Swedish tidal energy developer Minesto is taking part in an acceleration program that is set to strengthen its business capabilities in the Southeast Asia region. Minesto has been awarded a place in the Business Acceleration Programme Southeast Asia (BAPSEA) joint program by the Swedish Energy Agenc
The UK government has set a £10 million ringfence for tidal stream in this year’s renewables auction, representing a third consecutive year. The UK Department for Energy Security and Net Zero (DESNZ) announced that tidal stream and wave energy will compete in Pot 2 of the Contracts for Difference (C
Tekmar Group has reported improved financial performance for the 2023 financial year with a revenue of £39.9 million, compared to £30.2 million in FY22. Deemed a pivotal year that saw instability in the offshore wind market, Tekmar said it had stabilized the business in 2023. Tekmar saw an adjusted
Danish company Wavepiston and Export Barbados (BIDC), an agency of the Barbados Government, are set to explore the deployment of wave energy farms offshore Barbados. According to Wavepiston, Barbados and most of the Caribbean region hold a large potential for wave energy. Barbados has set a net-zero
Subsea power cable manufacturer NKT and aluminium and energy company Hydro have entered into a strategic partnership to accelerate the shift towards low-carbon aluminium and increase its role in reducing the carbon footprint of power cables. As part of the partnership that aims to further decarboniz
To deliver a cost-effective net-zero energy system and with electricity consumption potentially trebling by 2050, the UK should seek to harness 27 GW of wave energy, according to research by Finland’s LUT University. LUT University investigated a series of potential scenarios for the UK and Ireland
Fugro has reported revenue of €2.2 billion for 2023, a 27.5% growth from €1.7 billion in 2022, said to be driven by high client demand in energy markets. For the full year of 2023, Fugro reported it had realized revenue growth on a currency-comparable basis by capturing high client demand in the off
Norwegian seismic company PGS is switching to energy-efficient lighting for eight of its seismic vessels as part of its sustainability targets and desire to comply with emission reduction targets and new regulations. PGS appointed compatriot lighting company Glamox to deliver energy-saving lighting
Dutch-Norwegian floating solar developer SolarDuck, Italian independent asset manager Green Arrow Capital and New Developments s.r.l., an Italian developer, have agreed to collaborate on the development of an offshore hybrid wind-solar farm in the Gulf of Taranto offshore Italy. The three companies
The Government of Canada has released the Tidal Energy Task Force’s final report to clarify regulatory requirements for tidal energy projects in the Bay of Fundy with the aim of defining the path for growth of the industry. The Government of Canada noted it was working with the province of Nova Scot
After another year of active tendering, Subsea7 secured $7.4 billion of contract awards in 2023, taking its backlog to $10.6 billion, a year-end level last seen in 2013. In its full-year 2023 financial report, Subsea7 reported revenue of $6 billion, an increase of $838 million or 16% compared to the
CorPower Ocean’s C4 wave energy converter (WEC) has completed the first cycle of the ocean commissioning program at the Agucadoura site in northern Portugal. Now proven at commercial scale, at the exposed Atlantic test site, CorPower said that the C4 device had demonstrated a unique ability to tune
MMA Offshore reported strong demand for its vessels and services in the first FY2024 half-year. With newbuild vessel orders at a historic low and limited additional vessel supply anticipated in the coming couple of years, the Australia-headquartered company said it was expecting favorable market con
Minesto’s 1.2 MW Dragon 12 tidal powerplant has delivered as expected during its first phase of operation at its grid-connected monopile seabed foundation in Vestmannasund, Faroe Islands, the Swedish company reported. The 25-ton Dragon 12 tidal energy kite was commissioned in the early morning of Fe
