James C.’s Post

A huge and exciting milestone for Føn Energy Services and C-Ventus Offshore Windfarm Services BV , and another step towards our ambition of being a leading service provider in offshore wind.

🌊Offshore Wind M&A: Enerdatics Analyzes 9 GW of Assets Poised for Purchase Across Europe Enerdatics has analyzed over 9 GW of offshore wind assets poised for M&A across Europe. Here are the key trends: --🛢️ O&G Majors Streamline: Companies like Shell and bp are scaling back on costly renewables, prompting anticipated asset sales across Europe. Shell has already pulled out of projects in the US and South Korea, while bp restructured its US offshore wind JV. At Enerdatics, we predict similar sell-downs of greenfield developments in Europe. --⚡ Utilities Farm Down: Utilities such as Iberdrola and ESB are offloading stakes in de-risked assets to fund massive new investments, unlocking capital for multi-billion-dollar projects and bolstering their growth strategies. -- 💼 Private Equity Cashes In: As PE firms near the end of their 5-7 year holding periods, they’re seizing the opportunity to market de-risked, under-development, and mid-life operational assets—fueling the next wave of M&A in the sector. At Enerdatics, we track these shifts to deliver actionable insights for our clients. Stay in touch if you want more of these analyses! 🚀 #OffshoreWind #RenewableEnergy #MA #EnergyTransition #SustainableInvesting #Utilities #PrivateEquity #AssetRotation #EnergySector #GreenEnergy

Equinor ASA has acquired 9.8% of Ørsted A/S, making it the second largest shareholder after the Danish State. This counter-cyclical investment aligns with Equinor's renewable energy growth strategy. CEO Anders Opedal emphasized the complementary nature of Ørsted’s portfolio of operating offshore wind assets with Equinor’s projects under development. Despite challenges in the offshore wind sector, Equinor remains optimistic about its long-term potential in the energy transition. Ørsted has 10.4 GW of net renewable generation capacity and aims to reach 35-38 GW by 2030. Equinor’s current stake, valued at around USD 2.5 billion, was built through market purchases and a block trade. Subject to regulatory approvals, Equinor plans to increase its holding to 10%, but has no intentions of expanding beyond that. The transaction fits within Equinor's financial framework Check more here- https://lnkd.in/gNBmZxxa #progresstoexcellence #saoperations #industryupdates #equinor #Ørsted #share #holding #owf #energyindustry #energy

🤝 Orsted Divests French Onshore Renewable Ventures, Exiting Market Within Two Years of Entry In a pivotal decision, Ørsted has signed an agreement with ENGIE to divest its French onshore wind and solar operations, including OSTWIND International and OSTWIND Engineering. The deal, set to finalize in the second quarter of 2024, will see Orsted completely withdrawing from the French market. 💼 Current Portfolio Details: -- Active Projects: Operating 54 MW. -- Under Construction: 24 MW. -- Development Pipeline: Ongoing expansion of additional projects. This exit comes less than two years after Orsted acquired the French and German onshore platforms from OSTWIND AG in Jul '22. Meanwhile, the German operations have been successfully integrated into the main business and remain a key focus within Orsted’s European strategy. ♟️ Strategic Refocus: -- Following a net loss of over €2.7bn, Orsted is sharpening its focus on select markets with higher potential returns. -- The strategic shift emphasizes core areas: the UK, Ireland, Germany, and Spain. This divestiture aligns with Orsted’s broader business strategy to optimize its asset portfolio and strengthen financial performance, targeting regions that offer the most substantial growth opportunities in the renewable energy sector. #Orsted #ENGIE #RenewableEnergy #WindEnergy #SolarPower #SustainableInvesting #EnergySector #MarketExit #EuropeanEnergy

“Shell sells out of US offshore wind venture” Adis Ajdin - March 21, 2024 “Shell has sold its 50% stake in SouthCoast Wind Energy, established to develop wind projects off the coast of Massachusetts, to joint venture partner Ocean Winds.” “SouthCoast Wind is developing a proposed #offshorewindfarm about 30 miles south of Martha’s Vineyard and 23 miles south of Nantucket with an approximate capacity of 2.4 GW.” “Formerly named Mayflower Wind Energy, this joint venture with Ocean Winds, another jv between France’s Engie and Portuguese electric utilities company EDP, was established in 2018.” “Shell said the sale was structured to be effective immediately without disclosing financial details surrounding the deal.” “In 2023, there was a delay in the development of #offshorewindfarms due to increased borrowing costs, supply chain disruptions, and rising inflation. Danish #offshorewind giant Ørsted halted the development of two US projects, while Equinor and BP terminated their deal to sell Empire Wind 2 power to New York State and went their separate ways on US offshore wind projects.” https://lnkd.in/e6F9je9D? Source- original post Read all my posts #MariusPreston

𝗗𝘂𝘁𝗰𝗵 𝗰𝗼𝗺𝗽𝗮𝗻𝘆 𝗠𝗮𝗿𝗶𝗻𝗲 𝗖𝗼𝗼𝗿𝗱𝗶𝗻𝗮𝘁𝗶𝗼𝗻 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗮𝗰𝗾𝘂𝗶𝗿𝗲𝗱 𝗯𝘆 𝗢𝗘𝗚 OEG Energy Group Limited (OEG), an #offshore solutions business, has acquired HHWE member Marine Coordination Services B.V. (MCS), a Dutch specialist provider of #marinecoordination and offshore project services based on the isle of Terschelling, for an undisclosed consideration. #MCS has established itself as a strategic partner for blue-chip clients within the European #offshoreenergy sector providing a range of specialist marine coordination services. Some of the projects MCS was involved with, include the Dutch offshore/nearshore projects Hollandse Kust Noord and Windplanblauw. MCS will join the OEG Renewables division, further expanding OEG’s marine coordination capabilities and opening new market opportunities to offer integrated service solutions in the European offshore #windsector building upon MCS’s existing strong industry relationships. Read the full article via the link below. #RenewableEnergy #EnergyTransition #OffshoreWind #OffshoreWindEnergy #WindEnergy #WindPower #WindFarm

𝕋𝕙𝕖 𝔹𝕣𝕖𝕖𝕫𝕪 𝔹𝕦𝕝𝕝𝕖𝕥𝕚𝕟 - 𝟚.𝟙𝟜.𝟚𝟜 🍃 🔌 📰 𝗘𝘃𝗲𝗿𝘀𝗼𝘂𝗿𝗰𝗲 𝘁𝗼 𝗢𝗳𝗳𝗹𝗼𝗮𝗱 𝗦𝘁𝗮𝗸𝗲 𝗶𝗻 𝗧𝘄𝗼 𝗨𝗦 𝗢𝗳𝗳𝘀𝗵𝗼𝗿𝗲 𝗪𝗶𝗻𝗱 𝗣𝗿𝗼𝗷𝗲𝗰𝘁𝘀 𝗳𝗼𝗿 𝗨𝗦𝗗 𝟭.𝟭 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 Eversource Energy has executed a definitive agreement to sell its 50 per cent stake in two US offshore wind projects, South Fork Wind and Revolution Wind, to Global Infrastructure Partners (GIP), nearing closer to its goal of exiting the offshore wind industry. The transaction allows Eversource to realise approximately USD 1.1 billion of cash proceeds upon closing and to exit these projects, which it owns jointly with Ørsted while retaining certain cost-sharing obligations for the construction of the 704 MW Revolution Wind offshore wind farm. “We continue to believe that offshore wind represents the most significant opportunity to decarbonize the electric generation footprint of New England,” said Joe Nolan, Eversource Energy Chairman, President, and Chief Executive Officer. “Eversource will remain an integral player in this historic shift to a clean energy generation mix by focusing on our strengths as a regulated transmission builder and operator and bringing the benefits of these investments to our customers.” Ørsted’s 50 percent ownership interests are not affected by today’s announcement, said Eversource. The company is expected to enter into a separate construction management agreement as a contractor to Revolution Wind to complete the onshore work that is currently underway. Eversource will maintain its previously announced tax equity investment in the 132 MW South Fork Wind. The deal is expected to close in mid-2024. At or before the closing of the sale to GIP, Ørsted and GIP plan to enter into definitive partnerships and services agreements, according to Eversource. “This acquisition marks our fourth strategic joint venture with Ørsted, further solidifying our strong partnership with leading industry players. The South Fork Wind and Revolution Wind projects benefit from long-term offtake agreements and play a pivotal role in addressing the increasing demand for clean electricity,” said Bayo Ogunlesi, GIP’s Chairman and Chief Executive Officer. #thebreezybulletin #orsted #eversourceenergy #usoffshorewind #offshorewind #lsprenewables #rebeccatherecruiter Rebecca Macmillan

Singapore-based Cyan Renewables has pledged to invest US$1 billion in Australia's burgeoning offshore wind industry, following the acquisition of Australian marine services provider MMA Offshore Limited. This significant development, as reported by Sophie Vorrath for RenewEconomy, marks the region's largest private acquisition in the offshore wind services sector. The federal government's recent issuance of feasibility licences for developers in Victoria's Gippsland zone is bringing Australia closer to establishing its first offshore wind farms. Cyan Renewables, established in 2022, aims to invest in a specialised fleet of wind farm support vessels, facilitating the full lifecycle of offshore wind projects from installation to operations and maintenance. "The acquisition of MMA is a significant milestone for our future as a leader in the renewable energy space," said Cyan CEO Keng Lin Lee 李庆仁. This move strengthens Cyan’s position in the Asia-Pacific region, combining its expertise with MMA’s fleet of 20 offshore vessels to overcome supply chain challenges in Australia. David Ross, Managing Director of MMA, highlighted that joining the Cyan Group will accelerate MMA's progress towards achieving net zero goals in the maritime industry. "Cyan’s expertise in offshore wind farms and investment capability will foster innovation and operational excellence, accelerating the energy transition," Ross stated. This transformative deal, supported by investors like the Alberta Investment Management Corporation (AIMCo), positions Cyan as a crucial catalyst in the "blue-to-green" transition of the maritime industry. Ben Hawkins of AIMCo noted that Cyan is strategically positioned to benefit from the growing offshore wind and marine protection sectors. #renewableenergy #offshorewind #sustainability #singapore #energytransition #apac #innovation #australia #evoegy

🌊 Historic First Offshore Wind Lease Sale in the Gulf of Maine! 🌬️ The Biden-Harris administration has achieved a major milestone with its first commercial lease sale for floating offshore wind in the Gulf of Maine. The sale resulted in $21.9M in winning bids across four lease areas: - Avangrid Renewables secured two leases (OCS-564 & OCS-568), covering 223,462 acres, winning bids totaling $11.17M. -Invenergy NE Offshore Wind won two leases (OCS-562 & OCS-567), covering 215,634 acres, winning bids totaling $10.78M. Together, these areas could power 2.3M+ homes with clean energy. This effort aligns with the administration’s ambitious goals of 30 GW by 2030 and 15 GW of floating wind by 2035. Leases include commitments to workforce training and $2.7M each for supply chain development and fisheries compensation. #OffshoreWind #CleanEnergy #GulfofMaine #RenewableEnergy

Breaking News in Offshore Wind: Equinor Makes a Bold Move! Here's the latest news since the Offshore magazine story I referenced in my LinkedIn post about Equinor's strategic withdrawals from certain offshore wind markets: https://lnkd.in/get9pRwS Equinor is acquiring a 9.8% stake in Ørsted, becoming its second-largest shareholder. Here's why this is big news: 🔑 Key Points: • Equinor now owns 41,197,344 shares in Ørsted • This makes Equinor the largest shareholder after the Danish State • The stake is valued at approximately $2.5 billion 🤔 What Does This Mean? 1. Strategic Pivot: Equinor is doubling down on offshore wind, but through a different approach 2. Long-term Confidence: Despite current industry challenges, Equinor sees a bright future for offshore wind 3. Complementary Portfolios: Ørsted's operating assets balance Equinor's development-heavy portfolio 4. Industry Consolidation: This move could signal a trend of major players joining forces 💡 Equinor's CEO, Anders Opedal, stated: "This is a counter-cyclical investment in a leading developer, and a premium portfolio of operating offshore wind assets." 👀 Looking Ahead: • Equinor plans to increase its stake to 10%, subject to regulatory approval • The company supports Ørsted's current strategy and management • This move aligns with Equinor's strategy of value-driven growth in renewables 🌐 Industry Implications: • Could we see more strategic investments or collaborations between major players? • How will this affect the competitive landscape in offshore wind? • Might this lead to more resilient project development in the face of economic challenges? How do you think it will shape the future of offshore wind in the US and elsewhere? #OffshoreWind #RenewableEnergy #Equinor #Ørsted #EnergyTransition #StrategicInvestment #cSolutions Here's the official announcement: https://lnkd.in/geSHaacw