Orsted’s Hornsea 3 chief announced the collapse of a major monopile contract, forcing the 2.9 GW offshore wind project to pause its foundation procurement. The decision highlights the difficulty of securing large‑scale steel structures for the UK’s expanding offshore wind fleet. Orsted now faces a “juggling act” to re‑source foundations while keeping the project on schedule. The setback underscores the broader challenge of matching supply capacity with ambitious renewable targets.
Four U.S. tech giants—Meta, Amazon, Google and Microsoft—accounted for 49% of global clean‑power purchase agreements (PPAs) in 2025, the year total PPA activity fell for the first time since 2016. Together they secured 20.4 GW, enough to power Denmark, and are...
Equinor has introduced a 10% internal rate of return (IRR) hurdle for its renewable‑energy investments, tightening the profitability bar for new wind projects. The policy reflects the Norwegian oil major’s move toward stricter capital allocation as it expands its offshore...
New York’s energy agency is exploring a pre‑development financing program to keep offshore wind projects viable after the Trump administration’s regulatory rollbacks. The proposal would allocate roughly $1 billion to cover permitting, engineering, and early‑stage financing studies, allowing projects to move...
Denmark is redesigning its offshore wind support by introducing a capability‑based two‑way contract‑for‑difference (CfD) for a 2.8 GW tender after a 2024 auction failed to attract bids. Unlike traditional production‑based CfDs, compensation is calculated on the wind farm’s available active power...
The International Energy Agency (IEA) revised its wind‑power outlook, emphasizing the need for greater system flexibility to clear long grid‑queue backlogs. It warned that solar will soon generate twice as much electricity as wind, reshaping the renewable mix. The agency...
German renewables developer PNE was passed over for a 2 GW offshore wind farm off Vietnam’s Binh Dinh province, with authorities selecting VinEnergo, a new Vingroup subsidiary. The $4.6 bn project is part of Vietnam’s pledge to install 6 GW of offshore wind by...