedStates. The first large-scale offshore wind project in the United States, Vineyard Wind 1 now has 10 turbines in operation totaling approximately 136 MW, enough to power 64,000 homes and businesses in the Commonwealth. Vineyard Wind 1 has currently installed 47 foundations and transition pieces and 21 turbines, with installation of the 22nd turbine underway. The project will be the largest renewable energy facility in #NewEngland once fully operational, delivering 806 megawatts — enough clean electricity to power 400,000 homes and businesses. “With 10 turbines now in operation, Avangrid is delivering enough clean energy to power more than 60,000 homes and businesses in Massachusetts,” said Avangrid CEO Pedro Azagra. “Our Vineyard Wind 1 project continues to demonstrate the significant benefits that offshore wind offers the New England region, delivering well-paying union jobs, local investment, and clean energy that is helping Massachusetts meet its growing demand for electricity.” In February 2024, Vineyard Wind delivered approximately 68 MW from five turbines to the grid. Building on the 136 megawatts currently in operation, additional power will be delivered to the grid sequentially, with each #turbine starting production once it completes the commissioning process. The power from the project interconnects to the New England #grid in #Barnstable, transmitted by underground cables that connect to a substation further inland on Cape Cod. Once completed, the project will consist of 62 wind turbines. Offshore wind is a critical energy resource in the Northeast region, and is uniquely positioned to meet the New England region’s winter peak demand. In 2018, ISO New England released an assessment, which found that 800 megawatts of offshore wind during a two-week cold snap would have saved ratepayers $40-45 million and avoided more than 108,000 metric tons of #carbonemissions, equivalent to 5% of the region’s annual emissions. From the outset of this project, Vineyard Wind recognised the importance of building and supporting a workforce of local, highly skilled, and diverse tradespeople. The valuable collaboration with union leadership on this project is a prime example of how this new industry can be a responsive member of the communities it serves, ensuring accessible and family-sustaining careers.

Report: Three offshore wind projects cancelled off New York Three offshore wind projects planned off the state of New York have been cancelled following an announcement last week by the New York State Energy Research and Development Authority (NYSERDA), the state authority in charge of the deals. As reported by Politico, NYSERDA said that no final agreements could be reached with the three projects that had received provisional awards in October 2023. Those bids were all linked to major supply chain investments by General Electric and a larger turbine it planned to build that was aimed at boosting the region’s renewable energy portfolio. The projects that were negotiating contracts are the 1,404 MW Attentive Energy One project being developed by TotalEnergies, Rise Light and Power and Corio Generation; the 1,314 MW Community Offshore Wind project developed by RWE Offshore Renewables and National Grid Ventures; and the 1,314 MW Excelsior Wind developed by Vineyard Offshore with backing from Copenhagen Infrastructure Partners. “Subsequent to the provisional award announcement, material modifications to projects bid into New York’s third offshore wind solicitation caused technical and commercial complexities between provisional awardees and their partners, resulting in the provisionally awarded parties’ inability to come to terms,” NYSERDA wrote in an announcement. In February, Politico’s E&E News reported that GE did not plan to proceed with an 18-megawatt turbine. NYSERDA confirmed that was the main reason no final awards were made. As a result, the three projects would have needed to rely on smaller 15.5 MW turbines, which in turn meant that the developers would have needed to build and install more offshore foundations to site each turbine – a move that would have added significant time and labor costs to each project. Marie J. French, the author of the Politico article, commented that: “New York’s signature offshore wind projects meant to boost confidence in the industry are being scrapped, a major hit to the industry in the state and the nation.” French also commented: “The unsuccessful solicitation comes after several blows to the industry in the US in the past year, indicating the high costs and regulatory hurdles each project faces — along with the concern over socking utility customers with higher bills to pay for them.”  “NYSERDA remains committed to advancing New York’s offshore wind industry in pursuit of the state’s Climate Act goals,” spokesperson Kate Muller said in a statement. It is possible that some of the project developers might turn their attention to winning awards in New Jersey, where another solicitation is expected later this year. https://lnkd.in/d7SUdEug

bp Assumes Complete Ownership of Beacon Wind Offshore Projects in the US, Transfers Empire Wind Stake to Equinor Reading Time: 2 minutesbp and Equinor have reached an agreement to restructure their joint US offshore wind projects. bp will take over Equinor’s stake in Beacon Wind 1 and 2, while Equinor will take over bp’s stake in Empire Wind 1 and 2. Additionally, bp will acquire Equinor’s interest in the Astoria Gateway for Renewable Energy (AGRE) site, and Equinor will potentially take over bp’s interest in the South Brooklyn Marine Terminal (SBMT), subject to certain conditions. In the past, bp and Equinor jointly owned 50% of the Beacon and Empire offshore wind projects. Now, they’ll independently develop their own […] - https://lnkd.in/dRZAeHdV #windenergy #windturbines #offshorewind #windturbine #cleanenergy #climatechange #sustainability #energynews #smartenergy #windfarm #windindustry #renewableenergy #renewables #bp #equinor #northamerica #offshorewind #renewableenergy #usa #windturbines

New York offshore wind projects face global tussle for turbines. The recent article by Eduardo Garcia sheds light on the ambitious offshore wind projects in New York and the significant supply chain challenges they face. While offshore wind is often touted as a green solution, there are critical factors that highlight its complexities and potential drawbacks: **Supply Chain Strain:** The global demand for offshore wind turbines has outpaced supply, leading to significant delays and increased costs. As the article notes, New York's projects were derailed when GE Vernova could not fulfill its promise to provide 18 MW turbines, underscoring the volatility in the supply chain. This issue is not isolated to New York but is a global problem affecting the entire offshore wind industry . **Economic Viability:** The high costs associated with offshore wind projects raise questions about their long-term economic sustainability. According to the Institute for Energy Research, offshore wind is substantially more expensive than onshore wind and other renewable sources, primarily due to the complexities of installation and maintenance at sea . **Environmental and Reliability Concerns:** While offshore wind reduces greenhouse gas emissions, its environmental impact on marine ecosystems is significant. Studies have shown that the construction and operation of offshore wind farms can disrupt marine life and habitats . Moreover, wind energy's intermittent nature requires backup solutions, often fossil fuels, to ensure a stable energy supply, thus complicating its green credentials . New York's ongoing efforts to secure reliable turbine supplies and streamline the procurement process are commendable, but it's crucial to address these broader issues to ensure a truly sustainable and economical energy transition. **Sources:** 1. Garcia, E. (2024). "New York offshore wind projects face global tussle for turbines." *Reuters*. 2. Institute for Energy Research. "Economic Challenges of Offshore Wind." 3. *Conservation Biology*. "Impact of Offshore Wind Farms on Marine Life." Let's ensure our push for renewable energy is both environmentally sustainable and economically viable. NYSERDA Ørsted Eversource Energy Kiewit AECOM OffshoreWind Avangrid Renewables Avangrid

Offshore wind energy a £12 billion a year UK investment opportunity 👇 Speaking at the 2024 Celtic Sea FLOW (Floating Offshore Wind) summit held at the Eden Project, Britain’s premier bio-sustainability showcase at St Austell in Cornwall, Offshore Energies UK director Katy Heidenreich outlined how OEUK members are building 13GW of the government’s production target of 55GW of wind energy by 2030, and the need to pull together investors and businesses with the capacity to make this ambitious energy production target a reality. Katy said 🗣️“There will be a lot more offshore wind capacity towards the end of the decade and into the next, some of this driven by licences in the Celtic Sea, which will offer a huge economic boost to the Southwest of England and Wales. We have an energy supply chain with over 50 years of expertise in delivering large scale oil and gas capital projects, and a workforce that will be vital to delivering our ambitious offshore wind programme across the whole of the UK. This upcoming wave of new energy investments is a strategic opportunity for the oil and gas supply chain to diversify its revenue streams, enhance its capabilities, and extend its reach into international markets. However, none of this is a given. All requires huge investment – by 2030, an average £12bn per year will be needed. Industry and government must come together to build a detailed investment plan to scale up UK supply chain and make it competitive while benefitting the regions. An industrial strategy across the energy sector is needed to deliver 2030 net zero power and 2050 net zero and provide sustainable growth for UK plc.” Read More ➡️https://ow.ly/RMRj50TAegY

Amazon Books Over Half of Moray West Offshore Wind Capacity to Power UK Operations Amazon has signed a corporate power purchase agreement (CPPA) for a total of 473 MW of Moray West offshore wind farm’s generation capacity to help power its operations when the project becomes operational later this year. The technology giant signed the CPPA with ENGIE, which owns the Moray West project through Ocean Winds, the 50-50 joint venture between ENGIE and EDP Renewables. The 473 MW Amazon secured through the agreement is enough to power the equivalent of more than 650,000 UK homes annually and is more than half of the total installed capacity of the 882 MW Moray West offshore wind farm. The project already has 100 MW of its generation capacity reserved since 2022, when Google entered into a twelve-year corporate power purchase agreement with ENGIE for Moray West. Located in the Moray Firth in northeast Scotland, the offshore wind farm is currently under construction, with foundation installation underway. Moray West will comprise 60 Siemens Gamesa 14.7 MW wind turbines and is scheduled to generate power in 2024 and be fully operational in 2025.  Ocean Winds says it is following an accelerated development and construction plan, with capacity from the site supporting Amazon’s goal of powering all operations with 100 percent renewable energy by 2025, five years ahead of the company’s original target. According to a press release from the Moray West developer, Amazon’s investment in solar and wind projects has led the company to become Europe’s and the UK’s largest corporate purchaser of renewable energy. Last year, the technology company entered into a collaboration agreement with Iberdrola, which also involves power purchases from two of Iberdrola’s offshore wind farms in Germany, Baltic Eagle and Windanker. In 2020, Amazon signed a ten-year CPPA with Ørsted to offtake the output of 250 MW from the 900 MW Borkum Riffgrund 3 offshore wind farm in Germany and increased the reserved capacity by a further 100 MW the following year. #PPA #offshorewind https://lnkd.in/gJbBF5US

Empire Energy Offshore Congratulates Iberdrola on Securing 791 MW New England Wind 1 Project through its U.S. subsidiary Avangrid—for winning a major 791 MW contract to develop the New England Wind 1 offshore wind farm. This project is another step forwad for renewable energy in the U.S. and a powerful leap forward for offshore wind on the East Coast. Set to provide clean, emission-free energy to 400,000 homes, New England Wind 1 will play a key role in driving the energy transition while slashing greenhouse gas emissions equivalent to removing 300,000 gasoline-based cars from the road annually. As part of the project, Iberdrola will also invest $3 billion into the region’s economy, creating more than 4,400 full-time jobs and sparking the development of key infrastructure like a world-class marshalling port in Salem and a new offshore wind manufacturing hub in New Bedford, Massachusetts. “Offshore wind is at the heart of America’s energy future,” said Mike M., Senior Director of Offshore at Empire Energy Offshore. “Iberdrola’s New England Wind 1 contract is a testament to the critical role the U.S. is playing in the global offshore wind revolution—and we’re proud to stand alongside industry leaders who are pushing forward these landmark developments.” This monumental project will begin construction in 2025 and aims to reach full commercial operation by 2029, driving job creation, bolstering local economies, and supporting Massachusetts’ climate goals. Positioned next to Vineyard Wind 1—the nation’s first large-scale offshore wind farm—New England Wind 1 further cements the region’s status as a national leader in renewable energy. As the U.S. offshore wind sector expands, we at Empire Energy Offshore are excited to witness the transformation and stand ready to support the clean energy transition that will power future generations. #OffshoreWind #CleanEnergy #NewEnglandWind1 #Iberdrola #Avangrid #EmpireEnergyOffshore #Renewables #EnergyTransition #GreenEconomy https://lnkd.in/eWd8eMb2

Japan’s Largest Offshore Wind Farm Now Online By Darrell Proctor || POWER magazine JERA, the largest power generation company in Japan, said the 112-MW Ishikari Bay New Port offshore wind farm has entered commercial operation. The utility, along with Green Power Investment Corp. (GPI), JERA’s partner in the project, announced the installation was commissioned on Jan. 1. Ishikari Bay is now Japan’s largest offshore wind park. The site features 14 SG 8.0-167 DD turbines manufactured by Siemens Gamesa Renewable Energy, and is the first wind power facility in Japan to use turbines of that 8-MW size. The turbines are certified to withstand both typhoon-force winds and seismic activity, a common occurrence in Japan. The wind farm is located off the west coast of the northern Japanese island of Hokkaido. The project also incorporates 180 MWh of battery energy storage capacity at the project’s transformer substation. Power is then sent to Hokkaido Electric Power Network’s (HEPN’s) Nishi Sapporo Substation. HEPN has a 20-year agreement to purchase the wind farm’s electricity. JERA in a Jan. 4 news release said, “Bringing the project to completion was possible because of the tremendous cooperation and understanding extended by regional communities and government administrations including Hokkaido Prefecture, Ishikari City, and Otaru City during the project’s development and construction. “JERA and GPI are committed to envisioning the region’s future together through the promotion of renewable energy projects. Going forward, we plan to work together with the people of Ishikari City, Otaru City, and the region to ensure both stable management of the project and regional development.” GPI is a former Japanese affiliate of U.S. energy developer Pattern Energy Group, which sold GPI to JERA and NTT Anode Energy Corp last year. GPI is a Japanese developer, owner, and operator of renewable energy assets. A joint venture between Shimizu Corp. and Nippon Steel Engineering was responsible for offshore construction of the wind farm, and Kajima Corp. did the project’s onshore work. Other Offshore Wind Projects A JERA-led group also announced it was among the winners in Japan’s second offshore wind tender, the results of which were announced in December. Japan’s industry and land ministries picked three groups that could develop and operate offshore wind farms, as the country works to have at least 10 GW of offshore wind generation capacity in the queue by 2030, and as much as 45 GW of capacity in development by 2040. JERA, as part of a consortium including Itochu, Tohoku Electric Power, and J-Power, was awarded rights to build a 315-MW wind farm off the coast of Oga-Katagami-Akita in Akita prefecture in northern Japan. A group including Mitsui & Co., Germany’s RWE, and Osaka Gas is set to build a 684-MW wind farm off the coast of Murakami-Tainai in... Full article: https://lnkd.in/dS8sgWSX #engineering #energy #renewable #powergeneration #maintenance