Cappro news – Page 3
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CapPro newsGrid investments still far below what’s needed
A resilient power transmission system is critical to meeting net-zero emissions targets. The US Department of Energy (DoE) recently issued an RFP for new grid infrastructure and, like much of the world, it’s trying to play catch up.
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CapPro newsOFS shares slide as OPEC+ holds steady
Global oil demand growth is set to slide in 2024 while supply is boosted by non-OPEC+ members. As it attempts to manage prices, OPEC+ is expected to hold steady on production. Those moves, and an announcement Saudi’s energy ministry that it wouldn’t push on with production increases, naturally called some major projects into question and oilfield service (OFS) providers took a hit in the markets.
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CapPro newsAustralia hopes for breakthrough in ESF steelmaking
Australia’s two largest iron ore producers and its biggest steelmaker partnered to investigate the development of the country’s first ironmaking electric smelting furnace (ESF) pilot plant. The technology could allow the country’s lower-grade ores to be used in a greener steelmaking process.
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CapPro newsBNEF: Electrified transport investments surpass renewable energy in 2023
BloombergNEF’s Energy Transition Investment Trends 2024 finds that renewable energy, electric vehicles, hydrogen and carbon capture all drive investment growth year-on-year. Global investment in the low-carbon energy transition surged 17 percent in 2023, reaching USD1.77 trillion.
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CapPro news17 companies selected in UK’s 33rd O&G licencing round
Shell, Equinor, bp, Total and NEO were among the 17 separate companies that were offered a total of 24 licences in the second tranche of the UK’s 33rd oil and gas licensing round.
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CapPro newsWhat’s in store for offshore wind in 2024?
Esgian Offshore Wind’s Oliver Stephenson shared his predictions for the sector in 2024. Heightened uncertainty thanks to elections in nascent and established markets is likely to have a detrimental impact on the offshore wind energy sector.
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CapPro newsWestwood calculates risk profile for offshore wind projects
Westwood Global Energy Group research indicates that out of the 380GW of pre-sanctioned offshore wind capacity that is forecast to reach FID between 2024 and 2030, nearly 40 percent of the pipeline is considered “risked”.
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CapPro newsBaker Hughes hits hydrogen milestones
Baker Hughes said that it achieved several milestones to support the growth of the hydrogen economy, including advancements in the company’s hydrogen enabling technologies and progress in executing several hydrogen projects.
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CapPro newsHydrogen sector must tackle growing pains in 2024
There is great interest in the hydrogen economy and the critical role it could play in helping to decarbonise transport, energy and industry. The sector is in its infancy but 2024 could be a landmark year, and development at-scale invariably brings about a few growing pains.
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CapPro newsNew Jersey approves more than 3.7 GW of offshore capacity
The New Jersey Board of Public Utilities (NJBPU) awarded a combined 3,742 MW of offshore wind capacity to Invenergy and energyRE’s Leading Light wind project, and the Attentive Energy Two project.
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CapPro newsSupply chain responds to European offshore wind energy indicators
The European offshore wind energy sector, while reporting a record year for installations in 2023, is still some way off track. Overall, the EU aims to install 420 GW of wind energy by 2030, up from 205 GW today. One (of many) reasons why the Continent is lagging is a result of limited supply chain investment.
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CapPro newsSolar shines in US energy mix
The USA’s Energy Information Administration (EIA) expects solar electric generation to account for 7 percent of the nation’s electricity generation in 2025, up from 4 percent in 2023, according to its January Short-Term Energy Outlook (STEO).
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CapPro newsCIP targets energy island build out
Energy islands are large-scale offshore energy hubs, which will enable the massive scaling required for the next generation of offshore wind deployment globally. Copenhagen Infrastructure Partners has developed a new company dedicated to developing these projects.
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CapPro newsTürkiye puts energy efficiency at centre of attention
Türkiye’s government has said that it will invest USD20 billion in energy efficiency schemes in the public and private sectors by 2030. Speaking at press conference last week, Turkish energy and natural resources minister Alparslan Bayraktar said, “we will save USD46 billion worth of energy by 2040” thanks to the 2030 Energy Efficiency Strategy and Action Plan.
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CapPro newsTimely progress made with low-emission steel for wind turbine towers
Despite the wind energy sector’s green credentials, the manufacture and installation of wind turbines is undoubtedly heavy industry – something that is difficult to decarbonise. Progress is being made, however, as OEMs move to eliminate CO2 from the tower manufacturing link of the chain. Progress is certainly a priority, given stringent bidding requirements seen in recent offshore rounds.
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CapPro newsNorway awards 62 production licences in latest round
Norway’s buoyant offshore oil and gas sector looks set to continue on a positive trajectory, with 62 new production licenses on the Norwegian continental shelf in the APA 2023 licensing round. Last year, 47 licenses were awarded.
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CapPro newsUpcoming offshore wind tenders
According to data from Esgian Offshore Wind, 14 countries are set to award leases for offshore wind energy projects in 2024, and six will start new auction rounds.
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CapPro newsIneos Project ONE gets green light on appeal
The environmental permit for Ineos Project ONE has been reinstated and work at the project in Antwerp, Belgium, can continue.
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CapPro newsSpanish energy strategy bears fruit
According to Spanish grid operator Red Electrica, the country hit an energy milestone with 50.4 percent of its annual demand met by renewable resources in 2023. The country’s energy strategy has been paying dividends, and more work looks set to follow.
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CapPro newsOffshore rig market to strengthen further in 2024
The offshore rig utilisation market is a useful leading indicator for the overall health of that sector, and subsequently the potential opportunities on offer for project logisticians that support the business.