Daily Archives: August 14, 2021

The jacket foundation and the topside of the Saint-Nazaire offshore substation are scheduled to depart from the Nantes Saint-Nazaire Port to the installation site in the coming several days.

The jacket foundation will leave the Nantes Saint-Nazaire Port on Saturday, 14 August.

The topside will follow soon and set off in the evening hours of 17 August, the Nantes Saint-Nazaire Port said.

The four pin piles that will support the jacket foundation were installed at the site by DEME Offshore in April.

Saint-Nazaire, also known as Parc du Banc de Gurande, will comprise 80 GE Haliade 150-6MW turbines and the offshore substation installed between 12 and 20 kilometres off the coast of the Gurande peninsula.

The 480 MW project is scheduled to be operational in the summer of 2022 when it will become the first commercial-scale wind farm installed in French waters.

A consortium of Atlantique Offshore Energy, GE Grid Solutions and Socit de Dragage International (SDI), part of DEME Group,wonthe EPCI contractfor the Saint-Nazaire electrical offshore substation in June 2019.

The wind farm is developed by Eolien Maritime France (EMF), a consortium of EDF Renouvelables, Enbridge, and Canada Pension Plan Investment Board.

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France's First Offshore Substation Preps For Final Journey - Offshore WIND

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US Wind announces developments, expansion in Maryland offshore wind project - MyEasternShoreMD

By Dominic Chopping

Danish renewable energy company Orsted AS on Thursday posted a higher-than-expected second-quarter net profit and cautioned that it has experienced significantly lower wind speeds than normal, especially across its offshore portfolio.

The company posted a net profit of 5.54 billion Danish kroner ($874.5 million) for the quarter from a loss of DKK1.89 billion a year earlier, as revenue rose 36% to DKK13.55 billion.

A FactSet analysts' forecast had expected net profit of DKK4.78 billion on revenue of DKK14.24 billion.

Orsted backed its full-year guidance still expecting earnings before interest, tax, depreciation and amortization, excluding new partnership agreements, of between DKK15 billion and DKK16 billion.

However, the company said full-year directional guidance for its main offshore unit has changed to significantly lower from lower, mainly due to the significantly lower than normal wind speeds across its entire offshore wind portfolio which has had a DKK1.4 billion impact versus a normal year up until the end of July. Guidance had also been affected by a DKK800 million warranty provision related to the earlier identified issues with cables at some of its wind farms.

The company now expects gross investments in 2021 between DKK39 billion and DKK41 billion from DKK32 billion-DKK34 billion previously.

Write to Dominic Chopping at dominic.chopping@wsj.com

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Orsted 2Q Profit Beats Views; Cautions On Offshore Wind Unit - MarketWatch

rsted boosted both its operating profit and net profit in the first half of the year and retained its full-year guidance for 2021.

However, due to issues with cable protection systems and significantly lower wind speeds across its entire offshore wind portfolio, the Danish developer expects full-year Ebitda to be in the lower end of its DKK 15-16 billion (2.01-2.15 billion) guided range.

It recorded Ebitda for the first half of 2021 of DKK 13.1 billion up 34% year on year. This increase was driven by the gain of DKK 5.4 billion after selling a 50% stake in the Dutch offshore wind farm, 752MW Borssele I & II Borssele I & II (752MW) Offshoreoff Zeeland, Netherlands, Europe Click to see full details.

The growth came despite earnings from its operational offshore and onshore wind farms falling 3% to DKK 7.9 billion in the first half of the year. The increased generation capacity from its wind farms was more than offset by significantly lower wind speeds across rsteds portfolio, the developer explained.

It was also hit by several negative impacts in the UK, including higher than expected charges for using the transmission network known asTNUoS tariffs and designed to recover the cost of installing and maintaining the country's transmission system due to rsted boosting its UK wind portfolio; lower earnings from209MW Horns Rev 2 Horns Rev 2 (209MW) Offshoreoff Blvandshuk, Denmark, Europe Click to see full details as a result of the subsidy period ending in October 2020.

rsteds earnings from existing partnerships were also down in the first half of the year. In H1 2020, this figure had been boosted by high earnings from construction agreements related to the1218MW Hornsea Project One Hornsea Project One (1218MW) Offshoreoff Yorkshire, UK, Europe Click to see full details offshore wind farm, while H1 20221 was negatively impacted by a warranty provision related to cable protection system issues at some of its offshore wind farms.

Earnings from bioenergy and other businesses were in line with those from last year.

rsted recorded a net profit of DKK 7.1 billion in the first half of 2021, up from DKK 2.5 billion one year earlier. This was primarily driven by the stake sale in Borssele 1 & 2.

rsted has maintained its full-year Ebitda guidance of DKK 15-16 billion. However, due to wind speeds being significantly lower than normal across its entire offshore wind portfolio and the warranty provisions for cable protection systems, it expects this to be in the lower end of the guided range.

The company has raised its full-year gross investment guidance from DKK 32-34 billion to DKK 39-41 billion, following the completion of a deal to acquire Brookfield Renewables Irelandss onshore wind and solar portfolio in June and due to the expected acquisition of the300MW Lincoln Land Wind Lincoln Land Wind (300MW) OnshoreMorgan County, Illinois, USA, North America Click to see full details project in the US later this year.

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rsted sees profits boosted by offshore wind farm stake sale - Windpower Monthly

August 13 (Renewables Now) - Pilot Energy Limited (ASX:PGY), an Australian junior oil and gas company that aims to become a clean energy developer, will start a feasibility study for its Mid West Wind and Solar Project in Western Australia.

The company aims to use its assets to cornerstone the development of projects potentially including offshore and onshore wind, solar, green and blue hydrogen, carbon capture and storage (CCS) and other infrastructure in the Mid West and South West regions of Western Australia.

The Mid West Wind and Solar Project feasibility study is expected to cost about AUD 900,000 (USD 662,000/EUR 564,000) and Pilot has engaged three consults to conduct it over a period of six months.

The study will look into the integration of offshore and onshore wind and solar projects with existing assets and infrastructure to provide competitive clean energy, Pilot said on Thursday. It will evaluate the renewable energy resources in the Mid West region and their commercialisation via the production and sale of hydrogen, the company explained.

The consultants engaged are Genesis, part of Frances Technip Energies NV (EPA:TE), which will project manage the feasibility study, offshore wind farm development consultant Lautec AU Pty Ltd and renewable energy infrastructure developer Green Fuel Development Pty Ltd (GFD).

Pilot has secured an option to continue with a solar scheme of potentially at least 150 MW currently progressed by GFD.

Lautec, together with C2Wind ApS, will also help Pilot with an offshore wind resource baseline survey that is expected to employ a fixed LiDAR system.

The news follows shareholder approval earlier in August of Pilot's AUD-8 million equity capital raise.

(AUD 1 = USD 0.735/EUR 0.626)

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Pilot Energy to study feasibility of offshore, onshore wind and solar in WA - Renewables Now

HOUSTON, Aug. 11, 2021 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (W&T or the Company) today announced that the Company will be participating in two upcoming investor conferences.

The Company will participate in EnerCom, Inc.s The Oil and Gas Conference in Denver, Colorado where Chairman and Chief Executive Officer Tracy W. Krohn is scheduled to make a presentation on Tuesday, August 17th at 4:00 pm Mountain Time. Senior management will also host one-on-one meetings with investors that day. The presentation will be webcast live and archived on W&Ts website, http://www.wtoffshore.com, in the Investors section. An updated investor slide deck will be posted in the Investors section of W&Ts website under Presentations on Tuesday morning, August 17th, 2021.

The Company will also participate in the virtual Seaport Research Partners Annual Summer Investor Conference on Tuesday, August 24th, 2021 by hosting one-on-one meetings with investors and will not be making a formal presentation.

About W&T Offshore

W&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. The Company currently has working interests in 41 producing fields in federal and state waters and has under lease approximately 622,000 gross acres, including approximately 435,000 gross acres on the Gulf of Mexico Shelf and approximately 187,000 gross acres in the Gulf of Mexico deepwater. A majority of the Companys daily production is derived from wells it operates. For more information on W&T, please visit the Companys website at http://www.wtoffshore.com.

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W&T Offshore to Participate in Upcoming Investor Conferences - GlobeNewswire

This week marks nine years since Australia re-introduced a policy of offshore processing for asylum seekers arriving by boat. Nine long years of a cruel, costly and ineffective policy sustained by successive governments of both major parties, despite consistently failing to meet any of its stated aims.

As we outline in a new Kaldor Centre policy brief, Cruel, costly and ineffective: the failure of offshore processing in Australia, offshore processing does not save lives, stop the boats or break the business model of people smugglers. Nor is it a benign failure.

Beyond simply not doing what it sets out to do, offshore processing carries enormous costs. There are human costs, for the men, women and children subject to immense suffering, and even to some of the people tasked with implementing it.

It also carries diplomatic costs, as Australias international reputation is tarnished. Its relationship with Pacific neighbours in Nauru and Papua New Guinea grows increasingly strained with each passing year. Then theres the ballooning economic costs for taxpayers, as billions are sunk in vain into a disastrous policy failure.

That no Australian government in almost a decade has successfully brought this policy to a formal close is astonishing, and it demands interrogation.

Read more: With billions more allocated to immigration detention, it's another bleak year for refugees

The governments own data on the impact of offshore processing on boat arrivals is the starkest revelation of this policys failure. During its first year, more people sought asylum in Australia by boat than at any other time since boat arrivals were first recorded in the 1970s. Deaths at sea also continued at broadly comparable rates to previous years.

People continued to seek safety in Australia via maritime routes until they physically could not do so anymore. The 2013 launch of Operation Sovereign Borders, and the Abbott governments commitment to intercepting and returning people trying to reach Australia by boat no matter the legal and humanitarian consequences effectively rendered it futile to try and reach Australia by sea.

Despite early suggestions offshore processing was a vital complement to this turning back of boats, there is no evidence that this is so.

In fact, while offshore processing has formally remained on foot, and popular rhetoric gives the impression that it is still a key part of the matrix of border security measures necessary to keep the boats stopped, Australia ceased transferring new arrivals offshore in 2014.

Instead, Australian officials have gone to extraordinary lengths to intercept at sea and return hundreds of asylum seekers in recent years.

What this means is that transfers offshore occurred for less than two years. The following seven years have been spent in a prolonged and costly policy bind, as successive Labor and Coalition governments have tried to find solutions outside Australia for people who should have been settled here long ago.

Meanwhile almost everyone still subject to this policy is back in Australia, having been either returned following a policy change in July 2013 or medically evacuated amid spiralling health crises offshore from 2017.

According to latest figures, there are barely more than 100 asylum seekers left in each of Nauru and Papua New Guinea. The men and women in Nauru are living in the community. The men in Papua New Guinea are in the capital, Port Moresby, having been transferred there following the closure of the Manus Island detention centre in 2017.

The reason given publicly for continuation of this policy that offshore processing is necessary to prevent a resurgence of boat arrivals has no demonstrated evidentiary basis.

When Australia previously sent asylum seekers offshore, under the Howard government, the majority of people processed offshore and found to be refugees were settled in Australia.

This fact did not prompt an increase in boat arrivals. More recently, there was no spike in boat arrivals when Australia announced that people offshore would be eligible for resettlement in the United States, or when almost everyone was moved back to Australia.

We have just over a thousand asylum seekers here in Australia, and a small number offshore, who have been put through significant trauma in a failed attempt to send a harsh deterrence message to others who might consider trying to reach Australia by boat.

They have been waiting years for a solution, when a simple one is available right now.

All should be permitted to settle permanently in Australia or another appropriate country, provided that alternative is voluntary. Serious consideration should be given to what reparation and rehabilitation Australia may owe the victims of offshore processing.

This deeply flawed policy must not be permitted to reach its ten-year mark.

Read more: Could the Biden administration pressure Australia to adopt more humane refugee policies?

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Cruel, costly and ineffective: Australia's offshore processing asylum seeker policy turns 9 - The Conversation AU