Dutch engineering company Royal Boskalis Westminster has been awarded an offshore wind contract in Taiwan and pipeline installation contract in Denmark. In Taiwan, the company will provide scour protection for the wind turbine foundations of the Yunlin offshore windfarm. This will involve the installation of rocks on the seabed around 71 monopile foundations. The contract Euronext by Yunneng Wind Power Company, the developer of the windfarm. Yunlin will have a capacity of 640MW when it is...

Nigerian oil and gas company Seplat has completed its purchase of Aberdeen based company Eland Oil & Gas for £382m. The deal was first announced in October 2019, with Seplat valuing Eland at 166p a share. Following that announcement, the acquisition had to be approved by 75% of Eland shareholders. It also had to be sanctioned by a court under part 26 of the Companies Act of 2006, which was agreed on 12 December. With every procedure now completed, Seplat has become the official owner of...

As 2019 comes to an end, how does Energy M&A activity in the power and oil and gas sectors compare to previous years? And what does 2020 hold for the industries? To answer this Power Technology spoke to two members of US legal firm Sidley Austin LLP about the future of deals in the US power and oil and gas markets in the presidential election year. We discussed the importance of the energy and climate debate as the US goes to the polls in 2020, along with problems in the natural gas...

China’s State Grid International Development (SGID) has signed an agreement to acquire a 49% stake in Oman Electricity Transmission (OET). The fee for the transaction is believed to be just under $1bn, giving OET an initial valuation of $2bn. The deal is part of China’s “Belt and Road” initiative to invest in infrastructure projects in Asia and the Middle East. It was signed in Muscat, the capital city of Oman, on 15 December by SGC general manager Xin Baoan, China’s ambassador to Oman Li...

The European Investment Bank (EIB) has agreed to cease funding fossil fuel energy projects by the end of 2021 as part of its “increased ambition in climate action and environmental sustainability.” The bank has outlined its five principles for future energy sector investment, which include prioritising energy efficiency under the new EU target in the EU Energy Efficiency Directive. It will also increase support for low and zero-carbon projects to meet a 32% share in renewable energy across...