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Search resuls for: "Denmark’s Orsted"


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☆ Britain solves half of its wind power problem
  + stars: | 2023-11-16 | by ( George Hay | ) www.reuters.com   time to read: +4 min
REUTERS/Andrew Boyers Acquire Licensing RightsLONDON, Nov 16 (Reuters Breakingviews) - Maybe UK wind isn’t a busted flush after all. Britain needs 50 gigawatts (GW) of offshore wind by 2030, against 14 GW completed now and around 13 GW in development. It will also increase by 52% for floating offshore wind projects, from 116 pounds per MWh to 176 pounds per MWh. In AR6, offshore wind will also be given a separate funding pot in recognition of the high number of projects ready to participate. The UK aims to deliver 50 gigawatts (GW) of offshore wind by 2030, including up to 5 GW of floating offshore wind.
Persons: Andrew Boyers, Sweden’s Vattenfall, Jefferies, Denmark’s, LCPDelta, Neil Unmack, Streisand Neto Organizations: REUTERS, Reuters, Jefferies, Grantham Research, Thomson Locations: Watchfield, Swindon, Britain, British
☆ Alstom takes the direct route to lower credibility
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Gonzalo Fuentes Acquire Licensing RightsLONDON, Nov 15 (Reuters Breakingviews) - Alstom’s (ALSO.PA) problems are piling up. Alstom’s headaches, which include an inventory build-up, project delays and an order slowdown, haven’t materially changed. But to retain its investment grade credit rating the group needs to slash net debt that has jumped 50% to 3.4 billion euros since March. But as Denmark’s Orsted (ORSTED.CO) has found, the only thing investors dislike more than operational upheaval is a message that constantly changes. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Gonzalo Fuentes, Henri Poupart, Lafarge, George Hay, taints, Lisa Jucca, Oliver Taslic Organizations: Alstom, REUTERS, Reuters, Caisse, X, Thomson Locations: Saint, Ouen, Paris, France
☆ Germany Backs Loans to Siemens Energy for Green Projects in $16 Billion Rescue Package
  + stars: | 2023-11-14 | by ( Melissa Eddy | Stanley Reed | More About Melissa Eddy | ) www.nytimes.com   time to read: +2 min
Siemens Energy is a key player in Germany’s energy transition and employs some 26,000 people in the country. The company’s difficulties have served as a warning that financial problems weighing on makers of renewable energy equipment could be growing more severe. Siemens Energy is the parent company of Siemens Gamesa, one of the world’s leading wind turbine makers. What Happens Next: Siemens Energy opens its books. On Wednesday, Siemens Energy will announce its earnings for the fiscal year that ended on Sept. 30.
Persons: Chancellor Olaf Scholz, Siemens Gamesa, Denmark’s Orsted Organizations: Siemens Energy, Germany, Siemens, Air Liquide Locations: Berlin, French, Denmark, Spain, New Jersey, United States, Frankfurt
☆ Orsted’s losing US bets need rethink of UK plans
  + stars: | 2023-11-01 | by ( Yawen Chen | ) www.reuters.com   time to read: +4 min
Turbulent news has buffeted the wind sector of late, from faulty turbines at Siemens Energy (ENR1n.DE) to Orsted’s own surprise impairments in August. After that surprise – largely caused by suppliers’ issues – Orsted’s stock price is just a fifth of its 2021 peak of 1,350 Danish crowns. That suggests investors are neither counting on future growth from its U.S. portfolio nor sufficiently factoring in Orsted’s earnings from operating projects. That’s a far cry from the annual average increase of 14% from 2023 onwards implied by Orsted’s EBITDA target of up to 55 billion Danish crowns in 2030. Hornsea Three would require capital investments of 48.5 billion Danish crowns, according to Bernstein.
Persons: Mads Nipper, Nipper, Orsted, Bernstein, Orsted’s, Francesco Guerrera, Oliver Taslic Organizations: Reuters, Siemens Energy, Reuters Graphics Reuters, U.S ., Thomson Locations: SINGAPORE, United States, New Jersey, Danish, U.S . East Coast
☆ UK is in danger of becoming the Nigeria of wind
  + stars: | 2023-07-20 | by ( George Hay | ) www.reuters.com   time to read: +3 min
LONDON, July 20 (Reuters Breakingviews) - Britain is supposed to be the Saudi Arabia of wind power. Vattenfall’s decision on Thursday to halt the 1.4 gigawatt (GW) Norfolk Boreas project is just the latest sign that Britain’s most appropriate fossil-fuel comparator may not be the biggest and most efficient producer. Vattenfall, a state-held Swedish power company, has gone cool for reasons that are well-discussed in the wind sector. The obvious move for UK Prime Minister Rishi Sunak would be to allow developers to charge more for power, to make up for higher costs. Follow @gfhay on TwitterCONTEXT NEWSVattenfall is stopping the development of its 1.4 gigawatt (GW) Norfolk Boreas offshore wind project off the coast of Britain, the state-owned Swedish utility said on July 20.
Persons: Boris Johnson’s, Vattenfall, Rishi Sunak, Liam Proud, Oliver Taslic Organizations: Reuters, Siemens, UK, FTI, Norfolk, Thomson Locations: Britain, Saudi Arabia, United Kingdom, Riyadh, Norfolk Boreas, Swedish, Norfolk, Orsted, Nigeria
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