Latest news with #EnBW
Reuters
13-05-2025
- Business
- Reuters
Germany's EnBW confirms 2025 outlook
FRANKFURT, May 13 (Reuters) - German utility EnBW on Tuesday confirmed its outlook after posting a 5% rise in first-quarter core profit, adding that a potential upcoming capital increase would enable it to fund additional investments of up to 10 billion euros ($11 billion) by 2030. Adjusted earnings before interest, tax, depreciation and amortisation are still seen at 4.8 billion to 5.3 billion euros in 2025, the company said. ($1 = 0.9015 euros)
Yahoo
12-05-2025
- Business
- Yahoo
North Star delivers first 'future-ready vessel' at naming ceremony
An offshore support specialist has officially named its first commissioning service operation vessel (CSOV). North Star named the Grampian Kestrel at a ceremony at the Vard Langsten shipyard in Tomrefjord, Norway, on Tuesday, May 6. The Grampian Kestrel is the first of two CSOVs to be delivered by North Star this year, as part of the firm's drive to support its growing portfolio of offshore wind clients. READ MORE: Construction begins on North Star SOV for European wind farm The new vessel, of VARD 4 22 design, will go on service with EnBW and precede the decade-long minimum charter contract the firm signed in 2024 to provide a service operation vessel (SOV) for the German energy utility firm's He Dreiht wind farm in the North Sea. 'The Grampian Kestrel marks yet another milestone in our strategy towards making North Star a leading SOV provider in Europe,' said Gitte Gard Talmo, CEO at North Star, which has offices in Lowestoft, Aberdeen, Newcastle and Hamburg. 'The vessel is built to service all aspects of an offshore windfarms' lifecycle and has a competent North Star crew to ensure we deliver our services to the highest standard. 'We are proud to christen this future-ready vessel, which sets a new industry benchmark by becoming the world's first to achieve Lloyd's Register's Cyber Resilience classification. 'This certification underscores our commitment to being a safe and reliable partner – for our employees, our clients and the broader offshore wind industry.' The Grampian Kestrel also offers essential accommodation and logistics to support construction and commissioning works. Following this, it will lead EnBW's operations and maintenance activities until the newbuild SOV is delivered in Q3 2026. READ MORE: How this 138-year-old firm is tackling a shortage of seafarers The VARD 4 22 design has been developed in close collaboration with Vard Design in Ålesund, Norway, with new methanol-ready hybrid-propulsion solutions and an increased number of single cabins, providing hotel-quality accommodation for the technicians working in field. It also includes a high-performance daughter craft with space for a second to suit the client's operational needs. James Bradford, chief technology officer at North Star, said: 'As part of its digital capabilities, North Star has made a substantial investment in the advanced automation and innovative solutions utilised across its renewables fleet, essential for monitoring performance and ensuring safe vessel operations. 'This included technologies such as digital twins, dynamic positioning software and the complex control systems connected to the Voith Schneider propulsion units – all designed to support operational safety and enhance crew wellbeing.' Ms Gard Talmo added: 'This vessel and her world-first accreditation were achieved in co-operation with VARD ship design. At North Star, we know that industry collaboration is the key to success – and we truly look forward to delivering our services to our client, EnBW.' READ MORE: Wind farm support vessel officially named in Lowestoft The Grampian Kestrel's naming ceremony was attended by representatives from North Star, VARD, EnBW and other key stakeholders. During the event, the godmother for the vessel was announced as Indu Vaidya, a board member at North Star and member of management at Partners Group, a private equity firm and North Star investor. Ms Vaidya played a key role in the naming ceremony, which also featured a local blessing. Godmother Indu Vaidya christening the Grampian Kestrel (Image: North Star) VARD CEO, Cathrine K. Marti added: 'On behalf of everyone at VARD, I would like to congratulate North Star on their new cutting-edge vessel. Grampian Kestrel is a purpose-built CSOV, designed by North Star to meet North Star's specific strategy and the demands of the offshore wind market. 'She is built for efficiency, comfort, and flexibility – and she is future-ready from day one. 'With key contributions from Vard Electro and Vard Interiors, this vessel reflects the strength of our integrated approach and our long-standing partnership with North Star. Congratulations once again. "We wish Grampian Kestrel and her crew fair winds and following seas.'
Observer
16-04-2025
- Business
- Observer
Oman, Netherlands JDA to create first liquid hydrogen corridor
Muscat: As part of the state visit of His Majesty Sultan Haitham bin Tarik to the Kingdom of the Netherlands, the Sultanate of Oman signed a landmark Joint Development Agreement (JDA) to establish the world's first commercial-scale liquid hydrogen corridor linking Oman to Europe. The project will enable the export of RFNBO-compliant liquid hydrogen from the Port of Duqm in Oman to the Port of Amsterdam in the Netherlands and the Port of Duisburg in Germany. The agreement brings together eleven entities from Oman, the Netherlands, and Germany, including Hydrom, Port of Duqm, Port of Duisport, EnBW, Tata Steel, Advanced Methanol Amsterdam, Hynetwork Services, and other key stakeholders. This agreement is a pivotal step in cementing Oman's position as a global hub for green hydrogen production and export, as well as a strategic partner in enhancing global energy security. Once fully developed, the corridor will serve as a direct export route for liquefied hydrogen compliant with the EU's Renewable Fuels of Non-Biological Origin (RFNBO) standards - from the Port of Duqm to the Port of Amsterdam, and onward to strategic logistics centres in Germany, including the Port of Duisburg, for further distribution to other European markets. Under the agreement, Hydrogen Oman (Hydrom), as the national coordinator for implementing Oman's green hydrogen strategy, will oversee production alignment with national plans and ensure the project's integration with the sector's infrastructure and overarching strategy.
Reuters
02-04-2025
- Business
- Reuters
VNG to start test operations of 30-MW electrolyser in Q3, 2025
FRANKFURT, April 2 (Reuters) - Eastern German gas company VNG, majority-owned by utility EnBW ( opens new tab, said on Wednesday it will start test operations at a 30 megawatts (MW) electrolysis plant in the third quarter of 2025 as the basis of a new green hydrogen value chain. VNG intensified a green gases strategy, along with alternative gas procurements, to replace former supplier Russia, which in 2022 turned off export taps to the West, hitting VNG's business as much as those of its big peers SEFE and Uniper ( opens new tab. "We have scheduled the commissioning and trial operation of the 30 MW electrolyser in the third quarter," said technical director Hans-Joachim Polk in a company statement. The plant, situated in Bad Lauchstaedt in Saxony-Anhalt state, will produce green hydrogen from power derived from local wind turbines and dedicated to the purpose of supplying the nearby Leuna chemicals and oil park with TotalEnergies ( opens new tab as VNG's anchor customer. When produced with renewable electricity through the electrolysis of water, rather than by stripping it from natural gas and releasing carbon dioxide, hydrogen is a greener fuel, as it leaves only water and oxygen as byproducts when burned. "The plant will subsequently feed 2,700 tonnes of green hydrogen annually into the grid, for delivery for commercial use to... TotalEnergies' refinery," Polk said. ($1 = 0.9268 euros)
Reuters
26-03-2025
- Business
- Reuters
EnBW expects core earnings to rise by up to 8% in 2025
FRANKFURT, March 26 (Reuters) - German utility EnBW ( opens new tab said on Wednesday core profit could increase by up to 8% this year, boosted by its energy grids that benefited from a rise in investments. The company also said it remained in talks with its top shareholders - the state of Baden-Wuerttemberg and local municipalities - about a capital increase of around 3 billion euros ($3.2 billion) to fund further growth. ($1 = 0.9251 euros)
