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☆ Governments take action to keep offshore wind projects on track
▼ + stars: | 2023-12-05 | by ( Susanna Twidale | ) www.reuters.com time to read: +6 min

[1/2] Scroby Sands offshore wind farm can be seen off of the coast at Great Yarmouth, Britain, October 24, 2018. Investors told Reuters governments have since shown willingness to pay higher prices, helping to restore confidence in the future of the industry. Britain's last auction in September failed to attract any offshore wind projects, with developers saying the guaranteed price on offer was too low. Britain's Octopus launched a dedicated fund with Japan's Tokyo Gas (9531.T) to invest 3 billion pounds ($3.7 billion) in offshore wind projects by 2030. Soeren Lassen, head of offshore wind Research at WoodMac said more than 50 GW of offshore wind tenders globally are planned for 2024.

Persons: Chris Radburn, ”, Jonathan Cole, Corio's Cole, Keith Anderson, Anderson, Marc Hedin, Nathalie Gerl, Germany's RWE, Soeren Lassen, WoodMac, Susanna Twidale, Nichola Groom, Scott DiSavino, Simon Webb, Jane Merriman Organizations: REUTERS, Governments, Investors, Corio Generation, Power, New York, Energy, New York State Energy Research, Development Authority, Aurora Energy Research, Research, Ireland, Aurora, Gas, Thomson Locations: Great Yarmouth, Britain, U.S, New York State, China

☆ South Korean President to Meet UK PM Sunak for State Visit Talks
▼ + stars: | 2023-11-22 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

LONDON (Reuters) - South Korean President Yoon Suk Yeol will meet British Prime Minister Rishi Sunak for talks on Wednesday and sign an agreement stepping up cooperation in defence, security and technology. Yoon, on a state visit to London, and Sunak will sign a Downing Street Accord which will also involve them working together on enforcing U.N. sanctions on reclusive North Korea. A conservative, Yoon has cited a "polycrisis" of global challenges as a reason for seeking closer ties with like-minded partners. South Korea on Wednesday suspended part of a 2018 military agreement with North Korea after it defied warnings from the United States and launched a spy satellite. The suspension of a clause in the agreement will see South Korea step up military surveillance along the heavily fortified border with the North.

Persons: Yoon Suk, Rishi Sunak, Yoon, King Charles, Buckingham, Charles, BLACKPINK, Alistair Smout, Joyce Lee, Nick Macfie Organizations: British, Downing, Accord, Ministers, Corio Generation, BP, Guard Locations: London, North Korea, South Korea, Buckingham, Korea, United States, Seoul

☆ New York throws support behind offshore wind with three project awards
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

The announcement, which the state billed as the nation's largest ever investment in offshore wind, comes less than two weeks after New York regulators rejected requests by three offshore wind developers to renegotiate their contracts because of soaring costs. In response, Governor Kathy Hochul pledged to support renewable energy projects to meet the state's climate change goals. The Biden administration, which has made offshore wind development a cornerstone of its plan to decarbonize the nation's power grid, applauded the move. New York is also committing $300 million to the development of offshore wind component manufacturing facilities planned by GE Vernova (GE.N). New York Offshore Wind Alliance Director Fred Zalcman said the announcement "will go a long way towards instilling confidence in a market that has recently faced tremendous headwinds."

Persons: Kathy Hochul, France's TotalEnergies, Germany's, Hochul, Biden, John Podesta, Fred Zalcman, Nichola Groom, Bill Berkrot, Jonathan Oatis Organizations: New York, Denmark's, Denmark's Copenhagen Infrastructure Partners, White House, Power, Corio, Grid, Excelsior, GE Vernova, Offshore Wind Alliance, Thomson Locations: New, York, Denmark's Copenhagen, New York, America, RWE, . New

SEASIDE HEIGHTS, N.J. (AP) — A proposed wind energy project off New Jersey would be among the farthest from land on the East Coast, the New York-based development company said Monday. Wind power developers have struggled to make progress, however, due to supply chain issues, higher interest rates, and a failure so far to garner enough tax credits from the federal government. Orsted, the Danish wind energy company, would build its first project about 13 to 15 miles off the coast of Atlantic City and Ocean City. “Offshore wind development makes no sense from either an environmental or economic standpoint,” he said. It is pursuing another offshore wind project in New York about 50 miles south of Jones Beach.

Persons: —, Damian Bednarz, ”, “, Bednarz, Orsted, Robin Shaffer, ___, Wayne Parry Organizations: Energy, Associated Press, Community, Grid, Office, New, New Jersey Wind, Corio, Twitter Locations: N.J, New Jersey, East Coast, New York, Seaside, East, Chicago, Long, Essen, Germany, Atlantic City, Ocean City, Coast NJ, Paulsboro, Jones Beach, Houston, Boston, London, www.twitter.com

[1/2] Hywind Tampen floating wind farm structures are being assembled at the Wergeland Base in Gulen, Norway, June 7, 2022. But by 2035, the LCOE for floating wind is expected to fall to about 60 euros/MWh. It plans to set a specific target for floating wind this year. Britain aims to have 5 GW of floating wind installed by 2030 but a report by the UK Floating Wind Offshore Wind Taskforce, said 34 GW could be installed by 2040 if ports were upgraded. "South Korea will be commercial the quickest," said Cole at Corio Generation, which has 1.5 GW of floating wind under development there.

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