First Half 2023 Global Wind Turbine Orders Hit 70GW According to Wood Mackenzie

1.) First half 2023 global wind turbine orders hit 70GW according to Wood Mackenzie, up 12% year-over-year.

2.) Massachusetts opens fourth offshore solicitation – at a record 3.6 GW – with bids due by end of January 2024 and projects to be selected by June.

3.) Meanwhile, two projects from its previous solicitations have been canceled owing to a major shift in the macroeconomic environment, with 2,400 MW of projects canceled and developers paying a total of $108 million to exit contractual commitments.

4.) Offshore developers in New York seek average 48% increase in contract prices, to an average $167.25/MWh. Developer Orsted just announced a possible $2.3 billion impairments to earnings based on the exposure of its U.S. offshore portfolio.

5.) The much-heralded wind lease auction in the Gulf of Mexico is a bust, with a single winning $5.6 mn bid from RWE for acreage off Louisiana, and two lease areas off of Texas receiving zero interest.

6.) Hyundai and LG Energy Solution plan to invest an additional $2 billion to manufacture batteries at Hyundai’s Georgia EV plant.

7.) The Biden Administration will offer $15.5 bn to help U.S. automakers convert existing factories to compete in the EV revolution.

8.) The Defense Logistics Energy Agency designates Oklo as the pending contractor awardee to design, construct, own, and operate a micro-reactor at Alaska’s Eielson Air Force Base in a long-term power purchase agreement.

9.) Arizona utility Salt River Project and long-duration, non-lithium energy storage system company CMBlu Energy announce pilot for a 5MW/50 MWh to be built near Phoenix. Project is due to come online by December of 2025.

10.) Singapore’s Bila Solar to open 1GW solar module manufacturing plant in Indianapolis. Its lightweight module is flexible and useful in locations where modules cannot typically be installed.

11.) Battery recycling company Redwood Materials scores another $1bn in Series D round, to be used for further capacity expansions.