Latest news with #ScottUrquhart
CTV News
17 hours ago
- Business
- CTV News
Donald Trump's disdain for wind energy could create windfall for Nova Scotia: experts
The West Pubnico Point Wind Farm is seen in Lower West Pubnico, N.S. on August 9, 2021. THE CANADIAN PRESS/Andrew Vaughan HALIFAX — U.S. President Donald Trump's opposition to renewable energy could create a 'golden opportunity' for Nova Scotia's fledgling offshore wind energy industry, a leading international consulting firm says. Aegir Insights, based in Denmark, recently presented a webinar that examined Premier Tim Houston's 10-year plan to license enough offshore turbines to produce 40 gigawatts of electricity. Even though the province requires only 2.4 GW, Houston's Wind West plan calls for selling excess power to the rest of Canada and, potentially, the United States. Experts say such a project would require construction of about 4,000 offshore turbines that would generate as much electricity as China's offshore turbines produced last year. Scott Urquhart, co-founder and CEO of Aegir Insights, said Wind West has grabbed the attention of the global offshore wind industry. 'The vision is to get Nova Scotia on the radar of big international investors,' Urquhart said Tuesday in an interview from Copenhagen. 'If the big players saw only a one gigawatt ambition, they won't show up.' During last week's webinar, which attracted about 100 project developers, investors and government officials, Urquhart described Wind West as 'grand and ambitious,' but said it is underpinned by 'rational market fundamentals and economics.' Founded in 2020, Aegir Insights describes itself as an intelligence provider that offers analytics and models for those investing in the offshore wind sector. Its database of projects spans 60 markets. Though he is based in Copenhagen, Urquhart has taken a keen interest in Wind West, having grown up in Cape Breton. He told the webinar that the offshore wind industry has been hurt by rising costs and supply chain issues in recent years, but he said the industry appears poised for a recovery as interest rates fall and supply chain competition heats up. Signe Sorensen, Aegir's regional lead in the Americas, said these encouraging trends have been overshadowed in the United States by Trump's decision to place a hold on offshore projects that have already received permits. 'Even as the global sector looks to be on the road to recovery, the U.S. is on a completely different path,' Sorensen told the webinar. 'And that matters a lot to Canada. One state's challenge could be another state's opportunity.' In January, Trump announced he would halt leasing for wind projects while fast-tracking plans for more oil and gas production. That move has led to layoffs and stalled construction of wind turbines, which account for 10 per cent of U.S. electricity production — the largest source of renewable energy. Earlier this month, Trump doubled down on his opposition to wind power. 'The windmills are killing our country,' he said on June 12. 'The fields are littered with them — junk .... It's the greatest scam in history, the most expensive energy you can buy.' Sorensen said the New England states and New York have been leading development of the offshore wind sector in the U.S., but Trump's opposition could stall the industry for the next four years. 'They need to find renewable sources to supply this energy,' Sorensen said. 'That's where large-scale Canadian wind could come into the picture, specifically Wind West .... There's a golden opportunity in this for Canada.' Urquhart agreed. 'On the U.S. side, you just had a hole blown in the offshore wind sector and you have a whole bunch of supply chain people and developers who are standing around saying, 'Oh, no,'' he said in an interview. 'Now is the time to put your visionary ideas out. If you were to wait on something like this, you'll miss a window of opportunity.' During his online presentation, Urquhart showed a colour-coded 'heat map' highlighting areas off Nova Scotia's coast where offshore wind development would be feasible. 'There are huge areas that could do tens-of-gigawatts of offshore wind,' he said, pointing to the sprawling, shallow banks around Sable Island and a long stretch closer to Nova Scotia's southern shoreline. 'There are several highly prospective locations.' As well, Sorensen pointed to charts showing the New England states and New York are willing to pay top dollar for offshore wind energy. 'Nova Scotia could be competitive, pricewise,' she said. This report by The Canadian Press was first published June 25, 2025. Michael MacDonald, The Canadian Press
Daily Record
29-05-2025
- Business
- Daily Record
Finance chiefs at NHS Forth Valley table cuts plan to tackle £38m funding gap
Forth Valley health chiefs are battling to bridge a funding gap. Finance chiefs have drawn up a rigorous programme of cuts within NHS Forth Valley to address a £38m funding gap for 2025-26 as the board aim to break even next year. The moves were confirmed on Tuesday by NHS Director of Finance Scott Urquhart. He said: 'The 2025/26 Financial Position Based on current financial planning assumptions, together with the impact of recurring pressures and unachieved recurring savings carried forward from 2024-25, a funding gap before savings of £38m (4.9 per cent of our recurring baseline budget) has been identified for 2025-26. 'A range of cost improvement plans and efficiency initiatives have been developed to mitigate the £38.0m gap with an aim to achieve break-even. 'Implementation of the overall savings plan is being overseen by the Financial Stewardship Group and regular progress updates will be provided to the Strategic Planning, Performance & Resources Committee and the NHS Board during the course of the year. 'The Scottish Government have approved our financial plan for 2025-26 and have acknowledged the level of savings required.' The board will continue to work closely with Scottish Government colleagues as part of the forthcoming Service Renewal Framework and to support a shift in resources towards prevention and digital enablement as we work towards a more financially sustainable system. A £2.2m revenue overspend is reported for the first month of the 2024-25 financial year. This is of concern at this early stage in the year and prompt corrective action is required to address this in the first quarter. Financial implications are continuing in this position, a number of outstanding revenue allocations have been anticipated and included in the month one budgets pending confirmation from the Scottish Government. 'In the meantime, an overspend of £2.2m is reported against the budget for the month of April. The vast majority of this reflects significant pressures in the Acute Services Directorate, particularly in relation to medical pay costs which are overspent by £1.1m and unregistered nurse pay costs which are overspent by £0.3m at this early stage in the year. 'Pressures are also reported against drugs costs (£700,000 overspent, mainly within oncology), unachieved historic savings targets from prior years (£614,000) together with overspends against equipment (£100,000) and surgical sundry budgets (£100,00). Among the overspends in the first month of the financial year are: £2,954m in Acute Services and £608,000 in Women and Children's Services. A small number of savings totalling £3m have still to be identified at this stage.
Yahoo
12-02-2025
- Business
- Yahoo
Aegir Insights' new integrated platform for bankable offshore wind intelligence receives notable interest
Aegir Insights, a leader in offshore wind intelligence, unveils its integrated platform, powered by Quant technology, to transform decision-making across the offshore wind value chain The platform combines high-quality data, advanced analytics, and simulation software to empower developers, suppliers, governments, financial institutions, and advisors to make better investment decisions, faster By enabling data-driven decisions and optimizing capital allocation, Aegir Insights empowers industry professionals to de-risk projects, navigate cost volatility, and achieve robust project economics COPENHAGEN, Denmark, February 12, 2025--(BUSINESS WIRE)--Aegir Insights proudly unveils their cutting-edge platform designed to revolutionize decision-making across the offshore wind value chain. Powered by Quant technology, Aegir integrates data, advanced analytics, industry-leading intelligence, and modeling software, enabling developers, suppliers, governments, financial institutions and advisors to confidently navigate the evolving renewable energy landscape. Addressing the challenges of offshore wind expansion Offshore wind power is one of the fastest-growing segments in clean energy investment. According to the International Renewable Energy Agency (IRENA)'s latest World Energy Transition Outlook (2023), global offshore wind capacity must grow from today's 64 GW to 494 GW by 2030 and an ambitious 2,465 GW by 2050 to meet energy transition targets. However, offshore wind projects today have long development timelines that can span up to 10 years with complex decision processes and risks. Thus, high-quality data and simulation capabilities offer profound value by increasing the likelihood of successful outcomes when deploying billions of dollars in individual projects. In this complex and high-stakes environment, Aegir Insights delivers essential solutions to optimize development, reduce costs, and accelerate investments. By enabling data-driven decisions and ensuring optimal capital allocation, Aegir empowers industry professionals to navigate cost volatility and achieve robust project economics. "Offshore wind is a critical pillar of the global energy transition, but achieving scale requires smarter, faster, and more collaborative solutions," said Scott Urquhart, CEO, Aegir Insights. "Aegir was built to address this need, helping developers, suppliers, government agencies, financial institutions and advisors overcome barriers and seize opportunities in this dynamic sector." Built for the offshore wind ecosystem by experienced industry professionals Aegir Insights brings together a suite of tools tailored to the diverse needs of developers, suppliers, government agencies and financial stakeholders: Data & Analytics: Gain access to an unparalleled database of global offshore wind projects across 60+ markets. Continuously updated and rigorously vetted, this resource equips users to make informed decisions with confidence. Intelligence: Stay informed with expert insights into commercial, regulatory, and market developments, enabling stakeholders to identify opportunities and mitigate risks in the fast-evolving landscape. Aegir Quant Software: Conduct rapid, precise commercial analysis at project and portfolio levels. This powerful modeling solution delivers actionable insights to optimize investments and streamline decision-making. Accelerating growth across key segments Aegir Insights already serves leading developers, suppliers, government agencies, financial institutions and advisors and is rapidly expanding its client reach. The platform also addresses critical needs within the supplier ecosystem, where optimizing supply chains and reducing cost uncertainties are essential to ensuring timely project delivery. "Aegir Insights is a game changer for the industry, providing instant access to expert-driven intel. With the platform, our team can focus on development instead of data gathering. It keeps us ahead of trends and empowers Skyborn to make confident, data-driven decisions," said Casper Thorhauge, SVP Americas, Skyborn Renewables. Unparalleled user experience Purpose-built to match the workflows of industry professionals, the new platform offers an intuitive interface, dynamic visualizations, and interactive mapping tools. The platform's user-centric design simplifies access to critical insights, helping teams collaborate effectively and deliver results faster. "Aegir's platform is a highly efficient tool for deep dives into specific offshore wind projects and portfolios. It is very user-friendly with an intuitive interface that makes it easy to extract and analyze data quickly and effectively" said Jakob Falk Andersen, Platform Director, Vattenfall. "We use Aegir to supplement our internal tools and to obtain a broader industrial benchmark; here, Aegir's skilled team delivers excellent services adding even more value to the experience." The gold standard in offshore wind decision-making As the offshore wind sector and broader renewable energy sector continues to develop, Aegir establishes itself as the premier partner for developers, suppliers, government agencies and financial stakeholders. By delivering bankable intelligence, the platform ensures optimal capital allocation, risk mitigation, and project success in the renewable energy transition. About Aegir Insights Aegir Insights delivers bankable intelligence for offshore wind decision-making. Aegir Insights serves a global client base across corporate, financial, suppliers and governmental segments, with product coverage across more than 60 offshore wind markets. Aegir Insights leverages data science and deep industry experience to help global renewable players make smarter decisions. Aegir's integrated platform, powered by Quant technology, delivers real-time data, analytics, software and intelligence to optimize offshore wind decision-making. With deep industry expertise, Aegir provides the insights you need to succeed in the evolving renewables energy landscape. View source version on Contacts Media contact: Sarah HäringMedia Manager, Aegir InsightsEmail: Phone number: +45 24 21 25 48. Business Development contact: Matthew DelanyVice President - Business Development, Aegir InsightsEmail: Phone number: +45 93 93 65 24 Sign in to access your portfolio
