Basic market fundamentals such as the balance between supply and demand will always challenge the oil industry, but a current big challenge companies are facing is the transition to a low-carbon economy, Bob Dudley, CEO of BP said Tuesday.
Siemens Gamesa Renewable Energy (SGRE) unveiled Thursday its three-year strategic plan to become a global leader in renewables development, setting a €2 billion ($2.5 billion) savings target by 2020, Kallanish Energy reports.
Danish renewable energy company Orsted said Wednesday it’s chosen Siemens Gamesa Renewable Energy (SGRE) to provide wind turbines for what’s considered the world’s largest offshore wind farm, the 1,400-megawatt Hornsea Project Two.
Independent power producer Tenaska said this week it signed a long-term power purchase agreement (PPA) with Associated Electric Cooperative for roughly 236 megawatts of renewable power from a wind project in northwest Missouri.
Despite a record-breaking year for wind power capacity installation and project sanctioning, Europe is still dealing with an uncertain outlook for the future of wind industry, trade-body WindEurope said on Tuesday.
Europe reached another record year for wind power in 2017, with new deployments growing 20% year-on-year, as further cost reductions and increased competition in auctions gave investors more capacity for less cash.
Italian oil major Eni said on Tuesday it plans to invest in two renewable power generation projects in Ghana, where its subsidiary operates two offshore blocks and one exploration licence, Kallanish Energy learns.
Oklahoma in the early 2000s, looking to diversify its oil- and gas-dominated economy, sought to diversify, and offered the wind industry generous state tax incentives and access to inexpensive tracts of land.