Offshore Wind: Shipbuilder Selected for Crowley, Esvagt JV SOV
Following the news on Wednesday that Crest Wind, a joint venture between Crowley and ESVAGT, is set to build a service operation vessel for operations in the U.S. offshore wind sector, the partners have now selected a shipbuilder for the SOV construction.Fincantieri Marine Group said Wednesday it had reached an agreement on a contract with CREST Wind to design and build a 288-ft. HAV 832 Service Operation Vessel (SOV).SOVs are purpose-built vessels used to transport technicians to service and sustain the operation of wind turbines at sea. Crowley is a U.S.
U.S. Offshore Wind Expansion: Here’s How Officials Decide Where Turbines May Go
The Biden administration has announced ambitious plans to scale up leasing for offshore wind energy projects along the Atlantic, Gulf, and Pacific coasts. In an announcement released on Oct. 13, 2021, the U.S. Department of the Interior stated that it will “use the best available science as well as knowledge from ocean users and other stakeholders to minimize conflict with existing uses and marine life.” University of Massachusetts Boston public policy scholar David W. Cash, who worked at senior levels in state government for a decade…
U.S. Clean Energy Sector Seeks Subsidies to Keep Projects Moving
Wind and solar energy companies on Thursday called on Congress to pass tax incentives that would help the sector avoid project delays and keep financing flowing amid a pandemic that has choked off supply chains and slowed construction.In a letter to House and Senate leadership, seven clean energy trade groups asked lawmakers to extend deadlines that would allow their projects to qualify for generous wind and solar federal tax credits despite delays caused by the spread of the coronavirus across the globe.The American Wind Energy Association…
US Extends Offshore Wind Tax Credit
The American Wind Energy Association (AWEA) issued a statement in support of two bills introduced in the U.S. Senate this week, which would both extend the federal Investment Tax Credit (ITC) for offshore wind energy.The legislation comes at a critical time for offshore wind in America, as energy developers prepare to start construction on the first wave of large-scale projects.The Offshore Wind Incentives for New Development Act introduced by Senators Markey (D-MA), Whitehouse (D-RI), and Congressman Jim Langevin (RI-02), as well as the Incentivizing Offshore Wind Power Act introduced by Senators Carper (D-DE) and Collins (R-ME) would…
Global Clean Energy Investments Fall Again
Clean Energy Pipeline, the online daily financial news and data service dedicated to the clean energy sector, released its preliminary analysis of venture capital, private equity, project finance, mergers and acquisitions and public markets activity during 4Q13 and 2013. New investment in the global clean energy sector totalled $58.2 billion in 4Q13, a 15% increase on the $50.7 billion invested in 3Q13 but a 21% decrease on the $74.1 billion recorded in the corresponding period in 2012. Despite the quarterly increase, total investment throughout 2013 decreased 20% year-on-year to $212 billion. Total investment in the global clean energy sector has now fallen for two consecutive years.
Georgiopoulos Launches Green Maritime Partners
Peter C. Georgiopoulos launched Green Maritime Partners, LLC (GMP), a private equity fund targeting environmentally sustainable investments within the maritime and clean energy sectors. “Environmental reform in the maritime industry is becoming a critical issue. GMP also intends to fund promising projects in the clean energy area outside of the maritime industry. I am proud to be part of this important initiative,” said Georgiopoulos, Founder and Chairman, Green Maritime Partners. GMP will combine investment professionals with advisory teams in the maritime and clean energy sectors. In the maritime industry, Green Maritime Partners’ will fund businesses dedicated to emissions reduction, energy efficiency, environmental remediation and other sensitive issues.
