Category: Offshore

Eldar Sætre continues as Statoil’s chief executive officer

Under his individual pension agreement Sætre had the right to retire at the age of 62, after just three years as chief executive. At that time, an element of his fixed pay was therefore excluded from his pensionable earnings. Now that there is agreement to a longer timeframe, the board has decided to revert to the original provision of pension being calculated on total fixed pay. The fixed pay element, which today represents around NOK 2.4 million, will thus be included in the pension-qualifying income.  Sætre will at the latest retire when he turns 67, but he retains the...

Read More

Copenhagen Infrastructure Partners completes GBP 250m refinancing of two biomass power plants in the UK (Brigg and Snetterton)

Copenhagen Infrastructure Partners (CIP) has completed the refinancing of its interest in two biomass power plants in the UK on behalf of the fund Copenhagen Infrastructure I K/S (CI I). The fund has provided equity, preferred equity and senior debt for the development and construction of the two biomass power plants. The plants have now come into operation and senior debt has been sourced from third parties to refinance CI I’s initial investment. The fund retains its ownership interest in the two operating entities. The GBP 250m senior debt financing is delivered by a combination of banks and institutional...

Read More

Fugro secures new contract for marine site investigation in Mexico

Offshore operations, including multi-site high resolution geophysical and geotechnical surveys together with laboratory testing and geoconsulting services, will support design and/or installation of platforms, pipelines, jack-up platforms and deepwater facilities. More information on field development...

Read More

World’s first floating wind farm has started production

In recent years, there have been significant cost reductions in both the onshore and bottom fixed offshore wind sectors. Floating wind is expected to follow a similar downward trajectory over the next decade, making it cost competitive with other renewable energy sources. “Statoil has an ambition to reduce the costs of energy from the Hywind floating wind farm to € 40-60 €/MWh by 2030. Knowing that up to 80% of the offshore wind resources are in deep waters (+60 meters) where traditional bottom fixed installations are not suitable, floating offshore wind is expected to play a significant role in...

Read More

Cammell Laird strikes ‘Teaming Agreement’ with BAE Systems in bid to build Type 31e Frigates

Merseyside-based shipyard and engineering services company Cammell Laird is today announcing a new partnership with BAE Systems to position the companies to build five Type 31e Frigates. The Teaming Agreement has been formed in response to the UK Ministry of Defence Request for Information and will now be part of a competitive tender process. The agreement will see Cammell Laird act as the Prime Contractor to build the Type 31e Frigates with BAE Systems providing warship design, engineering capability and combat systems expertise. Cammell Laird CEO John Syvret CBE said the company, which is the UK’s largest and most...

Read More

Wind Farm Data Management and Analysis Forum, Hamburg

October 17, 2017 Natural Power’s Market Analysis Manager, Jeff Bryan, will be speaking at the Wind Farm Data Management and Analysis Forum in Germany this week. His presentation ‘Using data to improve O&M efficiency and drive down the LCOE’ will take place on 18th October at 09.25 hours in the Radisson Blu Hotel, Hamburg. Natural Power’s advisory and analytics team, comprising performance analytics, market analysis and due diligence provides in-depth analysis and insight to key renewable energy and infrastructure markets. The team employs a combination of bespoke in-house tools, industry standard models and desktop research to uncover the issues...

Read More

This is what America's eco city of the future looks like

This is what America’s eco city of the future looks like Georgetown mayor Dale Ross is ‘a good little Republican’ – but ever since his city weaned itself off fossil fuels, he has become a hero to environmentalists by Tom Dart in Georgetown, Texas – The Guardian When the caller said he worked for Harry Reid and the former Senate majority leader wanted a word, Dale Ross assumed it was a joke. “OK, which of my buddies are messing with me today?” he wondered. He shouldn’t have been so surprised. Ross is the mayor of Georgetown, population 65,000, and he has become a minor celebrity in environmental circles as a result of a pioneering decision in 2015 to get all the city’s electricity from renewable sources. Georgetown’s location in oil-and-gas-centric Texas and Ross’s politics add to the strangeness of the tale. The mayor is a staunch Republican at a time when a Republican president – and his Environmental Protection Agency administrator – reject the scientific consensus on climate change and are trying to revive the declining coal industry. Ross has appeared in a National Geographic documentary, a forthcoming film about clean energy for HBO directed by James Redford (son of Robert) and in this year’s follow-up to An Inconvenient Truth, which saw the advocate and former vice-president Al Gore visit Georgetown. The day after we met at city hall,...

Read More

Categories