Oil Hits One-Year High With Market Eyeing Tight Global Supplies
By Andres Guerra Luz (Bloomberg) — Oil surged to the highest in more than a year as the market looks ahead toward an accelerating decline in global inventories and a comeback...
By William Mathis (Bloomberg) — Swedish energy company Vattenfall AB is going ahead with building one of the world’s largest offshore wind farms and the biggest without government subsidies.
The 1,500-megawatt Hollandse Kust Zuid wind farm off the coast of the Netherlands combines two projects that it won tenders for in 2018 and 2019. The utility’s decision to proceed is a signal that major renewable power projects can be built without state aid.
The massive wind farm may be the biggest in the world when it becomes fully operational in 2023, though it likely won’t hold that title for long as a bigger wind farm in the U.K. is expected to be completed about the same time. The electricity produced at Hollandse Kust Zuid will be able to satisfy the the annual consumption of more than two million Dutch households.
Despite winning the last two tenders for Dutch offshore wind projects, Vattenfall said it wouldn’t participate in an ongoing round.
Siemens Gamesa Renewable Energy SA will provide turbines for the project. Prysmian SpA and TKF will supply cable systems while Subsea 7 SA will provide foundation and cable installation.
© 2019 Bloomberg L.P
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