ORSTED ACQUIRES MUSCLE SHOAL WIND FARM IN ALABAMA

Ørsted continues to expand its solar footprint via the acquisition of the 227MWac under construction Muscle Shoals solar project located in Colbert County, Alabama, in the US. Concurrent to the acquisition, Ørsted enters into a tax equity funding commitment with Wells Fargo.
The project will be Ørsted's second solar project in the US, following the decision in November 2019 to commence construction of the Permian Energy Center solar plus storage project in Texas. Following the acquisition of Muscle Shoals, Ørsted will have two solar projects totaling 647MWac of generation capacity under construction across the US along with 40MWac of storage capacity.
Muscle Shoals is expected to come online in third quarter 2021. The modules for the project will be supplied by First Solar.
The acquisition of the project, which is fully contracted under a long-term power purchase agreement with the Tennessee Value Authority (TVA), marks the first project in southeast US, an area in which we have a further pipeline of projects in development.
Vishal Kapadia, Senior Vice President & CFO Onshore, says:
"The acquisition of Muscle Shoals continues the expansion of our solar portfolio and further diversifies the geographic footprint of our asset base by establishing a foothold in the rapidly growing Southeast solar market. Once complete, Muscle Shoals will deliver high-quality contracted revenues that will provide Ørsted an attractive incremental source of stable earnings."
(Source: Orsted)

INDIA: BP AND RELIANCE TO DEVELOP BLOCK KGD6 GAS FIELDS

June 16, 2017

Reliance Industries Limited (RIL) and BP announced that they are moving forward to develop already-discovered deepwater gas fields, bringing new gas production...

Read More+
SOVCOMFLOT ICEBREAKING VESSEL NAMED STEPAN MAKAROV

June 16, 2017

On 15 June 2017, the naming ceremony took place for a new multifunctional icebreaking standby vessel (IBSBV) built to order for SCF Group. The vessel was...

Read More+
SemGroup TO ACQUIRE HOUSTON FUEL OIL TERMINAL

June 16, 2017

SemGroup Corporation has executed a definitive agreement to acquire Houston Fuel Oil Terminal Company (HFOTCO), one of the largest oil terminals in the...

Read More+
FIFTH WELL AT VLADIMIR FILANOVSKY

June 15, 2017

Russian Lukoil has completed the construction and commissioning of the fifth production well at Vladimir Filanovsky offshore field in the Caspian Sea and...

Read More+
SEITEL AND SCHLUMBERGER FORM STRATEGIC ALLIANCE IN MEXICO

June 15, 2017

Schlumberger and Seitel today announced a strategic multiclient alliance to reimage and acquire new geophysical data in key areas across onshore Mexico....

Read More+
PNG: SUCCESSFUL TEST OF MURUK-1

June 15, 2017

Exxon Mobil Corporation announced positive production well test results from the Muruk 1 sidetrack 3 well in the Papua New Guinea North Highlands located...

Read More+
WESTINGHOUSE UNVEILS EnCore NUCLEAR FUEL

June 15, 2017

Westinghouse Electric Company today formally launched its accident-tolerant fuel solution, EnCore Fuel. The announcement was made during the company’s...

Read More+
FIRST SHIP-TO-SHIP BUNKERING FOR ENGIE ZEEBRUGGE

June 14, 2017

The bunkering vessel ENGIE Zeebrugge performed in the port of Zeebrugge, Belgium, its first deliveries of LNG as a marine fuel to M/V AUTO ECO and M/V...

Read More+
SENEX STARTS PHASE 2 DRILLING ON WESTERN SURAT GAS PROJECT

June 14, 2017

Senex Energy has commenced its Phase 2 drilling campaign in the Surat Basin on its flagship Western Surat Gas Project. The campaign involves the drilling...

Read More+
ENI PROPOSES TO DRILL IN THE BEAUFORT SEA

June 14, 2017

The US Bureau of Ocean Energy Management (BOEM) announced that Eni US Operating Co. has met the regulatory requirements for its Beaufort Sea exploration...

Read More+
GAZPROM NEFT TO COOPERATE WITH HELMERICH & PAYNE

June 14, 2017

Gazprom Neft has concluded a long-term partnership memorandum on oil and gas projects in Russia with American oil services company Helmerich & Payne...

Read More+
NEL HYDROGEN INTO $53 MILLION AGREEMENT IN FRANCE

June 13, 2017

Oslo based NEL Hydrogen, a global, dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy,...

Read More+