Renewables

The UK Government has announced a new £4.6 million support package for the UK’s islands, £3 million of which will be awarded to the Orkney-based European Marine Energy Centre (EMEC) over two years.

The Bureau of Ocean Energy Management (BOEM) has completed its environmental review of Beacon Wind’s proposal to test suction bucket foundations on its lease area offshore Massachusetts. Based on the analysis in the environmental assessment, BOEM determined that the proposed testing will not cause significant impacts to environmental resources. Suction bucket foundations are an alternative foundation type that allow for installation of turbines without the need for pile driving.

The ocean energy sector accelerated in 2023, according to the latest statistics released today by Ocean Energy Europe. Low market visibility in the past still impacts 2023 deployment figures but new revenue support at national level drastically changes the outlook. 137 MW of tidal and wave energy projects will seek deployment in the next 5 years thanks to EU funding and national revenue support. This prompted several energy majors to enter the field as investors or partners into projects and is kick-starting the sector’s industrialization.

Ocean Winds, an international company dedicated to offshore wind energy and created as a 50-50 joint venture by EDP Renewables and ENGIE, has been granted a feasibility license by the Australian Government for a 150 km2 area to develop an offshore wind farm in waters off Gippsland, Victoria. These clean energy projects, the first offshore wind ones in Australia, will play a key role in reaching Victoria’s targets of 95% of renewable energy by 2035 with at least 2 GW of offshore wind generation capacity by 2032, 4 GW by 2035 and 9 GW by 2040.

CIP, on behalf of its Flagship Funds, announced it was successful in Australia’s first offshore wind Feasibility License process securing two licenses. CIP has site exclusivity to develop offshore wind projects over two areas one 586 km2 and the other 689 km2. Combined the two projects have the potential to deliver up to 4.4 GW of capacity—enough to power 2.4 million homes.

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