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The EDF Group acquires a 450 MW offshore wind project in Scotland from Mainstream Renewable Power

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The EDF Group, via EDF Renewables in the United Kingdom, a joint subsidiary of
EDF Energy and EDF Energies Nouvelles, has bought the Neart na Gaoithe wind farm project
from global wind and solar developer Mainstream Renewable Power, following a competitive
bidding process.

The wind farm will generate up to 450 megawatts (MW) of renewable energy, which is
equivalent to the annual electricity provision of around 375,000 homes. It is a fully consented
offshore wind project which is located in the Firth of Forth off the east coast of Scotland. It
covers 105km squared, and has a 15 year Contract for Difference at 140 Euros (corresponding
to the indexation of the tariff of £114.39 that was set in 2012 prices), and grid connection
agreements in place. This project also benefits from a wind regime among the best in the
world.
The total investment required to deliver the project is around £1.8 billion. The
commissioning of the wind farm is planned for 2023. In line with the group’s usual practice,
the project will be open to other investors in due course.
Bruno Bensasson, EDF Group Senior Executive President responsible for Renewable
Energies and Chief Executive Officer of EDF Energies Nouvelles’ Group said, “This large-
scale new offshore project demonstrates our strong ambition in being a leading global player
in the offshore wind industry. It confirms EDF Group’s wider commitment to renewables in
countries where EDF already has a strong footprint such as the United Kingdom. The project
is consistent with the CAP 2030 strategy that aims at doubling EDF’s renewable energy
generation by 2030”.
Simone Rossi, CEO of EDF Energy said, “This is evidence of our continuing
investment and growth in Scotland, where we are the largest generator of low carbon energy.
Our operations contribute £389m to the Scottish economy every year and we employ more
than 2,800 staff and contractors. We supply 144,000 customers in Scotland.”
Mainstream Renewable Power’s Chief Executive Officer, Andy Kinsella said, “We are
very pleased to be bringing in such an established partner and supporter of the Scottish energy
industry in EDF Renewables to this vital infrastructure project for Scotland. The completion
of this sale adds to Mainstream’s global track record as the leading independent developer of
some of the most significant and complex wind and solar projects across Europe, South

America, Africa and Asia. The Neart na Gaoithe offshore wind farm has been fully developed
by Mainstream and we are delighted to be handing over this world-class project.”

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Maintenance

Fluid Solutions Introducing Fill-For-Life Capable Wind Turbine Gear Oils

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By Mike Blumenfeld, Industrial Lubricant Development and Wind Industry Specialist, ExxonMobil Product Solutions 

By Mike Blumenfeld, Industrial Lubricant Development and Wind Industry Specialist, ExxonMobil Product Solutions 

Recent supply uncertainties have meant that the pressure on wind farm operators to perform – and make the right choices – has never been greater. There’s been much talk about bigger turbines and blade recycling, but the smaller details matter too. 

Every component that moves in a wind turbine requires a lubricant to reduce friction, remove heat and prevent wear. Despite this, and the fact that operations and maintenance costs account for 18-26% of the lifetime cost of wind energy, the role played by high-performance oils and greases can sometimes be underplayed. 

The truth is that, throughout its history, advanced lubricants have been a key problem solver for the wind power sector. This is particularly true when it comes to one of the main drivers of wind turbine maintenance: the gearbox.  

A history of problem-solving 

In the 1990s, turbine and gearbox OEMs looked to lubricant formulators to help them address the problem of micropitting which was curtailing gear life. In the early 2000s, as installations in cold climates became more common, focus shifted to the need for high-viscosity index basestocks with enhanced low temperature fluidity. This heralded the invention of metallocene catalyzed PAO base stocks, or mPAO, which remain the industry standard today. 

In the 2010s, to reduce bearing failures, understanding and preventing white etching cracking (WEC) became a priority, leading to the development of Mobil SHC™ Gear 320 WT – the first lubricant certified by DNV to not contribute to the formation of WEC. 

These advancements have paved the way for better-performing, longer-lasting turbines. The next frontier lies in pushing these innovations further, towards ‘fill-for-life technology’ – an innovation that could save the wind industry billions of dollars over the next 30 years. And is already here.

Making lifetime lubrication a reality 

Over six years of intensive research, accelerated life testing, and optimisation have gone into developing a gear oil designed to last the lifetime of a wind turbine. The result is Mobil SHC™ Gear 320 WindPower, a gear oil that builds on a legacy of innovation in the field. 

Mobil SHC Gear 320 WindPower is an advanced formulation, engineered with advanced base oils and carefully selected additives to provide strong resistance to white etching cracks (WEC), micropitting, and scuffing. 

To ensure optimum performance for the lifetime of a wind turbine, ExxonMobil will supply operators with ongoing lubrication management services – advising on and supplying the appropriate top treat regime. Mobil Xtra™ WT Series top treat solutions are engineered to help extend oil life in wind turbine gearboxes, allowing customers to protect their investment while avoiding challenging oil change outs.

DNV-certified to achieve more with less 

Mobil SHC Gear 320 WindPower and Mobil Xtra™ EP WT top treat have been certified by DNV to deliver outstanding performance and protection for the lifetime of a wind turbine (DE-DNV-SE-0074-10516-1) and is now available to WT OEMs for specifications testing ahead of full commercialisation. 

Keeping a single turbine in operation can require up to 1,400 litres of lubricant. As such, this innovation will not only help reduce operational and maintenance costs. It also has the potential to support the wind industry’s sustainability ambitions by reducing oil usage and waste.

By offering lifetime oil drain interval (ODI) capability, the product can deliver an estimated 80% reduction in Global Warming Potential (GWP) when compared to a product with an ODI of 5 years

Collaborative innovation 

Today, as the demand for long drain intervals and reliable performance in extreme conditions continues to grow, the lubricants supporting the system must be able to handle larger loads from larger turbines in smaller gearboxes. And handle them for longer. 

A key driver of innovations in our Mobil™ brand is our close collaboration with industry bodies and leading OEMs to understand equipment trends and requirements, consult on lubrication system designs, and troubleshoot field lubrication challenges.  

Being an APQP4Wind Company Member, meanwhile, is an important part of our commitment to standardised quality and process simplification, guaranteeing consistent standards across the wind industry. 

Tailored solutions 

The Mobil range of high-performance synthetic oils and greases is formulated to protect critical components and enhance wind turbine availability and is supported by extensive equipment builder approvals. This explains why Mobil products are used in approx. 1 in every 4 wind turbines worldwide

To help wind customers achieve peak productivity, we also offer a full suite of services designed to help optimize equipment performance and oil drain intervals. These include Wind Turbine Gearbox Flush and Fill, start-up and cleanliness guidance, as well as Mobil Lubricant Analysis, with a program specifically tailored to wind turbine applications. 

These solutions are complemented with hands-on guidance and application expertise from the company’s team of skilled engineers, dedicated to helping wind turbine operators reach new levels of safety and environmental care, as well as productivity. 

To learn more about Mobil’s wind energy offer, visit mobil.eu/wind  

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Construction

Dominion Energy, Stonepeak Announce Closing of Sale of Noncontrolling Equity Interest In Coastal Virginia Offshore Wind Commercial Project

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Dominion Energy, Stonepeak Announce Closing of Sale of Noncontrolling Equity Interest In Coastal Virginia Offshore Wind Commercial Project

Dominion Energy, Inc. (NYSE: D), today announced that it has closed on a transaction to sell a 50% noncontrolling interest in the Coastal Virginia Offshore Wind (CVOW) commercial project to Stonepeak. Dominion Energy will retain full operational control of the construction and operations of the project, and Stonepeak will have customary minority rights. The transaction was previously announced Feb. 22, 2024.

With this transaction, Dominion Energy has now successfully completed its business review debt reduction initiatives. During the review, the company announced transactions that represent approximately $21 billion of debt reduction. With the closings of the Cove Point LNG, East Ohio Gas, Questar Gas and Wexpro, and Public Service Company of North Carolina sales; and completion of the fuel securitization at Dominion Energy Virginia and the offshore wind partnership, Dominion Energy has now achieved 100% of the business review target. These actions have improved the company’s balance sheet, reduced its risk profile, and established a renewed focus as a pure-play, state-regulated electric utility business.

Robert M. Blue, Dominion Energy chair, president and chief executive officer, said:

“We are pleased to partner with Stonepeak on CVOW, which continues to proceed on-time and on-budget, consistent with our previously communicated timing and cost expectations. Stonepeak is one of the world’s largest infrastructure investors in large energy projects such as offshore wind, and its financial participation in CVOW will benefit both the project and the people who will rely on electricity from CVOW to keep the lights on and fuel economic growth in the Commonwealth.

” Rob Kupchak, senior managing director at Stonepeak, added:

“We are excited to have closed this investment in CVOW, which exemplifies many of the core tenets of essential infrastructure that we invest behind at Stonepeak. We look forward to continuing our partnership with Dominion Energy’s talented team to bring what promises to be one of the most impactful energy projects in the United States to commercial operation.

” The 2.6-gigawatt CVOW, the largest offshore wind farm currently under construction in the United States, is on schedule to generate enough clean, renewable energy to power up to 660,000 homes once fully constructed in late 2026. CVOW will consist of 176 turbines and three offshore substations in a nearly 113,000-acre lease area off the coast of Virginia Beach.

At closing, Dominion Energy received proceeds of $2.6 billion, representing reimbursement of approximately 50% of project-to-date capital investment. Stonepeak will fund 50% of remaining project costs as they are incurred, subject to certain conditions as previously disclosed

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Consulting

DNV tapped to help lenders and investors assess USD 40 billion worth of U.S. offshore wind projects

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DNV tapped to help lenders and investors assess USD 40 billion worth of U.S. offshore wind projects

DNV is performing due diligence to enable the financing of eight offshore wind projects on the United States’ Atlantic Coast. The announcement follows news from DNV’s Energy Transition Outlook 2024 report, which forecasts that about 10 GW of fixed offshore wind is set to be installed in the U.S. between 2040 and 2050. While the industry has seen headwinds recently, and the latest Energy Transition Outlook has tempered its overall forecast for offshore wind, projects are still moving steadily forward, as reflected by the robust financing activity in the U.S. The offshore wind projects DNV is assessing collectively represent 13 GW of clean energy capacity, which would increase the U.S.’s total wind power capacity by nearly 9% if they become operational.

The technical due diligence DNV is providing to the financial stakeholders for these offshore wind projects is grounded in sound engineering judgement which is very important for developers, lenders and investors. This methodology is an evolution of the company’s proven approach that has enabled on-time financing for thousands of onshore wind, solar, transmission and battery energy storage projects in the U.S. and Canada.

DNV has also established local, in-house expertise around the intricacies of U.S. project finance and the structures that have emerged since the passage of the Inflation Reduction Act (IRA), such as transferability. Many stakeholders in the U.S. offshore wind industry are headquartered in Europe and rely upon DNV for its on-the-ground knowledge of the U.S. financing landscape. For these eight offshore wind projects, DNV is providing pre-commitment and construction monitoring due diligence to ensure all stakeholders understand the risks of the project prior to final investment decision and further capitalize on tax credit monetization opportunities from the IRA. These services are delivered within established financing mechanisms and  processes to ensure on-time closing.

“So far, three of the eight offshore wind projects we’re involved with have reached a final investment decision and the balance is making rapid progress towards this milestone. Our customers are now getting steel in the water and creating benefits for local communities,” said Richard S. Barnes, region president for Energy Systems North America. “We’ve learned that the offshore wind projects getting financed and moving into the development and construction stages are the ones where developers can hit narrow installation windows because they’ve identified and mitigated risks around vessel availability, supply chain, and evolving regulatory requirements.

” DNV’s U.S.-based offshore wind team enabled clients to succeed in California’s 2022 offshore auction, providing in-depth assessments of the technical, societal, and environmental risks around offshore wind development in Oregon and Maine, and are addressing barriers on behalf of the industry to accelerate the deployment of high voltage direct current (HVDC) technology. This regional team is backed up by a global network of experts that has assessed 50 GW of offshore wind energy.

“DNV uses our advisory expertise to help offshore wind projects increase performance and minimize risks. Success relies on understanding the dependencies between different parts of the offshore wind value chain – this is why we take a full lifecycle approach to managing risks and reducing costs,” concluded Barnes.

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