EnergyWatch

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Vestas plans 1:5 equity split by end of H1

Whereas it's quite true that one little feather may swell till it becomes five fowls, or at least in an iconic Danish fairy tale, Vestas is now planning to pull off the same ratio in an equity split.

Germany to pay utilities EUR 2.4bn for nuclear exit

The federal republic has agreed to pay compensation to energy companies operating domestic atomic power stations following the country's policy shift to phase out the contentious energy source in the wake of the Fukushima Dai-Ichi meltdowns.

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Total criticized for handling of dangerous gas leak

Safety should have been better, and communications seemed random during last year's highly dangerous gas leak on the Tyra platform in the Danish North Sea, concludes Denmark's Accident Investigation Board for Offshore Oil and Gas Activities. Operator Total pledges improvements to procedures and practices.

Hofor looks to invest billions and capture millions of tonnes of CO2

The utility serving metropolitan Copenhagen could power up a carbon capture and storage facility five years after getting the go-ahead. The investment required for the undertaking is huge, but so is the reduction potential, says Charlotte Søndergren, Head of Department at Hofor.

Uniper presents "outstanding" annual report

The German utility can be pleased with itself for having succeeded in getting its adjusted profit to grow despite sliding revenue. Omitting adjustments, though, paints a rather different picture.

Fredriksen's Seadrill books a deficit of almost USD 5bn

Drilling company Seadrill started 2021 with a deficit four times the size of that in 2019. The strained company continues to be in talks about a comprehensive rescue plan and still awaits approval of its Chapter 11 petition.

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Fortum invests in dam safety in Sweden

The Finnish utility will make a substantial investment in dam security in Sweden with plans for an extensive rebuild of the more than 100-year-old hydropower plant in Forshuvud.

Valaris gets rescue plan approved

Valaris receives the court's approval for its rescue plan. With comprehensive support from both bond holders and banks, the rescue plan means that the crisis-stricken drilling company expects to leave Chapter 11 early in the second quarter.

Bladt ventures 3,000 tonnes out onto thin ice

We must not be responsible for limiting the growth of offshore wind, the steel contractor's CEO says about investing in producing monopiles one and half time larger than current specs. The steps taken are cautious ones, however.

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