Core Insights - Subsea 7 S.A. has been awarded a significant contract by Ocean Winds for the BC-Wind project, marking its third contract in the Polish offshore wind market [1][3] - The BC-Wind project will be located in the Baltic Sea, approximately 23 kilometers off the Polish coast, and will consist of 26 wind turbine generators [2] - Seaway7's responsibilities include the transport and installation of 26 transition pieces and an offshore substation, with offshore activities expected to begin in 2027 [2] Company Overview - Subsea 7 is recognized as a global leader in delivering offshore projects and services, focusing on creating sustainable value and being a preferred partner in the energy industry [3] - The company aims to support the evolving energy sector by providing efficient offshore solutions [3]

Core Insights - Dominion Energy's Q3 2025 results show a year-over-year increase in regulated electric sales by 3.3% and operating earnings rising to $921 million from $836 million in Q3 2024 [5] Financial Overview - Dominion has a five-year capital investment plan amounting to approximately $50 billion through 2029 [2] - Total project costs for the Coastal Virginia Offshore Wind project stand at $11.2 billion, which is a decrease of about $15 million from the previous quarter [8] Project Development - The Coastal Virginia Offshore Wind project, consisting of 176 turbines with a capacity of 2.6 GW, is currently 66% complete [3][6] - The project is expected to deliver its first electricity to customers by Q1 2026, with full completion anticipated by the end of 2026, although final turbine installations may extend into early 2027 [7] Cost Implications - U.S. tariffs are projected to increase the offshore wind project costs by $690 million through 2026, with Dominion responsible for $218 million of this amount [8] - The levelized cost of electricity from the plant is now expected to be $84/MWh, up from $63/MWh in August, primarily due to anticipated lower revenue from renewable energy credits [9] Capacity and Service - Dominion Energy provides regulated electric service to approximately 3.6 million customers in Virginia and the Carolinas, and regulated natural gas service to about 500,000 customers in South Carolina [4]

Core Viewpoint - Fitch Ratings has placed Eversource Energy and its utility subsidiaries on "rating watch negative" due to concerns that the Trump administration's stop-work order on the Revolution Wind offshore wind farm could financially weaken the company [1][4]. Group 1: Project and Financial Obligations - Eversource sold its 50% stake in the 700-MW offshore wind project to Global Infrastructure Partners (GIP) but remains responsible for certain project costs [2]. - Eversource is required to ensure that GIP receives a 13% pre-tax internal rate of return on its investment in the Revolution project [3]. - The company recorded approximately $360 million in liabilities when it sold its share in Revolution Wind, reflecting increased construction costs and delays [3]. Group 2: Risks and Uncertainties - The stop-work order introduces significant uncertainty and could lead to meaningful construction delays, resulting in large cost overruns or potential abandonment of the project [4]. - In a worst-case scenario, this situation could result in a one-notch credit rating downgrade for Eversource and its subsidiaries [4]. - Ørsted, which co-owns the Revolution project with GIP, has filed a lawsuit to lift the work-stop order, claiming the project is 80% complete [5]. Group 3: Capital Expenditure and Regulatory Environment - Eversource has a relatively low-risk $24 billion, five-year capital expenditure plan, which includes $10.2 billion for electric distribution facilities, $6.8 billion for FERC-regulated transmission, and $6 billion for natural gas distribution infrastructure [6]. - FERC-regulated transmission facilities constitute 36% of Eversource's rate base, with Connecticut and Massachusetts each accounting for 29% and New Hampshire for 6% [7]. - Fitch views FERC as one of the most constructive U.S. utility regulators due to its timely cost recovery and formulaic rates of return [7].

Core Insights - Subsea 7 S.A. has been awarded a substantial contract by Synera Renewable Energy for the transport and installation of inter-array cables for the Formosa 4 Wind Farm, with the contract value estimated between $150 million and $300 million [1][3]. - The Formosa 4 offshore site will have a capacity of 495 MW and will consist of 35 wind turbine generators, with offshore works expected to start in 2028 [2]. - Seaway7 has also been selected as the preferred contractor for the Formosa 6 project, which involves the transport and installation of 57 inter-array cables, with contract finalization anticipated in 2026 [3]. Company Overview - Subsea 7 is recognized as a global leader in delivering offshore projects and services, focusing on creating sustainable value and being a preferred partner in the energy industry [4]. - The company has been active in the Taiwanese market since 2019, marking this as its seventh contract award in the region [3].

The cost of offshore wind has plunged over the past decade, making it increasingly competitive as a source of energy. Beyond America’s shores, fairer winds await https://t.co/DdErIyd4it ...

Core Viewpoint - The collaboration among global wind energy stakeholders, including Vaisala, aims to enhance the accuracy of offshore turbulence measurements, which is crucial for the design and operation of wind farms, ultimately improving their profitability [1][9]. Group 1: Research Project Overview - The POWSEIDOM JIP, led by France Energies Marines, focuses on developing high-performance measurement and modeling tools for assessing turbulence at offshore wind energy sites [2]. - The project aims to provide better design and operational safety for offshore wind turbines and farms through improved turbulence measurements [2]. Group 2: Technology and Methodology - Lidar technology is identified as the most suitable for understanding wind conditions at sea, offering a cost-effective and reliable alternative to traditional met masts and anemometers [3]. - The research utilized a Vaisala WindCube v2.1 profiling lidar at Planier Island, located 9 km offshore, to capture undisturbed atmospheric events relevant to floating offshore wind farms in the Mediterranean [5]. Group 3: Findings and Recommendations - The research resulted in valuable data on mean winds, turbulence intensity, and low-layer jets, which are essential for calculating turbulence forces on turbines [6][5]. - A preliminary motion compensation algorithm for measuring turbulence was developed, enhancing the accuracy of lidar measurements in dynamic sea conditions [8]. Group 4: Future Directions - The POWSEIDOM JIP continues as part of the DRACCAR-NEMO JIP initiated in 2023, indicating ongoing efforts to advance offshore wind farm operations [9].