New Energy Solutions News

Shell has made the final investment decision for Holland Hydrogen I, which, when completed in 2025, will be Europe's largest renewable hydrogen plant. The plant will be powered by electricity produced from an offshore wind farm in the Dutch section of the North Sea.Shell said Wednesday that the200MW electrolyser would be built on the Tweede Maasvlakte in the port of Rotterdam and will produce up to 60,000 kilograms of renewable hydrogen per day.The renewable  power for the electrolyser will come from the offshore wind farm  Hollandse Kust (noord)…

Singapore's Keppel Offshore & Marine, a company famous for its offshore rig construction, is set to undergo a major transformation, look for opportunities as a developer and integrator of offshore energy and infrastructure assets, and exit the offshore rig building business.The company will be restructured into three parts, separating construction and ownership of legacy drilling rig assets from its core operations, "which will be slimmer, asset-light and people-light.""Keppel Corporation announced today that amidst the global energy transition and major disruptions facing the oil industry…

Equinor and SSE have announced a financial close on the first two phases of the world's largest offshore wind farm project - the Dogger Bank in the UK North Sea.Dogger Bank wind farm is a joint venture between SSE Renewables, who are leading the construction of the offshore wind farm, and Equinor, who will operate the 3.6GW project during its lifetime of at least 25-years. When completed, Dogger Bank will be the world’s largest offshore wind farm.The overall wind farm is being built in three 1.2GW phases; Dogger Bank A, Dogger Bank B, and Dogger Bank C.

Norwegian oil company Equinor has successfully sent a drone carrying a 3D-printed cargo from shore to an offshore production platform in the North Sea in what the company says is a world's first.In a flight spanning around 80 kilometers from the Mongstad base onshore to the Troll field in the North Sea offshore Norway, the drone carried a 3D-printed part for the lifeboat system. The flight took one hour, at an altitude of approx. 5000 feet, or 1524 meters."The flight was a test…

The Norwegian oil and gas major Equinor ASA said it has completed the purchase of a 50% stake in the Baltyk I offshore wind project (OWP) in Poland from Polenergia.The Bałtyk 1 offshore location license allows for a development of a wind farm with a capacity up to 1560MW. Equinor will own up to 780MW.Norwegian company now has an interest in all three Bałtyk offshore wind development projects (MFW Bałtyk III, MFW Bałtyk II i MFW Bałtyk I.).The acquisition of Baltyk I strengthens our presence in the Baltic Sea area. With interest in all three - Baltyk I, II and III projects, we have the opportunity to build scale and value in what we see as an important energy region…

Ireland-based energy company Electricity Supply Board (ESB) and Norwegian energy company Equinor plan to jointly develop offshore wind sites and enter them into the country's renewable energy auctions from the mid-2020s.The partnership will work to identify suitable sites for new offshore windfarms in Irish waters and work to mature potential future wind projects. The potential for energy storage technology and other technologies to complement offshore wind operations will also be examined. It is the ambition of the partnership to explore opportunities for large scale wind projects towards commercial operation by 2030, thus contributing to the wider goals of the Irish Government on energy transition.Furthermore…

Chinese power giant China Power International Holding (CPIH) and Norwegian energy firm Equinor have inked a memorandum of understanding (MoU) to cooperate on offshore wind projects off China and Europe.“China is rapidly increasing its use of renewables and natural gas. The country is set to become the world’s biggest offshore wind market by 2030. As an offshore wind major, Equinor is excited to collaborate with CPIH to develop offshore wind” says executive vice president New Energy Solutions, Pål Eitrheim.“CPIH, as a leading power generator in China, has been striving to develop its international strategy to become a pioneer of reliable energy provider worldwide.

Israel-based renewable energy projects developer Enlight Renewable Energy (ERE) along with its Serbian partner New Energy Solutions has officially opened its Kovacica windfarm in Serbia.The opening ceremony of the Wind farm was held in the municipality of Kovacica in the presence of the Minister of Mining and Energy Aleksandar Antic, Alona Fisher-Kamm the Ambassador of  Israel, the Representatives of the owners,  ERE, and its Serbian partner, New Energy Solutions.Kovacica clean power plant operates with 38 installed wind turbines, with the total power of 104,5 megawatts.The farm shall be producing clean electric energy for over 68,000 households…

Norwegian multinational energy company Equinor ASA and Argentine power producer YPF Luz have joined for the development of the Cañadón León wind farm in Santa Cruz in Argentina.As per agreement, a subsidiary of Equinor will subscribe to shares in Luz del León. The shareholders of YPF Luz are YPF S.A and an affiliate of General Electric.The agreement establishes that Equinor will have a 50% stake of Luz del León, with an equity contribution of USD 30 million. After the subscription and capital integration, YPF Luz and Equinor will jointly control Luz del León, while YPF Luz will be in charge of the operations of the Cañadón León Wind Farm project.After the completion of the works…

Danish energy trading company Danske Commodities signed a 20-year Power Purchase Agreement (PPA) with the world’s first floating wind farm, Hywind Scotland.Hywind Scotland, the world's first commercial-scale floating wind farm, was officially opened in October 2017. Norwegian oil and gas group Equinor owns 75%, while its partner the Abu Dhabi Future Energy Company, better known as Masdar, holds 25%. As the sole offtaker, Danske Commodities will take over balancing and trading of Hywind Scotland’s total volume of 30 MW. The wind farm, which is located 30 km off the coast of Scotland, powers around 20,000 households.“The agreement with Hywind Scotland marks a new chapter for Danske Commodities.

Norwegian oil and gas major Equinor, formerly Statoil, is acquiring the Danish energy trading company, Danske Commodities for EUR 400 million (USD 470 mln). "Equinor has reached agreement to buy 100% of the shares in Danish energy trading company Danske Commodities (DC) for EUR 400 million, with smaller contingent payments depending on DC’s performance over the next couple of years," said a press release from the company. This acquisition – of one of Europe’s largest short-term electricity traders – supports Equinor’s development towards becoming a broad energy company. DC is also active in short-term gas trading and provides energy market services. DC was founded in 2004 and is based in Aarhus, Denmark, with 284 employees.

Shareholders in Norway's largest company, Statoil, will approve on Tuesday the board's proposal to drop "oil" from its name as its seeks to diversify its business and attract young talent concerned about fossil fuels' impact on climate change.From Wednesday, the majority state-owned company will change its 46-year-old name to Equinor and trade on the Oslo Exchange under the new ticker EQNR.The Norwegian government, which has a 67 percent stake in the firm, has said it will back…

Rebranding would cost up to $32.5 mln but firm plans to ramp up renewables investment. Norway's Statoil plans to change its name to Equinor, reflecting its commitment to become a broad energy company rather than one focused only on oil, it said on Thursday. In a video posted on social media, Statoil presented the switch as a way to show its determination to develop investments in renewable energy. Reactions by various social media users were mixed. "Equinor sounds like a princess on a horse in Game of Thrones," one Twitter user said. "Equi" is the genitive singular in Latin for "horse". Others liked the change. "Congratulations on an exciting name change. The green shift is happening faster and faster. Norway must be a part of it.

The world's first offshore floating wind farm has started to deliver electricity to the Scottish grid, providing power to approximately 20,000 households. The 30MW Hywind Scotland wind farm, operated by Statoil in partnership with Masdar 25 kilometers offshore Peterhead in Aberdeenshire, Scotland, was officially opened today by First Minister of Scotland, Nicola Sturgeon. “This marks an exciting development for renewable energy in Scotland,” First Minister Sturgeon said. “The learnings from Hywind Scotland will pave the way for new global market opportunities for floating offshore wind energy.

Just days after Deepwater Wind said its Block Island Wind Farm has begun delivering electricity into the New England region’s grid, Statoil reports that it has been declared the provisional winner of the U.S. government’s wind lease sale of 79,350 acres offshore New York. Statoil will now have the opportunity to explore the potential development of an offshore wind farm to provide New York City and Long Island with a significant, long-term source of renewable electricity. Statoil submitted a winning bid of $42,469,725 during the online offshore wind auction concluded by the U.S. Department of the Interior's Bureau of Ocean Energy Management (BOEM).

Statoil today enters the German offshore wind market, through a 50% acquisition of the Arkona offshore wind farm. Statoil and E.ON also announced the final investment decision on the 385 megawatt project. The estimated total investment for the project will be in excess of EUR 1.2 billion. The Arkona wind farm will provide renewable energy for up to 400,000 households in Germany, making it one of the largest ongoing offshore wind developments in Europe. “We are pleased to announce our decision to develop this significant offshore wind project together with E.ON. This investment is in line with our strategy to gradually complement our oil and gas portfolio with profitable renewable energy and other low-carbon solutions,” says Eldar Sætre, Statoil’s president and CEO.

Sweden's Vattenfall expects to be able to build offshore wind power projects, one of the most expensive sources of renewable energy, without subsidies by the middle of the next decade, a senior company official said on Thursday. The state-owned utility plans to boost its wind power portfolio in Europe to 4 gigawatts (GW), equivalent to four nuclear reactors, by 2020 from the current installed 1.8 GW, and further to 7 GW by 2025. "We should be able to build onshore wind power projects by 2020 without subsidy, and we also expect that we could build offshore wind power without subsidy by 2025, but that would depend on the projects," Michael Simmelsgaard, head of Vattenfall's strategic projects in wind, told a conference.

A new battery storage solution for offshore wind energy will be piloted in the world’s first floating wind farm, the Hywind pilot park off the coast of Peterhead in Aberdeenshire, Scotland. Batwind will be developed in co-operation with Scottish universities and suppliers, under a new Memorandum of Understanding (MoU) signed in Edinburgh on 18 March between Statoil, the Scottish Government, the Offshore Renewable Energy (ORE) Catapult and Scottish Enterprise. Battery storage has the potential to mitigate intermittency and optimise output. This can improve efficiency and lower costs for offshore wind. The pilot in Scotland will provide a technological and commercial foundation for the implementation of Batwind in full-scale offshore wind farms…

Statoil appoints new chief financial officer (CFO), and launches business area for New Energy Solutions (NES). Three new executive vice presidents (EVPs) are appointed as members of the corporate executive committee (CEC). CFO Torgrim Reitan is appointed EVP for Development & Production USA (DPUSA) after Bill Maloney decided to not prolong his contract with Statoil. Hans Jakob Hegge is appointed new EVP and CFO. Hegge comes from the position as senior vice president for Operations North in Development & Production Norway. Irene Rummelhoff is appointed EVP for New Energy Solutions, and Jens Økland new EVP for Marketing, Midstream & Processing (MMP). Rummelhoff and Økland start in their new positions 1 June 2015. Reitan and Hegge will start in their new positions 1 August 2015.

Statoil delivered Adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported Net income in accordance with IFRS of NOK 10.1 billion, including gains from divestments. "In the second quarter, Statoil delivered encouraging operational performance with good production growth and high regularity, whilst continuing to reduce cost. Our financial results were characterised by gains from divestments and lower prices. Also in the second quarter, we report a close to neutral free cash flow after dividend and proceeds", says president and CEO of Statoil ASA, Eldar Sætre. Adjusted earnings were NOK 22.4 billion in the second quarter compared to NOK 32.3 billion in the same period in 2014.

Ballast water treatment (BWT) specialist Optimarin has been chosen by Norwegian Car Carriers AS (NOCC) as the supplier of choice for its two newbuild vessels currently under construction at Hyundai Samho Heavy Industries in South Korea. Optimarin will provide 667m³/h capacity systems for the state-of-the-art 6500 car capacity Pure Car Truck Carrier (PCTC) sister ships, which are scheduled for delivery in late 2016 and early 2017. Optimarin CEO Tore Andersen says his firm’s established track record, in what is still a young industry, played a key role in securing this latest contract. “We’ve been exclusively focused on producing simple, reliable and flexible BWT solutions since our formation in 1994,” Andersen comments.

Statoil has made the final investment decision to build the world’s first floating wind farm: The Hywind pilot park offshore Peterhead in Aberdeenshire, Scotland. The decision triggers investments of around NOK 2 billion, realizing a 60-70 percent cost reduction per MW from the Hywind demo project in Norway. Statoil will install a 30 MW wind turbine farm on floating structures at Buchan Deep, 25 kilometers offshore Peterhead, harnessing Scottish wind resources to provide renewable energy to the mainland. The wind farm will power around 20,000 households. Production start is expected in late 2017. “Our objective with the Hywind pilot park is to demonstrate the feasibility of future commercial, utility-scale floating wind farms.

MacGregor, part of Cargotec, has won an order for substructure connection mooring systems for the world's first floating offshore wind farm: Statoil's Hywind pilot park in Scotland. MacGregor will be responsible for the delivery of the Pusnes substructure mooring connection system for the pilot project's five floating wind turbines. Delivery of equipment is planned from the second through the fourth quarter of 2016 and installation of the wind turbines is scheduled for 2017. "This contract represents a step change for MacGregor in terms of entering a new industry sector," says Jan Martin Grindheim, Director, Sales and Business Development, MacGregor Offshore Mooring Systems. "The project hinges on applying proven technology in new applications.