Latest news with #offshoreWind
Reuters
2 days ago
- Business
- Reuters
Britain needs record offshore wind auction to meet targets, says Siemens Energy
HULL, England, June 3 (Reuters) - Britain's next renewable energy auction must secure a record amount of new offshore wind capacity if the country is to meet its 2030 clean power targets, Darren Davidson, vice president of turbine maker Siemens Energy UK&I, told Reuters. The country has put offshore wind at the heart of its plans to decarbonise its electricity sector by 2030. It aims to boost capacity to 43-50 gigawatts (GW) by the end of the decade, from around 15 GW at present, although a government report in November said it would be a challenge to reach that goal. Britain holds annual auctions for renewable subsidies, offering a guaranteed minimum price for the electricity produced to help spur investment in new projects. Last year's auction, AR6, offered 1.5 billion pounds ($2.03 billion) in funding, with just over 5 gigawatts (GW) of offshore wind capacity winning contracts. "To keep on track with (clean power 2030) targets, we estimate AR7 will need to clear a record 6 GW of offshore wind capacity," Davidson said. The largest amount of offshore wind capacity awarded contracts in auctions to-date was 5.46 GW in AR3 in 2019. Davidson was talking at Siemens Gamesa's turbine factory in Hull, northeast England, last week. Siemens Gamesa, which is Siemens Energy's ( opens new tab wind power business, has installed 10 GW of offshore wind turbines round the coast of Britain. The Hull factory opened in 2016 and employs over 1,400 people, with 600 new employees recruited over the past 12 months as the site more than doubled its manufacturing capacity. "The last five years have really proven that when we've got that visible pipeline of projects it allows us a greater ability to invest," Davidson said. It is currently manufacturing 300 blades, each one longer than a football pitch at 108 metres (354 ft) long, for 100 turbines at RWE's Sofia wind farm off the coast of Britain. It will start producing blades for Scottish Power's East Anglia Three project this summer. ($1 = 0.7401 pounds)
Bloomberg
23-05-2025
- Business
- Bloomberg
New York's Pipeline Bargain Will Move the Fight to Massachusetts
New York Governor Kathy Hochul appears to have struck a deal with President Donald Trump offering support for a new natural gas pipeline in return for lifting his blockage of an offshore wind-power project. In doing so, Hochul may have shifted Trump's crosshairs over to Boston. Trump announced his desire for new gas pipelines in New England in one of his many energy-related executive orders earlier this year. In practice, that means bringing gas from Appalachia through New York by reviving previously proposed pipelines that were blocked by state opposition, such as the Constitution Pipeline targeting the Hudson Valley or the Northeast Supply Enhancement project into Long Island.
Wall Street Journal
09-05-2025
- Business
- Wall Street Journal
Macquarie to Wait Out Volatility Before Divesting More Renewables
SYDNEY—Australian financial giant Macquarie is aiming to wait out current market volatility before divesting any more renewable-energy assets. Macquarie's asset-management arm lifted annual profit 33% in the group's last fiscal year, divesting offshore wind farm stakes in the U.K. and Taiwan in that period.
BBC News
07-05-2025
- Business
- BBC News
Decision day for Saunton Sands electricity cable plans
Decision day for beach electricity cable plans Developers want to bring an electricity cable from an offshore wind farm onshore at Saunton Sands A decision is due to be taken on controversial plans to bring an electricity cable from an offshore wind farm onshore at a Devon beauty spot. White Cross offshore windfarm has applied to put seven floating turbines about 30 miles (52km) off the north Devon coast and wants to bring a power cable onshore at Saunton Sands, then under Braunton Burrows and across the Taw Estuary to connect to a new electricity substation. North Devon Council planning officers have recommended the scheme for approval and White Cross said the project would create jobs in north Devon and provide thousands of homes with renewable energy. More than 1,800 people have objected to the cable plans.
