The latest renewable energy news includes announcements on CIMC Raffles, Hornsea 3 Wind Farm, UK’s Energy Wealth Fund, and others.
China Launches Semi-Submersible Offshore Wind-to-Hydrogen Production Platform
Chinese offshore engineering company CIMC Raffles has launched the Shenhai Hydrogen Energy No. 1 semi-submersible platform, integrating offshore wind electricity with hydrogen production technology. The platform was launched on October 13 in Jiangmen, Guangdong Province, with further project details reported October 21. The installation incorporates a proton exchange membrane electrolyser, three hydrogen storage systems and both grid-connected and off-grid electricity operating modes. Remote monitoring technology supports unattended operations. CIMC said the platform has completed onshore process-system installation and commissioning and obtained classification and statutory maritime inspection approvals. The project is being prepared for deployment in the South China Sea. Electrolyser capacity, hydrogen production volumes and total investment were not disclosed.
UK Launches £3.5 Billion Tender for Offshore Transmission Assets Connecting 2.9 GW Hornsea 3 Wind Farm
British energy regulator Ofgem has launched a tender for offshore transmission infrastructure associated with the 2.9 GW Hornsea 3 offshore wind project. Announced October 21, the tender has an estimated asset value of £3.5 billion, making it the largest round under the UK’s Offshore Transmission Owner framework. Investors will compete to acquire and operate the transmission assets, including offshore and onshore substations and electricity export cables. Hornsea 3 is located more than 100 kilometres offshore in the North Sea and is expected to be completed by the end of 2027. The wind farm is projected to generate electricity equivalent to consumption by approximately 3.3 million UK households. Successful bidders will receive regulated, inflation-linked revenue.
UK Announces £2 Billion Energy Wealth Fund to Support Renewable Energy and Low-Carbon Infrastructure
The UK government has announced the establishment of a new £2 billion Energy Wealth Fund to support renewable-energy development and low-carbon infrastructure. Announced October 21, the initiative will use tax revenues generated from North Sea oil and gas production to finance the country’s energy transition. The initial £2 billion funding allocation is intended to support renewable electricity, emerging energy technologies and industrial supply chains. Additional resources could be contributed from future North Sea revenues. The announcement accompanied approval for gas production at the Jackdaw field, but the fund’s investment mandate focuses on renewable and low-carbon energy projects. Specific funding recipients, project allocations, financing structures and disbursement schedules have not yet been announced.