Ørsted’s Earnings from Operational Offshore Wind Farms Up 20 Pct
The title of this post, is the same as that of this article on offshoreWIND.biz.
This is the sub-heading.
Ørsted has reported 2024 earnings from its operational offshore wind farms of DKK 23.8 billion (approximately EUR 3.2 billion), up by 20 per cent compared to 2023.
And this is the introductory paragraph.
The global offshore wind developer said on 6 February the increase was mainly due to the ramp-up of generation at Greater Changhua 1 and 2a offshore wind project in Taiwan, South Fork in the US, and Gode Wind 3 in Germany, as well as higher wind speeds, higher pricing of the inflation-indexed CfDs and green certificates. The increase in 2024 was dampened by lower availability, according to the company.
I don’t think Trummkopf would get those sort of returns, if he invested any of his own money in his plan for the “Riviera of the Middle East”.
Although my American friend ; Jack and his family enjoyed themselves in the Lebanon in the 1960s, when he lectured at the American University of Beirut.
On the other hand this article in The Times is entitled Trump’s Gaza Plan Watered Down Amid Backlash From Allies.
Is Internet Security Sometimes Over Secure?
On Friday the 13th December, I received a Purchase Confirmation from eBay by e-mail.
As I get lots of spam e-mails, I decided it was just the usual spam and ignored it.
But then I got thinking.
- I have never bought anything on eBay.
- I sold a lot of surplus things, when I last moved house on eBay and was very satisfied with their service.
- The purchase was for a watch and I don’t wear one.
- It was also an Apple watch and as the company has given me so much grief on their non-standard co9mputer and file formats , when I was a programmer, I never buy or use any Apple products.
- It was also for £650, which is never the sort of sum, I ever would pay for a watch.
So I did all the safety checks on my bank accounts and credit cards and found everything was as it should be.
On the Purchase Confirmation from eBay is a 0204 phone number offering help . So I rang it on the Saturday.
My call was answered by a male operator with a slight accent, but speaking good English.
- After I gave him the Order ID, he said that eBay had closed my account because of inactivity.
- I have since found an e-mail from eBay saying they were closing my account and I remember answering it, but as I felt I didn’t need the account, I took no action.
- The operator, then said that someone had reactivated the account and told me that this needed documents like Council Tax to prove I lived at the house.
- He then asked if anybody lived with me. I told him no, as I’m a widower in perhaps a rather curt manner, as I don’t like being accused of a crime.
- I then realised that this was an inside job, from my experience of working with police forces, banks and consultants in stopping crime.
- I told him my thoughts in a quiet way.
He then said he’d close the account and the conversation ended.
On the Monday, I decided I wanted to go to see the new Northumberland Line on the Wednesday.
- So I decided to book online using Lumo to Newcastle.
- Before entering your bank/credit card number, Lumo ask for your name and address.
- I didn’t get past the name and address entry, probably because, I suspect eBay had put my name and address on a black-list!
In the end, I bought my tickets at the King’s Cross station ticket office using a credit card. At least they were the same as the on-line price.
It was a good trip and I wrote about it in London And Newcastle In A Day By Lumo and My First Trip On The Northumberland Line – 18th December 2024.
Conclusion
I have phoned Lumo, most of my banks and credit cards, Action Fraud, the BBC, the police and I still can’t find out how I get myself off this accursed black-list.
The only good thing, is that I have not had ay money taken out of my bank account.
I have also reported the fraud to the Metropolitan Police and got a crime number for it.
Bord Gáis Energy Acquires Leading Irish Solar PV Installer Swyft Energy
The title of this post, is the same as that of this news item from Centrica.
This is the sub-heading.
Bord Gáis Energy today announced the acquisition of Swyft Energy, a leading solar PV provider in Ireland for an undisclosed sum.
Note.
- Bord Gáis Energy is a subsidiary of Centrica.
- Swyft Energy has this web site.
These three paragraphs give more details of the acquisition.
Bord Gáis Energy already operates in the solar PV market: directly to residential customers, and through its partnership with Irish Farmer’s Association delivering solar PV to farms across Ireland, helping farmers transition to green energy. The acquisition of Swyft Energy now brings deeper solar PV capability to residential as well as business and farming customers of Bord Gáis Energy, as the company transitions to a green energy business.
Swyft Energy, a technology-led solar PV and boiler installation company, brings over six years of experience in delivering customer-focused solutions using a digital-first platform. This acquisition enhances Bord Gáis Energy’s highly skilled workforce and strengthens its customer proposition.
With a target of 10,000 installations over the next 5 years, this will allow Bord Gáis Energy to compete better for the growing demand for solar energy in residential, commercial and agricultural sectors. Customers can save an average of 50-70% on their electricity bills with the installation of rooftop solar panels.
The deal certainly looks a good fit between two ambitious companies, who are operating in similar areas of the Irish market.
I have my thoughts and observations.
Are Bord Gáis Energy And Swyft Energy Stronger Together?
Do both companies feel, that by working together, they will be stronger from a financial point of view?
It wouldn’t be unusual for this to be a reason behind a deal like this.
Centrica Are Making Lots Of Deals At The Present Time
Centrica are also continuing, the tendency to expand, that they’ve shown in recent weeks.
These are some of the deals I have noted.
- Aberdeen’s Exceed Secures Centrica Rough Contract
- HiiROC Partners With Siemens To Boost Clean Hydrogen Production
- Centrica Strikes 200MW Lithuanian Green Power Deal
- Centrica And Coterra Energy Announce Natural Gas Sale And Purchase Agreements
- Centrica And European Energy Sign Agreement On Måde Green Hydrogen Facility
- Recurrent Energy’s Middle Road Project Sold To Centrica
- Team GB And ParalympicsGB Athletes Find New Career Pathway At Centrica
- UK Infrastructure Bank, Centrica & Partners Invest £300M in Highview Power Clean Energy Storage Programme To Boost UK’s Energy Security
Centrica certainly have been busy expanding.
Energy Storage In The Island Of Ireland
It is generally accepted, that if you have a lot of renewable energy, then you need a lot of energy storage, to bridge the gaps in wind and solar.
In the Wikipedia entry for Energy In Ireland, there is a section called Energy Storage.
It seems to me, that Ireland could be short on energy storage, so is it likely that the enlarged Bord Gáis Energy will look for possibilities for energy storage.
Recently, Centrica formed a business relationship with Highview Power, who are developing environmentally-friendly liquid-air batteries. These smaller and more affordable batteries might be suitable for the island of Ireland.
Conclusion
There’s more to this deal, than at first meets the eye.
Porterbrook Raises £250m Of New Green Private Placements
The title of this post, is the same as that of this article on Railway Gazette.
This is the sub-heading.
Porterbrook, the UK’s leading rolling stock financier and asset management company, is delighted to announce the successful closing of its £250m Private Placement.
These are the first two paragraphs.
The transaction, which includes existing and new investors, has enabled the company to extend its debt maturity profile at attractive pricing and further diversify its investor base of US, UK and Swiss institutions.
Porterbrook owns a quarter of the national passenger rail fleet, and in recent years has significantly diversified its portfolio including taking ownership of the Long Marston Rail Innovation Centre in Warwickshire, confirming a 49% stake in Brodie Engineering in Kilmarnock, and financing the redevelopment of Bletchley Depot for West Midland Trains.
We must be doing something right on the railways, if US, UK and Swiss institutions are prepared to back them financially.
But then Aviva, who were formerly Norwich Union, backed Greater Anglia’s new Swiss trains.
Conclusion
Despite what some might think, it would appear that green investments aren’t all bad.
SSE Launches £10m Hydro Community Benefit Fund
The title of this post, is the same as that of this article on Project Scotland.
This is the sub-heading.
SSE has launched a new £10 million hydro community benefit fund aimed at supporting projects within areas that host its existing hydro power infrastructure across Scotland.
These paragraphs fill in some detail.
The launch comes following the 80th anniversary of the hydro-electric development (Scotland) act of 1943, which enabled the North of Scotland Hydro-Electric Board (NoSHEB) to transform the way people lived and worked through the build of 54 power stations, 78 dams, and over 300km of underground tunnels.
SSE Renewables recently commissioned a report by Biggar Economics which found that the capital investment in hydro over the 80-year period since 1943 is £7.5 billion, supporting over 10,000 jobs annually in Scotland including 5,519 in the Highlands and Islands.
The new hydro community fund will see investment in local communities continue, with SSE Renewables having consulted with community council areas to establish key priorities.
Priorities include improvements to sustainable community transport, affordable housing, growth of small businesses and social enterprises, improvement of community assets and infrastructure, and a focus on community physical and mental well-being through community arts, culture, sports, and recreation.
If the new fund is as successful as the first, I can’t see thee being many complaints.
UK To Fund Hydro Energy Storage Projects
The title of this post, is the same as that of this article on The Times.
This is the sub-heading.
New infrastructure aims to help balance the electricity system after the rapid growth in renewables
These three paragraphs infrastructure the article.
Projects that use water to store and release energy are to be given government support, in an attempt to help manage the volatility in supply and demand as more green power enters the grid.
From next year, pumped hydro storage projects will be able to apply for government subsidies, which will be provided via a “cap and floor” mechanism. These would guarantee revenues if prices drop below a certain floor but prevent providers from charging above a ceiling when power prices are high.
Like other government support schemes, any cost will be levied on energy bills, while consumers will be paid back any money generated above the cap. It is yet to be decided precisely how the cap and floor will be set.
I feel it is reasonable to expect the system to be a success, as a similar system is used for interconnectors and this article on Offshore Energy is entitled Over $86 million To Be Split Between UK and Belgium Consumers As 1 GW Subsea Interconnector’s ‘Remarkable’ Revenues Exceed Ofgem’s Cap.
It looks like Ofgem played this right for interconnectors and the Nemo Link is making a substantial payment.
It will be interesting to see what happens when “cap and floor” contracts are assigned.
This move by Ofgem will probably have effects in two areas.
- SSE, Statera and Statkraft, who are typically developing systems at the high end with a size of about 1.5 GW/25 GWh could find money is easier to come by.
- At the lower end, companies like Highview Power, who have systems of 50 MW/300 MWh and 200 MW/2.5 GWh under development, will also benefit.
My Control Engineering thoughts are leaning towards the 200 MW/2.5 GWh systems being the popular ones. Especially as they would appear to be close to the right size to support a 1 GW wind farm for two hours.
A Highview Power Two-Hour Liquid Air Battery could fit nearly with a fleet of Two-Hour BESS.
It should be noted that CAF use a little-and-large approach to theit battery-electric trams in the West Midlands.
A large lithium-ion battery is the main storage device.
A supercapacitor handles the high-frequency response and keeps the power steady.
Pairing a Highview Power Two-Hour Liquid Air Battery and a Two-Hour BESS could achieve the same performance and possibly result in some cost savings.
Equinor Acquires Minority Stake In Ørsted, Becomes Second-Largest Shareholder
The title of this post, is the same as that of this article on offshoreWIND.biz.
This is the sub-heading.
Norway-headquartered Equinor has acquired a 9.8 per cent minority stake in Denmark’s Ørsted, making it the second-largest shareholder behind the Danish state, which holds a controlling stake in the company.
These are the first two paragraphs.
According to Equinor, the company is supportive of Ørsted’s strategy and management and is not seeking board representation.
“Equinor has a long-term perspective and will be a supportive owner in Ørsted. This is a counter-cyclical investment in a leading developer, and a premium portfolio of operating offshore wind assets”, said Anders Opedal, CEO of Equinor.
Could it also be two Scandinavian companies getting together to put up a stronger front to outside interests?
Are they frightened of the actions that might be taken by Great British Energy and by the Germans with their massive thirst for hydrogen?
Norway Plans EUR 3 Billion Subsidy For Floating Offshore Wind
The title of this post, is the same as that of this article on offshoreWIND.biz.
This is the sub-heading.
The Norwegian government has proposed NOK 35 billion (approximately EUR 3 billion) for a support scheme dedicated towards the first commercial floating offshore wind tender within the Vestavind F and Vestavind B areas.
These are the first two paragraphs.
According to the press release, the government is making progress in following up on its ambitious plan to allocate project areas for 30 GW of offshore wind by 2040.
Norway plans to conduct the next tendering round for offshore wind in 2025. After that, the government intends to hold regularly scheduled tendering rounds and state aid competitions leading up to 2040.
The original press release is called A Responsible Approach To Floating Offshore Wind.
Some politicians and green sceptics might not call three billion euros responsible.
I do suspect that Great British Energy will have to deal in this size of numbers to be able to compete with the Norwegians.
We’ll have to work hard to meet our target of 100 GW by 2040.
But at least as the UK’s target is higher, does that mean that the target should be easier. Or do we have more suitable sea?
There Are Only Three Large Offshore Wind Farms In Contracts for Difference Allocation Round 6
This document from the Department of Business, Industry and Industrial Strategy lists all the Contracts for Difference Allocation Round 6 results for the supply of zero-carbon electricity.
The wind farms are.
- Green Volt – 400 MW – Floating – Claims to be “The first commercial-scale floating offshore windfarm in Europe”.
- Hornsea Four – 2,400 MW – Fixed – Ørsted
- East Anglia Two – 963 MW – Fixed – Iberdrola
Is this what misgovernment expected, when they raised the budget in July 2024, as I wrote about in UK Boosts Sixth CfD Auction Budget, Earmarks GBP 1.1 Billion For Offshore Wind.
Perhaps, some developers held back until government policy is clearer?
Funding Awarded For Study On Hydrogen Storage Potential In The East Midlands
The title of this post, is the same as that of this article on the British Geological Survey.
This is the sub-heading.
A new study has been awarded funding to explore the underground hydrogen storage potential in the East Midlands.
These are the first three paragraphs.
East Midlands Storage (EMstor), a consortium led by Cadent and partnered with BGS, Star Energy Group, Net Zero Strategy and the University of Edinburgh, has been awarded discovery funding by Ofgem’s Strategic Innovation Fund to undertake a new study to evaluate geological storage potential in the East Midlands.
The EMstor study is the first of its kind in the region. It will undertake a feasibility assessment of the East Midlands’ geology to evaluate its potential to host storage technologies, allowing expansion of Cadent’s proposed 100 per cent hydrogen pipeline.
The East Midlands has numerous depleted oil reservoirs, which may have potential to store hydrogen. The study will characterise the potential geological reservoir to establish if it is suitable for hydrogen storage at scale in the local area.
The oilfields of the East Midlands Oil Province have their own Wikipedia entry, which gives full details of the dozens of small oil fields in the area.
- It may not be the world’s largest oil resource, but it certainly helped us during the Second World War.
- Experienced Texan oil-men were even imported, to help boost production.
- It used to be possible to spot the occasional lonely nodding donkey, as you passed through the area.
Surely, if some of the oilfields can be converted to hydrogen stores, this would be very useful.
The Anonymous Widower 