Gazelle Wind Power (Gazelle), the developer of a next-generation floating offshore wind platform, and Tugdock, developers of the world’s first road-transportable floating dry dock known as the Tugdock Submersible Platform, have signed a Memorandum of Understanding to co-develop a modular offshore wind assembly system, that is expected to dramatically drive down costs and increase production of floating offshore wind farms.
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Oceantic Network, a leading organization working to advance offshore wind and other ocean renewable industries and their supply chains, announces the opening of the Offshore Wind Experience Hub. Based in Maryland and funded by a grant from the Maryland Energy Administration (MEA), the Hub is designed to raise public awareness of and provide education about offshore wind renewable energy.
Offshore Wind's Economic Doldrums
Today's key economic doldrums plaguing offshore wind projects are higher interest rates, cost inflation, and supply chain issues. Developers make multiyear cost assumptions when bidding for projects, given the often decade-long lead times associated with planning and development, obtaining approvals, and completing construction, before an offshore wind project becomes operational and starts generating cash returns.
Crowley and Carbon Ridge Inc, a leading developer of modular onboard carbon capture and storage solutions (OCCS), with support from the U.S. Maritime Administration (MARAD) Maritime Environmental and Technical Assistance (META) program, have initiated an advanced, pilot project to reduce emissions impacts using Crowley’s Storm international container ship.
International green energy company Ignitis Renewables and Copenhagen Infrastructure Partners (CIP) through its Growth Markets Fund II are the winners of the auction-based competitive tender for development of an offshore wind farm in the Liivi 2 sea area in Estonia, having placed the highest bid in the amount of EUR 1.7 million.
The Department of the Interior has announced the proposal of an offshore wind lease sale in the Central Atlantic. The announcement is part of the Administration’s latest actions to expand offshore wind opportunities, building on investments made by the President’s Investing in America agenda and creating good-paying jobs for American workers.
DEME and Greek renewable energy developer and independent power producer FARIA Renewables have signed a cooperation agreement to explore opportunities and co-develop offshore wind farms in Greece. Recognising the unique potential for growth in the offshore wind industry in the Mediterranean Sea and the evolving market, both companies aim to play a significant role in the region.