Subscribe  Log in | Register | Advertise | Digital Issue   |   Search
  • CCUS
  • Cap & Trade Markets
  • Voluntary Markets & Offsets
  • Corporate & Finance
  • Net Zero Strategies
Search
Related Articles
RWE to work with Viking CCS network
Development partnership will see two firms work together to capture CO₂ from two CCGTs in the Humber region
Renewables count the cost of rate hikes
Levelised cost of electricity rises on higher cost of capital but renewables remain highly competitive against fossil fuels
US opens first California offshore wind auction
First lease sale on the west coast to be held in December
Energy crisis will not derail transition – DNV
Falling cost of renewables and rising carbon prices will outweigh short-term turbulence, risk management firm says in new forecast
Floating offshore wind capacity doubles in 2022
Sector is likely to continue to gain momentum as costs fall
Mainstream targets energy major status by 2030
New ownership positions renewables project developer for transition to long-term asset owner and operator
Cnooc ramps up wind development
Chinese state oil company following in footsteps of European counterparts as it looks to decarbonise its portfolio
RWE expands in US with $6.8bn Con Edison deal
German utility nearly doubles its US renewables portfolio with purchase of US’ second-largest solar operator
Orsted drops out of Taiwanese offshore wind tender
Unfavourable regulation and inflationary pressure behind developer’s decision not to bid in upcoming 3GW tender
US takes on offshore permitting bottleneck
Funding boost for Bureau of Ocean Energy Management aimed at speeding up leasing and permitting of proposed projects
Many European energy companies are investing in offshore wind
Wind Orsted Vattenfall RWE
Polly Martin
4 November 2021
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Low wind speeds mar offshore wind profits

Below-normal speeds slashed wind power generation in Europe in Q3, highlighting the risks faced by operators in the region

Seasonal variations in wind speeds have dampened results for European energy companies’ offshore wind segments. Denmark’s Orsted, Sweden’s Vattenfall and Germany’s RWE all noted low wind speeds as a factor offsetting additional revenue from new capacity installed in the first nine months or third quarter of 2021. Orsted’s offshore power generation fell by 28pc year-on-year in Q3 “primarily due to significantly lower wind speeds, the divestment of 50pc of [the] Borssele 1&2 [wind farm] in May 2021, and a slightly lower availability”. Revenue from operational offshore wind farms decreased by 18pc, to DKK3.4bn ($530mn). This was offset by revenue from power sales, which more than tripled to

Welcome to the PE Media Network

PE Media Network publishes Petroleum Economist, Hydrogen Economist and Carbon Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

 

Already registered?
Click here to log in
Subscribe now
to get full access
Register now
for a free trial
Any questions?
Contact us

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Drax pauses world’s largest Beccs project
21 March 2023
Major biomass power generator says £2bn project cannot proceed without clarity on UK government support for technology
BP and CNPC explore Hainan CCUS project
21 March 2023
European oil major agrees to work with CNPC as Chinese state company seeks international partnerships to grow deployment of CCUS
Mercuria to invest $500mn in nature-based projects
20 March 2023
Commodities trader aims to generate carbon credits for use in voluntary and compliance markets via new investment vehicle
Shell rejects calls for new scope three targets
17 March 2023
Oil major pushes back on shareholder demands amid easing ESG pressures on industry

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
  • Twitter
Tweets by Carbon Economist
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2023 The Petroleum Economist Ltd
Cookie Settings
;

Search