Gigawatt-scale scale projects ought to be a given in Germany's coming offshore wind tender, says Ørsted, which on Wednesday takes the decision to develop one of the world's first unsubsidized offshore wind farms.
As a part of a landmark infrastructure plan, the EU Commission earmarks around EUR 30bn for a new power network. The investment supports one of several projects in what Ursula von der Leyen compares to the union's climate policy flagship -- just on a global level.
Just as in 2019 and 2020, TSO Svenska Kraftnät has applied for exemption from the EU rule requiring 70 percent open transmission capacity in transnational interconnectors. Countertrading is the only solution, says Danish lobby.
Climate demonstrators gather in Glasgow calling for urgent action as the UN climate summit ends its first week, which saw a string of announcements and pledges made. Despite some progress in setting direction, a lot remains to be achieved, with several of the world's biggest polluters still not quite on board.
After the Norwegian Supreme Court's October ruling declared Europe's largest onshore wind farm's license invalid, Statkraft is still waiting for clarification on whether the wind turbines installed at Roan and Storheia will be allowed to remain in place.
State subsidies and risk hedging are keeping a lid on cash flow from record-high electricity prices at Ørsted, which, on the other hand, books tidy earnings made from its gas contracts with Gazprom. Meanwhile and with a heavy heart, the utility's CFO notes coal money leaving a positive mark on company accounts.
Primary operations in the offshore wind business enters deficit, with wind in general only just kept afloat by onshore. The real rescue, however, comes from the company's electricity and, not least of all, gas sales.
ATP has long been moving in a climate friendly direction, but had not set concrete goals, says CEO Bo Foged. Now, however, the goal has been set, and the pension company has a huge task ahead when it comes to characterizing firms based on international standards.
Chilean public authorities have alloted land and issued a permit for the Norwegian utility's first greenfield project in the South American country consisting of both wind turbines and battery-based power storage.