Tag: Ørsted

Ørsted purchases Eversource stake in US offshore wind JV for $625 million

Ørsted, the Danish energy giant, has agreed to pay $625 million for Eversource Energy’s 50 per cent ownership in the two companies’ uncontracted federal offshore wind lease joint venture. The agreement also includes contracts and partnerships that are critical to operating assets. The deal is expected to close in the third quarter of 2023 after receiving regulatory approval

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Ørsted, PGE select contract engineer for Baltica offshore wind farm

Baltica Offshore Wind Farm developers PGE and Ørsted have formalised the partnership for the offshore wind project’s land connection, which includes Biuro Studiów, Projektów i Realizacji (EnergoprojektKatowice) and Energopomiar. According to the agreement, the consortium will oversee the general contractor’s work as an investor as the line and station portions of the onshore connection are being built. According to the timeline, Baltica Offshore Wind Farm’s phases, including Baltica 2 (1.5 GW) and Baltica 3 (1 GW), will be launched by the end of this decade.

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Ørsted and Eversource submit proposal for 884 MW offshore wind farm

Ørsted and Eversource Energy have submitted a combined proposal to build the Revolution Wind II offshore wind farm in Rhode Island, US. The proposal for the 884 MW wind project was filed in response to the state’s offshore wind solicitation. If permitted, the Revolution Wind II wind farm will provide enough sustainable energy to power over 500,000 Rhode Island homes

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Ørsted to acquire PSEG’s equity share in Ocean Wind 1

Ørsted, a Danish energy company, has agreed to acquire PSEG’s (Public Service Enterprise Group) 25 per cent equity stake in the Ocean Wind I offshore wind project in the US. The 1.1 GW offshore project, which is located about 24 km from southern New Jersey, will now be 100 per cent owned by Ørsted as part of the agreement. No financial details have been disclosed. 

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Ørsted plans 15 GW of offshore capacity in Sweden

Ørsted has requested permission for building offshore wind projects in Swedish waters with a total capacity of 15 GW. This capacity is planned to be developed near Sweden’s southern tip and the Gulf of Bothnia in the north, and can be brought online in the next ten years. With the additional capacity, Ørsted hopes to lower power costs and encourage the growth of new green industries. Ørsted’s ongoing plan for 3 GW of renewable energy capacity in Sweden is complemented with the most recent plan.

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Ørsted and Skovgaard Energy join forces for Power-to-X

Ørsted and Skovgaard Energy, a Danish renewable energy developer, have signed a letter of intent to cooperate on the development of a Power-to-X facility in one of Denmark’s most attractive sites. The facility will be constructed in stages and can, thus, play a crucial part in both the construction of a large-scale renewable hydrogen export industry for the green transformation of Europe as well as in the launch of the Danish Power-to-X industry.

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Ørsted sells 50 per cent stake in US renewable energy portfolio

Ørsted, a Danish energy provider, has sold a 50 per cent stake in an 862 MW renewable portfolio in the US to Energy Capital Partners (ECP) for around $410 million. The portfolio includes the solar power plant Muscle Shoals as well as the onshore wind farms Lincoln Land Wind, Plum Creek Wind, and Willow Creek Wind.

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Nexans to supply subsea cable for Revolution Wind Farm in the US

To supply subsea cable for the revolution wind farm in the US, Ørsted and Eversource have contracted with the French cable supplier Nexans. Nexans has now secured the contract for providing its export cable system to the 704 MW wind farm repeatedly. The first order for setting up and safeguarding the export cable link for the wind project was given to the company in March 2022. 

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Wood to offer design services for floating wind farms in Scotland

John Wood Group (Wood), a British engineering and consulting firm has been awarded the principal designer and pre-feed scope for Salamander, a 100 MW floating wind farm Scotland. Salamander, a joint venture between Simply Blue Group, Ørsted, and Subsea 7, is located 35 km from Peterhead on Scotland’s east coast. Wood will carry out system-level pre-front-end engineering design (FEED) in order to facilitate planning, costing, and risk assessment of a FEED design process.

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Cadeler secures contract for Hornsea 3 foundations

Ørsted has given a contract to engineering firm Cadeler to install turbine foundations at the Hornsea III offshore wind farm. Cadeler will utilise its F-Class vessel for the first time to place these foundations after Ørsted makes its final investment decision for the 2.8GW wind farm. The next generation of XL turbine foundations may be transported and installed using the F-Class vessel.

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Ørsted to acquire 100 per cent stake in Ostwind

Ørsted has agreed to acquire Ostwind, which includes a 100 per cent equity stake in OSTWINDpark Rotmainquelle, OSTWIND International, and OSTWIND Engineering. Ostwind develops, owns, and operates onshore wind and solar projects in Germany and France. OSTWIND Erneuerbare Energien, With the financial obligations of the projects and companies included, the agreement provides Ostwind an enterprise valuation of €689 million.

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Ørsted plans to develop renewable projects in Spain

Ørsted has finalised four partnerships to develop early-stage solar and onshore wind projects across Spain by participating in upcoming grid auctions. The company has signed partnerships with Glide Energy, Rolwind, ARBA Energías Renovables and Ereda. To support this strategy, Ørsted has established a team and an office in Madrid.

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ORIT to acquire stake in 270 MW offshore wind farm in UK

Octopus Renewables Infrastructure Trust (ORIT), a UK-based renewable investment firm, has agreed to acquire a 7.75 per cent stake in the Lincs offshore wind farm. Lincs, with a capacity of 270MW, is located offshore from England’s east coast and has been operational since 2013. The offshore wind facility, which spans 35 km sq, is equipped with 75 wind turbines, each with a 3.6MW capacity.

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Ørsted and partners to sign agreement for offshore site in Scotland

Ørsted, a Danish renewable energy company, has signed an option agreement with Falck Renewables and BlueFloat Energy to develop an offshore wind site off Scotland’s north-east coast. The companies signed the agreement with Crown Estate Scotland (CES). The deal comprises the construction of a floating wind farm with a capacity of up to 1 GW, which was secured in the latest ScotWind offshore wind leasing round.

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Greencoat Renewables acquires a 50 per cent stake in Borkum Riffgrund I

Greencoat Renewables, an Irish renewable investment firm, has agreed to purchase a 50 per cent stake in the 312 MW Borkum Riffgrund I offshore wind farm for $383 million in cash. Greencoat Renewables will acquire a 31.5 per cent share from Kirkbi and an 18.5 percent stake from William Demant Invest as part of the acquisition. Greencoat Renewable’s total installed capacity will increase to 993 MW as a result of the agreement.

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Ørsted and Maersk plan a Power-to-X-facility on the US Gulf Coast

Maersk, a global leader in integrated container logistics, and Ørsted, a global leader in renewable energy, have signed a letter of intent (LOI) to collaborate on a new Power-to-X facility in the US. This could be a landmark project in the green transformation of international deep-water shipping and set the bar for future large-scale production of green maritime fuels.

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Ørsted to stop procuring Russian biomass and coal

In response to Russia’s invasion of Ukraine, the Danish energy provider Ørsted has decided to stop sourcing biomass and coal from Russia for its power plants. The company has decided not to contract any Russian companies for its renewable energy projects because it finds the situation “deeply disturbing.” It has also stated that it will not enter into any new contracts with Russian enterprises and will ensure that no direct Ørsted suppliers for the development of renewable assets are Russian.

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