French Offshore Wind Sector Impacted by Government Crisis
Offshore wind developers and equipment suppliers are bracing for a slowdown in business in France where a political crisis has stalled changes to the country's energy framework and government tenders.The threat of a further hit to France's economy comes after data released on Friday shows business activity declined faster than expected in October.President Emmanuel Macron has churned through six prime ministers in two years as a fractured legislature struggles to agree on a belt-tightening budget.
Dutch Government to Grant $1.18b in Subsidies for Offshore Wind Farms
The Dutch government will grant around 1 billion euros ($1.18 billion) in subsidies next year for the construction of offshore wind farms with a total capacity of 2 gigawatt (GW), it said on Tuesday.Tenders for the wind farms had been put on hold in May, as prospective builders had said they saw no viable business case without subsidies.The Netherlands last year already pushed back plans to increase offshore wind capacity from 4.7 GW to 21 GW to the end of 2032 instead of 2030, citing costs and supply chain difficulties.($1 = 0.8450 euros)(Reuters)
Britain Emphasizes Collaboration on Energy Security at Global Summit
Britain urged closer international cooperation to improve energy security on Thursday, telling dozens of other governments and business leaders that they would otherwise be vulnerable to those who were willing to weaponise supplies.Security of energy supply shot up the agenda of countries around the world after Russia's full-scale invasion of Ukraine in 2022 drove up global prices and pushed the EU to curb its reliance on Russian fuels."Energy security is national security...
Ireland Commits to More Offshore Wind Auctions Amidst Industry Struggles
Ireland will go ahead with at least three more offshore wind auctions by the end of this decade, its marine minister told Reuters on Thursday, adding that it was unlikely the country would meet its target of 80% of electricity generation from renewable sources by 2030.The commitment to offshore wind comes despite a vicious cycle of inflationary pressure, higher interest rates and bottlenecks in the supply chain which have caused auctions to fail and cancellations and postponements of projects around the globe."There'll be probably three more auctions…
