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HAMILTON, Bermuda--(BUSINESS WIRE)--In Fortführung der laufenden Nachhaltigkeitsbemühungen ist Bacardi Limited stolz darauf, die Empfänger ihrer 5. jährlichen Bacardi Limited „Good Spirited“-Auszeichnungen bekannt zu geben. Die im Jahr 2014 ins Leben gerufenen Auszeichnungen würdigen die Mitarbeiter, Teams und Einrichtungen des globalen Netzwerks des Unternehmens, die die besten Umweltprogramme in fünf verschiedenen Kategorien entwickelt haben: Produktionsstätte, Markeninnovation, nachhaltiges Büro, Grüne Champions oder Partnerschaften. Die diesjährigen Gewinner initiierten Programme zur Umstellung auf erneuerbare Energien, zur Reduzierung des Wasserverbrauchs und der Abfallmenge, zur Erhöhung der Recyclinganstrengungen und zur Verstärkung der Kampagne „Keine Strohhalme“ von Bacardi Limited, um die Menge der Einweg-Plastikhalme in den nächsten zwei Jahren um eine Milliarde zu senken. Die Auszeichnungen würdigen Aktivitäten, die zwischen dem 1. April 2018 und dem 31. März 2019 stattgefunden haben.

„Die Good-Spirited-Auszeichnungen von Bacardi Limited unterstreichen die Basis und Unterstützung der globalen Bemühungen des Unternehmens um ökologische Nachhaltigkeit an unseren Standorten und in unseren Gemeinden“, sagt Rick Wilson, Senior Vice President für Unternehmerische Verantwortung (Corporate Responsibility) bei Bacardi Limited. „Es macht uns sehr stolz, nicht nur Teil eines Unternehmens zu sein, das aktiv auf sein Ziel hinarbeitet, eine Netto-Nullbelastung zu erzielen, sondern auch die immensen Anstrengungen zu sehen, die unsere Kollegen weltweit unternommen haben, um die Umwelt für kommende Generationen zu verbessern.“

Die Good-Spirited-Initiativen von Bacardi Limited bieten dem Unternehmen sofortige und umsetzbare Pläne zur Förderung langfristiger Umweltverbesserungen in den Bereichen operativer Betrieb, globale Verpackung und verantwortungsvolle Beschaffung, um Treibhausgasemissionen und Wasserverbrauch zu reduzieren. Vor dreizehn Jahren begann Bacardi Limited, seine globalen Auswirkungen auf die Umwelt zu verfolgen, um ihr Ziel zu erreichen, eine Netto-Nullbelastung zu erreichen, was bedeutet, dass sie darauf abzielt, der Umwelt mindestens so viel zurückzugeben, wie sie wegnimmt.

Die Gewinner der Good-Spirited-Auszeichnungen von Bacardi Limited sind:

Arandas/Tultitlán, Mexiko, Ökostrom – Produktionsstätte – Sieger: Bacardi in Mexiko garantierte, dass der Stromverbrauch in den Anlagen in Arandas und Tultitlán zu 100 % aus erneuerbaren Ressourcen, insbesondere aus Windparks, stammt. Mit der Lieferung von Strom aus erneuerbaren Quellen beseitigten die beiden Werke ihre indirekten CO2-Emissionen und vermieden so den Ausstoß von 2.795 Tonnen CO2, was den Emissionen von 417 Kleinwagen für ein Jahr entspricht. Bacardi in Mexiko ist als Beispiel für eine umweltgerechte Führungsposition bekannt. Im Jahr 2015 installierte die Anlage in Arandas einen Biomassekessel, mit dem mehr als 80 % der CO2-Emissionen reduziert werden konnten. Bacardi in Mexiko ist stolz darauf, dass 2019 100 % der indirekten CO2-Emissionen durch den Einsatz von erneuerbarem Strom eliminiert wurden.

Hacienda PATRÓN, Mexiko, Wasserwiederverwendung – Produktionsstätte – Ehrenvolle Erwähnung: Hacienda PATRÓN widmete sich der Wiederverwendung von Wasser. Durch die Einführung intelligenterer Verfahrensweisen auf vier Plattformen, nämlich Tequila-Produktion, Spirituosenproduktion, Gartenpflege und Abwasserbehandlung, konnte das Team im vergangenen Jahr 10.108 Kubikmeter Wasser wiederverwenden.

Tultitlán, Mexiko, Öko-Labeling – Markeninnovation oder -aktivität – Sieger: Das Tultitlán-Team stellte sicher, dass 100 % der in der Anlage erzeugten Kartonmaterialien recycelt wurden, als Teil ihres Engagements für die Nachhaltigkeit ihrer operativen Geschäftstätigkeit und der Minimierung ihres ökologischen Fußabdrucks. Die Anlage recycelte 463.640 kg Karton und erhielt das Umweltzeichen Mariposa Monarca – das ein Produkt oder eine Organisation kennzeichnet, das/die den Umweltstandards entspricht.

MARTINI Royale Ready-to-Serve-Gewichtsreduktion – Markeninnovation oder -aktivität – Ehrenvolle Erwähnung: Durch die Arbeit an leichten Veränderungen an Durchmesser und Halsprofil, die für den Endkunden nicht sichtbar sind, hat das MARTINI-Team am Standort der Marke in Pessione, Italien, das Gewicht eines neuen Flaschendesigns für MARTINI Royale Ready-to-Serve (RTS) deutlich reduziert. Die Gewichtsreduzierung bedeutet weniger Energieaufwand bei der Herstellung und dem Transport der Behälter vom Hersteller zum Verbraucher.

Meyrin, Schweiz – Nachhaltiges Büro – Sieger: Angetrieben vom Grüne-Team in Genf, setzen Büroausbauten den Standard, um die Umwelt positiv zu beeinflussen. Neben Maßnahmen wie der Installation von LED-Röhren, der Reduzierung des Temperatursollwerts und dem Verzicht auf die Verwendung von Kunststoffbechern im gesamten Büro, war das Carsharing-Programm für Pendler sowohl im Genfer Büro als auch am Standort Pessione in Italien am sichtbarsten und wirkungsvollsten.

Escazú, Costa Rica – Nachhaltiges Büro – Ehrenvolle Erwähnung: Durch eine sorgfältig durchgeführte Recycling-Kampagne nahmen mehr als 100 Mitarbeiter im Büro in Costa Rica an Programmen zur Abfallreduzierung teil. Ein Mitarbeiterteam von Befürwortern sozialer Verantwortung hat sich mit der lokalen Regierung zusammengeschlossen, um Trainingsworkshops zu den Umweltauswirkungen von Abfällen durchzuführen. Die Schulung umfasste die Schulung der Mitarbeiter über die Arten der Klassifizierung von recycelbaren Materialien sowie die Sensibilisierung für die Umweltfolgen von Einmalverpackungen. Die Kampagne sammelte Hunderte von Aluminiumdosen, Tetra-Packungen, Kunststoffflaschen und Glasflaschen.

Andrea Ferrera, Pessione, Italien – Grüne Champions – Sieger: Im vergangenen Jahr hat das Pessione-Operations-Center in Italien unter der direkten Verantwortung von Andrea Ferrera, Umwelt- und Facility-Managerin, seine Umweltziele übertroffen. Andrea hat nicht nur die Performance im Laufe des Jahres genau überwacht, sondern auch bahnbrechende Projekte geleitet, in denen neue Funktionen und Systeme installiert wurden, die den Gesamtbetrieb der Anlage verbessern.

Tultitlán, Mexiko – Grüne Champions – Ehrenvolle Erwähnung: Im Rahmen einer Verpflichtung zum Umweltschutz hat das Projektteam eine Möglichkeit zur Reduzierung und Wiederverwendung von Abfällen bei der Annahme von Rohstoffen und dem Versand von Endprodukten entwickelt. Durch die Optimierung der Strategie zur Optimierung des Kartoneinsatzes in neuen Verpackungsprozessen konnten sie den Ausschuss um mehr als 5.000 Stück Material reduzieren, indem sie die gleiche Menge für den Versand des Produkts wiederverwendeten.

China „Keine Strohhalme“ & Lonely Whale – Partnerschaft – Sieger: „The Future Doesn't Suck“ (Die Zukunft nervt nicht), eine globale Zusammenarbeit zwischen Bacardi Limited und der preisgekrönten Non-Profit-Organisation Lonely Whale, wurde im vergangenen September auf dem chinesischen Markt erstmals eingeführt, um das globale Ziel zu unterstützen, die Anzahl der Einweg-Plastikhalme bis 2020 um eine Milliarde zu reduzieren. Innerhalb eines Monats hatte diese „Keine Strohhalme“-Kampagne für China fast 6,35 Millionen Nachahmer und integrierte erfolgreich große Hotelketten und Restaurants in die Bewegung. Diese „Keine Strohhalme“-Kampagne gewann auch das erste Sustainability Year (Nachhaltigkeitsjahr), das unter The DRiNK Magazine Bar Awards 2018 vorgestellt wurde.

MARTINI Operations Center & MAIDER – Partnerschaft – Ehrenvolle Erwähnung (Gleichstand): Das MARTINI Operations Center hat in Zusammenarbeit mit MAIDER IBC, dem führenden individuellen Aufbereiter für Schüttgutcontainer, gebrauchte einzelne Schüttgutcontainer verwaltet und recycelt. Die Vereinbarung führt zu positiven Ergebnissen bei der Abfallreduzierung, dem Recycling, der Kostensenkung und der Nachhaltigkeit.

Cataño & Wildlife Habitat Council – Partnerschaft – Ehrenvolle Erwähnung (Gleichstand): Im September 2018 erhielt die Bacardi Corporation das „Wildlife Habitat Council Conservation“-Zertifikat – und ist damit die erste Organisation in Puerto Rico, die diesen Status erreicht hat. Ein Projekt zur Sensibilisierung für den Schutz von Fledermäusen bestand darin, Mitarbeiter und Besucher über Fledermäuse und ihren Beitrag zur Umwelt aufzuklären. Die Initiative war auch der Beginn der laufenden Wiederherstellung des natürlichen Waldgebietes in der Nähe der Vorderseite des Campus von Bacardi, in dem heute vier der acht Fledermaushäuser auf dem Gelände untergebracht sind. Die Wiederaufforstungsmaßnahmen werden den Stellenwert des Gebiets für Vögel, Fledermäuse und andere Wildtiere vor Ort erhöhen.

Die Bemühungen der Bacardi-Mitarbeiter sind eng mit dem Umweltziel des Unternehmens verbunden, nämlich der Umwelt mindestens so viel zurückzugeben, wie wir ihr wegnehmen. Das Unternehmen hat sich für 2025 (gemessen an einem Basiswert von 2015) Ziele gesetzt, um den Wasserverbrauch um 25 % zu senken, 50 % des in das Endprodukt eingeflossenen Wassers wieder zu ersetzen, die absoluten Treibhausgasemissionen um 50 % zu reduzieren und die absoluten Treibhausgasemissionen in der Wertschöpfungskette um 20 % zu reduzieren (beide Ziele wurden von der Initiative „Science Based Targets“ [Wissenschaftsbasierte Ziele] genehmigt). Darüber hinaus hat sich Bacardi verpflichtet, bis 2022 an allen Produktionsstandorten keine Abfälle mehr zu deponieren, wobei der Schwerpunkt auf der Vermeidung von Einweg-Plastikhalmen und der Entwicklung von Reduktionsmaßnahmen für Einweg-Plastik in allen Bereichen der Produktion und Lieferkette liegt.

Um mehr über Bacardi Limited und seine „Good Spirited: Building a Sustainable Future“-Umweltinitiative (Good Spirited: Aufbau einer nachhaltigen Zukunft) für die gesamte Bacardi Limited Familie von Premium-Spirituosen und Weinmarken zu erfahren, besuchen Sie http://www.bacardilimited.com/good-spirited.

Über Bacardi Limited

Bacardi Limited, das weltweit größte Spirituosenunternehmen in privatem Besitz, produziert und vertreibt eine Reihe international bekannter Spirituosen und Weine. Das Markenportfolio von Bacardi Limited umfasst mehr als 200 Marken und Namen, darunter BACARDÍ® Rum, GREY GOOSE® Wodka, PATRÓN® Tequila, DEWAR’S® Blended Scotch Whisky, BOMBAY SAPPHIRE® Gin, MARTINI® Wermut und Schaumweine, CAZADORES® 100-prozentig reiner Tequila aus blauen Agaven sowie weitere führende und neue Marken wie WILLIAM LAWSON’S® Scotch Whisky, ST-GERMAIN® Holunderblütenlikör und ERISTOFF® Wodka.

Das vor mehr als 157 Jahren am 4. Februar 1862 in Santiago de Cuba gegründete Familienunternehmen Bacardi Limited beschäftigt derzeit mehr als 7.000 Mitarbeiter, betreibt mehr als 20 Produktionsstätten inklusive Abfüllungs-, Destillations- und Herstellungs-Anlagen in elf Ländern und verkauft seine Marken in über 170 Ländern. Bacardi Limited bezeichnet die Bacardi-Firmengruppe, zu der auch Bacardi International Limited gehört. Besuchen Sie www.bacardilimited.com oder folgen Sie uns auf Twitter @BacardiLimited oder Instagram @BacardiLimited1862.

GENIEßEN SIE VERANTWORTUNGSBEWUSST.

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  • The clean energy giant signs a strategic cooperation contract with Deuter to co-develop solar backpacks for global market
  • The duo to adopt dual brand strategy to promote their upcoming solar backpacks

- The world’s largest thin-film power solution company, Hanergy Thin Film Power Group (00566.hk), today announced that it has signed an agreement for a strategic co-operation with Deuter, one of the leading backpack brands worldwide, to collaboratively design and develop solar backpacks for the global market.

According to the strategic cooperation contract, Hanergy will be responsible for the development and the design of thin film flexible components, Deuter will take the onus for the design and the production of the bags globally. The duo will adopt co-brand strategy to promote their upcoming solar backpacks.

Hanergy Joins Hands With Deuter To Develop Solar Backpacks Image 2

Deuter is a German brand of sport packs and bags, for hiking, trekking, snow sports and other uses.  Founded in 1898, Deuter has been pioneering premium outdoor equipment market for over 120 years. 

Robert Schieferle, VP, Deuter said, “We're delighted to collaborate with Hanergy, and together embark on a new journey to introduce our co-branded solar backpacks in the global market. The partnership is intended towards leveraging the expertise of both the companies in their respective fields. We’re confident that with Hanergy’s high efficiency and reliable thin film flexible components our upcoming solar backpacks will set a new benchmark in the market."

Hanergy’s solar cells set the world record for conversion efficiency several times, with the newest one being 29.1%. It launched and upgraded handful of consumer products in 2018, including Humbrella, solar-powered umbrella; SolarTank, solar backpack; HanPower, solar power bank, retaining its leading position in mobile energy sector.

Commenting on the collaboration with Deuter, Mr. Wang Zhongshuang, CEO, Hanergy German Company said, “Partnering with Deuter we intend to take the notch up in the solar backpack category and bring in a fresh approach to the design while retaining the energy efficiency quotient of the product. We’re extremely confident that the consumers will appreciate our upcoming solar backpack which is an amalgamation of great aesthetics and technology.”

Earlier last week Hanergy had participated at the 2019 Intersolar Europe Exhibition, a world’s leading exhibition for the solar industry and its partners to feature its path-breaking energy solutions. As part of a three-day conference and exhibition that's being held at Messe München Exhibition Centre, Munich, Germany from May 15 - 17, 2019, Hanergy showcased most promising solar solutions, covering a wide span of life-related scenarios.

HAMILTON, Bermuda--(BUSINESS WIRE)--In continuation of its ongoing sustainability efforts, Bacardi Limited is proud to announce the recipients of its 5th annual Bacardi Limited Good Spirited Awards. Launched in 2014, the awards recognize the employees, teams and facilities across the company’s global network that developed the best environmental programs across five different categories: Production Facility, Brand Innovation, Sustainable Office, Green Champions or Partnerships. This year’s winners instituted programs to shift to renewable energy, reduce water use and waste, increase recycling efforts and amplify the Bacardi Limited No Straws campaign to decrease the amount of single-use plastic straws by one billion over the next two years. The awards acknowledge activities that took place between April 1, 2018 and March 31, 2019.

“Bacardi Limited’s Good Spirited Awards truly underscore the company’s foundation and support of global environmental sustainability efforts at our facilities and in our communities,” says Rick Wilson, Senior Vice President of Corporate Responsibility for Bacardi Limited. “It brings great pride to not only be a part of a company that is actively working towards its goal of net-zero impact, but also to see the immense effort our global colleagues have put into improving the environment for future generations to come.”

The Bacardi Limited Good Spirited initiatives provide the company with immediate and actionable plans to facilitate long-term environmental improvements across operations, global packaging and responsible sourcing to reduce greenhouse gas emissions and water use. Thirteen years ago, Bacardi Limited began tracking its global impact on the environment to reach its net-zero impact goal, which means that it aims to put back into the environment at least as much as it takes away.

The Bacardi Limited Good Spirited Award winners are:

Arandas/Tultitlán, Mexico, Green Energy – Production Facility – Winner: Bacardi in Mexico guaranteed that electrical consumption in Arandas and Tultitlán facilities come from 100% renewable resources, specifically from wind farms. With the supply of electricity from renewable sources, the two facilities eliminated their indirect CO2 emissions, avoiding the emission of 2,795 tons of CO2, equivalent to the emissions generated by 417 compact cars for one year. Bacardi in Mexico has been known as an example of environmental leadership. In 2015, the Arandas facility installed a biomass boiler achieving a reduction of more than 80% of CO2 emissions. Now in 2019, Bacardi in Mexico is proud to report that 100% of indirect CO2 emissions were eliminated by using renewable electricity.

Hacienda PATRÓN, Mexico, Water Reuse – Production Facility – Honorable Mention: Hacienda PATRÓN dedicated their efforts to the reuse of water. Initiating smarter practices across four platforms, tequila production, liquors production, garden maintenance, and treatment wastewater, the team was able to reuse 10,108 cubic meters of water in the last year.

Tultitlán, Mexico, EcoLabeling – Brand Innovation or Activity – Winner: The Tultitlán team assured 100% of cardboard materials generated at the facility were recycled as part of their commitment to the sustainability of their operations and the minimization of their environmental footprint. The facility recycled 463,640Kg of cardboard, earning the Mariposa Monarca eco-label – which identifies a product or organization compliant with environmental standards.

MARTINI Royale Ready-to-Serve Weight Reduction – Brand Innovation or Activity – Honorable Mention: By working on slight changes on diameter and neck profile not visible to the final customer, the MARTINI team at the home of the brand in Pessione, Italy, team significantly decreased the weight of a new bottle design for the MARTINI Royale Ready-to-Serve (RTS). The weight reduction signifies less energy required to produce and transport the containers from the manufacturer then to the consumer.

Meyrin, Switzerland – Sustainable Office – Winner: Driven by the Green Team in Geneva, office enhancements set the standard to make a positive impact on the environment. Among actions including LED tube installation, temperature set point reduction, and no more usage of plastic cups office-wide, the car sharing program for commuters to both the Geneva office and to the Pessione site in Italy, reigned the most visible and impactful.

Escazú, Costa Rica – Sustainable Office – Honorable Mention: Through a well-executed recycling campaign, more than 100 employees in the Costa Rica office participated in waste reduction programs. An employee team of social responsibility advocates joined forces with the local government, to give training workshops on the environmental impact of waste. Training included teaching employees the types of classification that recyclable materials have, as well as raising awareness of the environmental consequences of one-time packaging. The campaign collected hundreds of aluminum cans, tetra packs, plastic bottles and glass bottles.

Andrea Ferrera, Pessione, Italy – Green Champions – Winner: This past year, the Pessione Operations Center in Italy over delivered its environmental targets under direct responsibility of Andrea Ferrera, environment and facility manager. Andrea is instrumental not only in closely monitoring performance along the year but also in managing breakthrough projects installing new features and systems improving the overall operation of the facility.

Tultitlán, Mexico – Green Champions – Honorable Mention: As part of an environmental protection commitment, the project team designed a way to reduce and reuse waste during reception of raw materials and finished goods shipping. Streamlining the strategy to optimize cardboard use in new packaging operations, they were able to reduce waste of more than 5,000 pieces of material by reusing the same quantity to ship the product.

China No Straws & Lonely Whale – Partnership – Winner: The Future Doesn’t Suck, a global collaboration between Bacardi Limited and the award-winning non-profit organization Lonely Whale, was first introduced to the China market last September to support the global goal of reducing single-use plastic straws by one billion by 2020. Within a month, this China No Straws campaign had nearly 6.35 million impressions and successfully onboarded large hotel chains and restaurants to the movement. This No Straws campaign also won the first Sustainability Year presented at The DRiNK Magazine Bar Awards 2018.

MARTINI Operations Center & MAIDER – Partnership – Honorable Mention (tie): The MARTINI Operations Center collaborated with MAIDER IBC, the leading individual bulk container reconditioner, to manager and recycle used individual bulk containers. The agreement ushers in favorable results in waste reduction, recycling, cost reduction, and sustainability.

Cataño & Wildlife Habitat Council – Partnership – Honorable Mention (tie): In September 2018, Bacardi Corporation achieved the Wildlife Habitat Council Conservation Certification – making it the first organization in Puerto Rico to achieve this status. A Bats Conservation Awareness project consisted of educating employees and visitors about bats and their contribution to the environment. The initiative also marked the beginning of the Bacardi facility’s ongoing restoration of the natural forest area near the front of the campus, which is now home to four of the eight bat houses on property. The reforestation efforts will enhance the area’s value to birds, bats and other wildlife on site.

The efforts of Bacardi people are closely aligned to the company’s environmental goal which is to return to the environment at least as much as we take away. The company has set targets for 2025 (measured against a 2015 baseline) to reduce water consumed by 25%; to replenish 50% of water incorporated into the final product; and to reduce absolute GHG emissions by 50% and to reduce absolute value chain GHG emissions by 20% (both targets approved by the Science Based Targets Initiative). In addition, Bacardi has committed to zero-waste-to-landfill at all manufacturing sites by 2022, a focus on eliminating single-use plastic straws and developing single-use plastic reduction across operations and supply chain.

To learn more about Bacardi Limited and its “Good Spirited: Building a Sustainable Future” environmental initiative across the entire Bacardi Limited family of premium spirits and wine brands, visit http://www.bacardilimited.com/good-spirited.

About Bacardi Limited

Bacardi Limited, the largest privately held spirits company in the world, produces and markets internationally recognized spirits and wines. The Bacardi Limited brand portfolio comprises more than 200 brands and labels, including BACARDÍ® rum, GREY GOOSE® vodka, PATRÓN® tequila, DEWAR’S® Blended Scotch whisky, BOMBAY SAPPHIRE® gin, MARTINI® vermouth and sparkling wines, CAZADORES® 100% blue agave tequila, and other leading and emerging brands including WILLIAM LAWSON’S® Scotch whisky, ST-GERMAIN® elderflower liqueur, and ERISTOFF® vodka.

Founded more than 157 years ago, in Santiago de Cuba on February 4, 1862, family-owned Bacardi Limited currently employs more than 7,000, operates more than 20 production facilities, including bottling, distilling and manufacturing sites in 11 countries, and sells its brands in more than 170 countries. Bacardi Limited refers to the Bacardi group of companies, including Bacardi International Limited. Visit www.bacardilimited.com or follow us on Twitter @BacardiLimited or Instagram @BacardiLimited1862.

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ABERDEEN, Scotland--(BUSINESS WIRE)--Highlights

For the three months ended March 31, 2019, KNOT Offshore Partners LP (“KNOT Offshore Partners” or the “Partnership”):

  • Generated total revenues of $70.5 million, operating income of $32.4 million and net income of $12.9 million
  • Generated quarterly Adjusted EBITDA of $54.8 million1
  • Generated quarterly distributable cash flow of $25.7 million1
  • Reported a distribution coverage ratio of 1.432
  • Fleet operated with 99.8% utilization for scheduled operations

Other events:

  • On May 14, 2019, the Partnership obtained approval to extend the maturity of its $25 million unsecured revolving credit facility maturing in August 2019 with the same commercial terms. The refinancing is expected to close in June, 2019.
  • On May 15, 2019, the Partnership paid a cash distribution of $0.52 per common unit with respect to the quarter ended March 31, 2019 to all common unitholders of record on May 2, 2019. On May 15, 2019, the Partnership also paid a cash distribution to the Series A Preferred unitholders with respect to the quarter ended March 31, 2019 in an aggregate amount equal to $1.8 million.

Financial Results Overview

Total revenues were $70.5 million for the three months ended March 31, 2019 (the “first quarter”) compared to $70.9 million for the three months ended December 31, 2018 (the “fourth quarter”). The decrease was mainly related to two less operational earnings days for the fleet in first quarter. The decrease was partly offset by the full earnings for the first quarter for both Ingrid Knutsen and Torill Knutsen as a result of the completion of their scheduled first special survey drydockings during the fourth quarter.

Vessel operating expenses for the first quarter of 2019 were $14.5 million, an increase of $0.3 million from $14.2 million in the fourth quarter of 2018. The increase was mainly due higher operating costs on average for the fleet due to the strengthening of the Norwegian Kroner (NOK) against the U.S Dollar. The increase was partially offset by decreased costs for the Ingrid Knutsen, which finished its scheduled drydocking in the end of the fourth quarter.

General and administrative expenses were $1.3 million for the first quarter of 2019, which is unchanged from the fourth quarter of 2018.

Depreciation was $22.4 million for the first quarter of 2019, a decrease of $0.1 million from $22.5 million in the fourth quarter of 2018. The decrease is mainly due to decreased depreciation for the Ingrid Knutsen and the Torill Knutsen due to drydock additions in the fourth quarter of 2018.

As a result, operating income for the first quarter of 2019 was $32.4 million compared to $33.0 million in the fourth quarter of 2018.

Interest expense for the first quarter of 2019 was $13.7 million, an increase of $0.3 from $13.4 million for the fourth quarter of 2018 due to higher LIBOR on average for all credit facilities.

As a result, net income for the first quarter of 2019 was $12.9 million compared to $8.8 million for the fourth quarter of 2018.

Net income for the first quarter of 2019 decreased by $17.8 million from net income of $30.7 million for the three months ended March 31, 2018 to net income of $12.9 million for the three months ended March 31, 2019. The operating income for the first quarter of 2019 increased by $0.5 million compared to operating income of $31.9 million in the first quarter of 2018, mainly due to increased earnings from the Anna Knutsen being included in the Partnership’s results of operations from March 1, 2018. Total finance expense for the first quarter of 2019 increased by $18.4 million compared to finance expense $1.1 million for the first quarter of 2018. The increase was mainly due to increased loss on realized and unrealized loss on derivative instruments and increased interest expense due to additional debt in connection with the acquisitions of the Anna Knutsen and a higher LIBOR on average.

Realized and unrealized loss on derivative instruments was $5.9 million in the first quarter of 2019, compared to a loss of $10.9 million in the fourth quarter of 2018. The unrealized non-cash element of the mark-to-market loss was $6.2 million for the first quarter of 2019 compared to a loss of $11.3 million for the fourth quarter of 2018. Of the unrealized loss for the first quarter of 2019, $7.1 million is related to a mark-to-market loss on interest rate swaps and a gain of $0.9 million is related to foreign exchange contracts.

Distributable cash flow was $25.7 million for the first quarter of 2019 compared to $27.3 million for the fourth quarter of 2018. The decrease in distributable cash flow is mainly due to two less operational earnings days and higher operating expenses on average for the fleet during the first quarter of 2019. After review there was also a small upward adjustment made to the annual estimated maintenance and replacement capital expenditures.

The distribution declared for the first quarter of 2019 was $0.52 per common unit, equivalent to an annualized distribution of $2.08.

Operational review

The Partnership’s vessels operated throughout the first quarter of 2019 with 99.8% utilization for scheduled operations.

Financing and Liquidity

As of March 31, 2019, the Partnership had $71.8 million in available liquidity, which consisted of cash and cash equivalents of $43.1 million and $28.7 million of capacity under its revolving credit facilities. The revolving credit facilities mature in August 2019 and September 2023. The Partnership’s total interest-bearing debt outstanding as of March 31, 2019 was $1,069.0 million ($1,059.6 million net of debt issuance cost). The average margin paid on the Partnership’s outstanding debt during the first quarter of 2019 was approximately 2.1% over LIBOR.

As of March 31, 2019, the Partnership had entered into foreign exchange forward contracts, selling a total notional amount of $25.0 million against the NOK at an average exchange rate of NOK 8.28 per 1.00 U.S. Dollar. These foreign exchange forward contracts are economic hedges for certain vessel operating expenses and general expenses in NOK.

As of March 31, 2019, the Partnership had entered into various interest rate swap agreements for a total notional amount of $552.4 million to hedge against the interest rate risks of its variable rate borrowings. As of March 31, 2019, the Partnership receives interest based on three or six-month LIBOR and pays a weighted average interest rate of 1.86% under its interest rate swap agreements, which have an average maturity of approximately 4.7 years. The Partnership does not apply hedge accounting for derivative instruments, and its financial results are impacted by changes in the market value of such financial instruments.

As of March 31, 2019, the Partnership’s net exposure to floating interest rate fluctuations on its outstanding debt was approximately $473.5 million based on total interest-bearing debt outstanding of $1,069.0 million, less interest rate swaps of $552.4 million and less cash and cash equivalents of $43.1 million. The Partnership’s outstanding interest-bearing debt of $1,069.0 million as of March 31, 2019 is repayable as follows:

(U.S. Dollars in thousands)   Period repayment   Balloon repayment
Remainder of 2019 $   66,203 $   25,000
2020 85,945
2021 86,545 70,811
2022 71,210 236,509
2023 55,535 202,185
2024 and thereafter     15,181     153,893
Total $   380,619 $   688,398

On May 14, 2019, the Partnership obtained approval to extend the maturity of its $25 million unsecured revolving credit facility maturing in August 2019 with the same commercial terms. The refinancing is expected to close in June 2019.

Distributions

On May 15, 2019, the Partnership paid a cash distribution of $0.52 per common unit with respect to the quarter ended March 31, 2019 to all common unitholders of record on May 2, 2019. On May 15, 2019, the Partnership also paid a cash distribution to the Series A Preferred unitholders with respect to the quarter ended March 31, 2019 in an aggregate amount equal to $1.8 million.

Outlook

There are no dry dockings scheduled for any of the Partnership’s fleet during the remainder of 2019.

As of March 31, 2019, the Partnership’s fleet of sixteen vessels had an average remaining fixed contract duration of 3.4 years. In addition, the charterers of the Partnership’s time charter vessels have options to extend their charters by an additional 4.4 years on average.

In September 2018, Knutsen NYK, the owner of the Partnership’s general partner, entered into new long- term charters with Equinor for two Suezmax DP2 shuttle tanker newbuildings to be constructed by Hyundai Heavy Industries in South Korea with delivery scheduled in the second half of 2020. In December 2018, Knutsen NYK ordered a new Suexmax DP2 shuttle tanker newbuilding to be constructed by Cosco Shipyard in China and to be delivered in early 2021. This shuttle tanker is a replacement vessel for the Knutsen NYK fleet and will be operating in its COA pool if it is not contracted under a long-term charter before delivery. Pursuant to the omnibus agreement the Partnership entered into with Knutsen NYK at the time of its initial public offering, the Partnership has the option to acquire from Knutsen NYK any offshore shuttle tankers that Knutsen NYK acquires or owns that are employed under charters for periods of five or more years.

There can be no assurance that the Partnership will acquire any additional vessels from Knutsen NYK.

The Board believes that demand for newbuild offshore shuttle tankers will continue to be driven over time based on the requirement to replace older tonnage in the North Sea and Brazil and further expansion into deep water offshore oil production areas such as in Pre-salt Brazil and the Barents Sea. The Board further believes that significant growth in demand exists and that this will continue for new shuttle tankers as the availability of existing vessels has reduced and modern operational demands have increased. Consequently, there should be opportunities to further grow the Partnership.

About KNOT Offshore Partners LP

KNOT Offshore Partners owns operates and acquires shuttle tankers under long-term charters in the offshore oil production regions of the North Sea and Brazil. KNOT Offshore Partners owns and operates a fleet of sixteen offshore shuttle tankers with an average age of 5.7 years.

KNOT Offshore Partners is structured as a publicly traded master limited partnership. KNOT Offshore Partners’ common units trade on the New York Stock Exchange under the symbol “KNOP.”

The Partnership plans to host a conference call on Friday, May 24, 2019 at noon (Eastern Time) to discuss the results for the first quarter of 2019, and invites all unitholders and interested parties to listen to the live conference call by choosing from the following options:

  • By dialing 1-855-209-8259 or 1-412-542-4105, if outside North America.
  • By accessing the webcast, which will be available for the next seven days on the Partnership’s website: www.knotoffshorepartners.com.

May 23, 2019
KNOT Offshore Partners L.P.
Aberdeen, United Kingdom

Questions should be directed to:
John Costain (+44 7496 170 620)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

     

Three Months Ended

   

Year Ended,
December 31

(U.S. Dollars in thousands)     March 31,

2019

      December 31,

2018

      March 31,

2018

2018
Time charter and bareboat revenues(1) $   70,548 $   70,878 $   67,386 $ 278,191
Loss of hire insurance recoveries

450

Other income(2)     1     53     655 815
Total revenues     70,549     70,931     68,041 279,456
Vessel operating expenses 14,456 14,221 13,247 56,730
Depreciation 22,431 22,450 21,574 88,756
General and administrative expenses     1,298     1,289     1,345     5,290
Total operating expenses     38,185     37,960     36,166     150,776
Operating income     32,364     32,971 31,875     128,680
Finance income (expense):
Interest income 238 247 136 739
Interest expense (13,657) (13,364) (10,594) (49,956)
Other finance expense (118) (228) (337) (1,260)
Realized and unrealized gain (loss)

on derivative instruments(3)

(5,929) (10,905) 9,977 4,039
Net gain (loss) on foreign currency transactions     (26)     91     (330)     (79)
Total finance expense     (19,492)     (24,159)     (1,148)     (46,517)
Income before income taxes 12,872 8,812 30,727 82,163
Income tax benefit (expense)     (3)     18     (3)     2
Net income     12,869     8,830     30,724     82,165

Weighted average units outstanding (in thousands of
units):

Common units 32,694 32,694 32,694 32,694
General Partner units 615 615 615 615

 

 

(1)   Time charter revenues for the first quarter of 2019, fourth quarter of 2018 and the first quarter of 2018 include a non-cash item of
approximately $0.8 million, $0.9 million and $1.2 million, respectively, in reversal of contract liability and asset provision, income

recognition of prepaid charter hire and accrued income for the Carmen Knutsen and for the Brasil Knutsen based on the average charter

rate for the fixed period.
(2) Other income is mainly related to guarantee income from Knutsen NYK. Pursuant to the omnibus agreement, Knutsen NYK agreed to

guarantee the payments of the hire rate that is equal to or greater than the hire rate payable under the initial charters of the Bodil

Knutsen and the Windsor Knutsen for a period of five years from the closing date of the Partnership’s initial public offering. In

October 2015, the Windsor Knutsen commenced operating under a new Shell time charter. The hire rate for the new charter is below

the initial charter hire rate and the difference between the new hire rate and the initial rate was paid by Knutsen NYK until
April 15, 2018.
(3) Realized gains (losses) on derivative instruments relate to amounts the Partnership actually received (paid) to settle derivative
instruments, and the unrealized gains (losses) on derivative instruments related to changes in the fair value of such derivative
instruments, as detailed in the table below:
 
  Three Months Ended
(U.S. Dollars in thousands)

March 31,
2019

 

December 31,
2018

 

March 31,
2018

Realized gain (loss):      
Interest rate swap contracts $ 1,078 $ 711 $ (304)
Foreign exchange forward contracts     (788)     (359)     1,105
Total realized gain (loss):     290     352     801
Unrealized gain (loss):
Interest rate swap contracts (7,098) (9,896) 8,946
Foreign exchange forward contracts     879     (1,361)     230
Total unrealized gain (loss):     (6,219)     (11,257)     9,176
Total realized and unrealized gain (loss) on derivative instruments: $   (5,929) $   (10,905) $   9,977
 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET

(U.S. Dollars in thousands)

   

At March 31,
2019

   

 

At December 31,
2018

ASSETS    
Current assets:
Cash and cash equivalents $ 43,105 $ 41,712
Amounts due from related parties 1,330 1,141
Inventories

2,565

2,443
Derivative assets 3,957 4,621
Other current assets     2,557     2,462
Total current assets     53,514     52,379
 
Long-term assets:
Vessels, net of accumulated depreciation 1,744,573 1,767,080
Right-of-use assets(4) 2,210
Intangible assets, net 1,740 1,891
Derivative assets 5,775 11,667
Accrued income     4,332     3,807
Total Long-term assets     1,758,630     1,784,445
Total assets $   1,812,144 $   1,836,824
 
LIABILITIES AND EQUITY
Current liabilities:
Trade accounts payable $ 3,206 $ 4,800
Accrued expenses 6,430 6,464
Current portion of long-term debt 106,996 106,926
Current lease liabilities 552
Current portion of derivative liabilities 862 1,740
Income taxes payable 15 130
Current portion of contract liabilities 1,518 1,518
Prepaid charter 6,429 5,771
Amount due to related parties     594     1,070
Total current liabilities     126,602     128,419
 
Long-term liabilities:
Long-term debt 952,642 970,365
Lease liabilities(4) 1,658
Derivative liabilities 887 345
Contract liabilities 4,825 5,203
Deferred tax liabilities     456     453
Total long-term liabilities     960,468     976,366
Total liabilities     1,087,070     1,104,785
Commitments and contingencies
Series A Convertible Preferred Units 89,264 89,264
Equity:
Partners’ capital:
Common unitholders 624,408 631,244
General partner interest     11,402     11,531
Total partners’ capital     635,810     642,775
Total liabilities and equity $   1,812,144 $   1,836,824
 
 
(4) In July 2018 the Financial Accounting Standards Board (the “FASB”) issued targeted improvements to the leasing guidance allowing for
an optional transition method that allow entities to initially apply the new lease standard and its disclosures at the transition date and
recognize as cumulative-effect adjustments to the opening balance of retained earnings. The Partnership adopted the new leasing
standard on January 1, 2019.
 

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS’ CAPITAL

  Partners' Capital  

Accumulated Other
Comprehensive
Income (Loss)

 

Total Partners'
Capital

 

Serie A
Convertible
Preferred
Units

(U.S. Dollars in thousands)

Common
Units

 

General Partner
Units

     

Consolidated balance at December 31,
2017

$   628,471 $   11,479 $   $   639,950 $   89,264
Net income   28,390   534     28,924   1,800
Other comprehensive income

Cash distributions (17,701) (333) (18,034) (1,800)
Net proceeds from issuance of common units     (4)             (4)    
Consolidated balance at March 31, 2018 $   639,156     11,680         650,836     89,264
Consolidated balance at December 31, 2018 $   631,244 $   11,531 $   $   642,775 $   89,264
Net income 10,865 204 11,069 1,800
Other comprehensive income
Cash distributions     (17,701)     (333)         (18,034)     (1,800)
Consolidated balance at March 31, 2019 $   624,408 $   11,402 $   $   635,810 $   89,264
 

UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS

      Three Months Ended March 31,
(U.S. Dollars in thousands) 2019   2018
OPERATING ACTIVITIES    
Net income $ 12,869 $ 30,724
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation 22,431 21,574
Amortization of contract intangibles / liabilities (228) (228)
Amortization of deferred revenue (372)
Amortization of deferred debt issuance cost 656 574
Drydocking expenditure 76 (526)
Income tax expense 3 3
Income taxes paid (121) (172)
Unrealized (gain) loss on derivative instruments 6,219 (9,477)
Unrealized (gain) loss on foreign currency transactions 14 (79)
Changes in operating assets and liabilities:
Decrease (increase) in amounts due from related parties (190) (243)
Decrease (increase) in inventories (122) 50
Decrease (increase) in other current assets (95) 1,274
Decrease (increase) in accrued revenue (525) (589)
Increase (decrease) in trade accounts payable (1,592) (2,536)
Increase (decrease) in accrued expenses (34) (371)
Increase (decrease) prepaid charter 659 (8,319)
Increase (decrease) in amounts due to related parties     (476)     1,129
Net cash provided by operating activities     39,544     32,416
 
INVESTING ACTIVITIES
Acquisition of Anna Knutsen (net of cash acquired)         (15,376)
Net cash (used in) investing activities         (15,376)
 
FINANCING ACTIVITIES
Proceeds from long-term debt 145,500
Repayment of long-term debt (18,330) (121,200)
Repayment of long-term debt from related parties (22,536)
Payment of debt issuance cost 21 (1,053)
Cash distribution (19,834) (19,834)
Net proceeds from issuance of common units         (4)
Net cash (used in) financing activities     (38,143)     (19,127)
Effect of exchange rate changes on cash (8) 35
Net increase (decrease) in cash and cash equivalents 1,393 (2,051)
Cash and cash equivalents at the beginning of the period     41,712     46,104
Cash and cash equivalents at the end of the period $   43,105 $   44,053
 

APPENDIX A—RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

Distributable Cash Flow (“DCF”)

Distributable cash flow represents net income adjusted for depreciation, unrealized gains and losses from derivatives, unrealized foreign exchange gains and losses, distributions on the Series A Convertible Preferred Units, other non-cash items and estimated maintenance and replacement capital expenditures. Estimated maintenance and replacement capital expenditures, including estimated expenditures for drydocking, represent capital expenditures required to maintain over the long-term the operating capacity of, or the revenue generated by, the Partnership’s capital assets. The Partnership believes distributable cash flow is an important measure of operating performance used by management and investors in publicly-traded partnerships to compare cash generating performance of the Partnership from period to period and to compare the cash generating performance for specific periods to the cash distributions (if any) that are expected to be paid to the common unitholders, the Partnership’s general partner and the holder of the incentive distribution rights. Distributable cash flow is a non-GAAP financial measure and should not be considered as an alternative to net income or any other indicator of KNOT Offshore Partners’ performance calculated in accordance with GAAP. The table below reconciles distributable cash flow to net income, the most directly comparable GAAP measure.

(U.S. Dollars in thousands)      

Three Months
Ended March 31,
2019
(unaudited)

     

Three Months
Ended December 31,
2018
(unaudited)

Net income $   12,869   $   8,830
Add:
Depreciation 22,431 22,450
Other non-cash items; Amortization of deferred debt issuance cost 656 683
Unrealized losses from interest rate derivatives and foreign exchange currency contracts 6,219 11,257
Less:
Estimated maintenance and replacement capital expenditures (including drydocking reserve) (13,879) (13,250)
Distribution to Series A Preferred Units (1,800) (1,800)
Other non-cash items; deferred revenue and amortization of intangible assets (228) (291)
Other non-cash items; accrued income (525) (615)
Distributable cash flow $ 25,743 $ 27,264
Distributions declared $ 18,034 $ 18,034
Distribution coverage ratio (1) 1.43 1.51
 
(1)   Distribution coverage ratio is equal to distributable cash flow divided by distributions declared for the period presented.
 

EBITDA and Adjusted EBITDA

EBITDA is defined as earnings before interest, depreciation and taxes. Adjusted EBITDA refers to earnings before interest, depreciation, taxes, goodwill impairment charges and other financial items (including other finance expenses, realized and unrealized gain (loss) on derivative instruments and net gain (loss) on foreign currency transactions). EBITDA is used as a supplemental financial measure by management and external users of financial statements, such as the Partnership’s lenders, to assess its financial and operating performance and compliance with the financial covenants and restrictions contained in its financing agreements. Adjusted EBITDA is used as a supplemental financial measure by management and external users of financial statements, such as investors, to assess the Partnership’s financial and operating performance. The Partnership believes that EBITDA and Adjusted EBITDA assist its management and investors by increasing the comparability of its performance from period to period and against the performance of other companies in its industry that provide EBITDA and Adjusted EBITDA information. This increased comparability is achieved by excluding the potentially disparate effects between periods or companies of interest, other financial items, taxes, goodwill impairment charges and depreciation, as applicable, which items are affected by various and possibly changing financing methods, capital structure and historical cost basis and which items may significantly affect net income between periods. The Partnership believes that including EBITDA and Adjusted EBITDA as financial measures benefits investors in (a) selecting between investing in the Partnership and other investment alternatives and (b) monitoring the Partnership’s ongoing financial and operational strength in assessing whether to continue to hold common units. EBITDA and Adjusted EBITDA are non-GAAP financial measures and should not be considered as alternatives to net income or any other indicator of Partnership performance calculated in accordance with GAAP.

The table below reconciles EBITDA and Adjusted EBITDA to net income, the most directly comparable GAAP measure.

(U.S. Dollars in thousands)    

Three Months Ended
March 31
2019
(unaudited)

   

Three Months Ended
December 31
2018
(unaudited)

Net income $ 12,869 $ 8,830
Interest income (238) (247)
Interest expense 13,657 13,364
Depreciation 22,431 22,450
Income tax expense 3 (18)
EBITDA 48,722 44,379
Other financial items (a) 6,073 11,042
Adjusted EBITDA 54,795 55,421
 
(a)   Other financial items consist of other finance expense, realized and unrealized gain (loss) on derivative instruments and net gain (loss) on foreign currency transactions.
 

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements concerning future events and KNOT Offshore Partners’ operations, performance and financial condition. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words “believe,” “anticipate,” “expect,” “estimate,” “project,” “will be,” “will continue,” “will likely result,” “plan,” “intend” or words or phrases of similar meanings. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond KNOT Offshore Partners’ control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements include statements with respect to, among other things:

  • market trends in the shuttle tanker or general tanker industries, including hire rates, factors affecting supply and demand, and opportunities for the profitable operations of shuttle tankers;
  • Knutsen NYK’s and KNOT Offshore Partners’ ability to build shuttle tankers and the timing of the delivery and acceptance of any such vessels by their respective charterers;
  • forecasts of KNOT Offshore Partners’ ability to make or increase distributions on its common units and to make distributions on its Series A Convertible Preferred Units and the amount of any such distributions;
  • KNOT Offshore Partners’ ability to integrate and realize the expected benefits from acquisitions;
  • KNOT Offshore Partners’ anticipated growth strategies;
  • the effects of a worldwide or regional economic slowdown;
  • turmoil in the global financial markets;
  • fluctuations in currencies and interest rates;
  • fluctuations in the price of oil;
  • general market conditions, including fluctuations in hire rates and vessel values;
  • changes in KNOT Offshore Partners’ operating expenses, including drydocking and insurance costs and bunker prices;
  • KNOT Offshore Partners’ future financial condition or results of operations and future revenues and expenses;
  • the repayment of debt and settling of any interest rate swaps;
  • KNOT Offshore Partners’ ability to make additional borrowings and to access debt and equity markets;
  • planned capital expenditures and availability of capital resources to fund capital expenditures;
  • KNOT Offshore Partners’ ability to maintain long-term relationships with major users of shuttle tonnage;
  • KNOT Offshore Partners’ ability to leverage Knutsen NYK’s relationships and reputation in the shipping industry;
  • KNOT Offshore Partners’ ability to purchase vessels from Knutsen NYK in the future;
  • KNOT Offshore Partners’ continued ability to enter into long-term charters, which KNOT Offshore Partners defines as charters of five years or more;
  • KNOT Offshore Partners’ ability to maximize the use of its vessels, including the re-deployment or disposition of vessels no longer under long-term charter;
  • the financial condition of KNOT Offshore Partners’ existing or future customers and their ability to fulfill their charter obligations;
  • timely purchases and deliveries of newbuilds;
  • future purchase prices of newbuilds and secondhand vessels;
  • any impairment of the value of KNOT Offshore Partners’ vessels;
  • KNOT Offshore Partners’ ability to compete successfully for future chartering and newbuild opportunities;
  • acceptance of a vessel by its charterer;
  • termination dates and extensions of charters;
  • the expected cost of, and KNOT Offshore Partners’ ability to, comply with governmental regulations, maritime self-regulatory organization standards, as well as standard regulations imposed by its charterers applicable to KNOT Offshore Partners’ business;
  • availability of skilled labor, vessel crews and management;
  • KNOT Offshore Partners’ general and administrative expenses and its fees and expenses payable under the technical management agreements, the management and administration agreements and the administrative services agreement;
  • the anticipated taxation of KNOT Offshore Partners and distributions to its unitholders;
  • estimated future maintenance and replacement capital expenditures;
  • Marshall Islands economic substance requirements;
  • KNOT Offshore Partners’ ability to retain key employees;
  • customers’ increasing emphasis on environmental and safety concerns;
  • potential liability from any pending or future litigation;
  • potential disruption of shipping routes due to accidents, political events, piracy or acts by terrorists;
  • future sales of KNOT Offshore Partners’ securities in the public market;
  • KNOT Offshore Partners’ business strategy and other plans and objectives for future operations; and
  • other factors listed from time to time in the reports and other documents that KNOT Offshore Partners files with the U.S Securities and Exchange Commission, including its Annual Report on Form 20-F for the year ended December 31, 2018 and subsequent reports on Form 6-K.

All forward-looking statements included in this release are made only as of the date of this release. New factors emerge from time to time, and it is not possible for KNOT Offshore Partners to predict all of these factors. Further, KNOT Offshore Partners cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement. KNOT Offshore Partners does not intend to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in KNOT Offshore Partners’ expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.

1 EBITDA, Adjusted EBITDA and distributable cash flow are non-GAAP financial measures used by management and external users of the Partnership’s financial statements. Please see Appendix A for definitions of EBITDA, Adjusted EBITDA and distributable cash flow and a reconciliation to net income, the most directly comparable GAAP financial measure.

2 Distribution coverage ratio is equal to distributable cash flow divided by distributions declared for the period presented.

STAMFORD, Conn.--(BUSINESS WIRE)--Tradition Energy, announced today that it has advised the City of Dallas, Texas, on the largest green energy transaction since the inception of Texas electricity deregulation. The new 10-year contract will deliver more than 750 million kilowatt hours of electricity per year to the City with savings of ~$80 million and reduce the energy rate by over 26% compared to the expiring contract. As a result, the City of Dallas will remain the most populous city in the nation with 100% green power for its operations.

The historic renewable energy purchase also represents the first time a local government of Dallas’ size has committed to a long-term strategy of sourcing 100% of its load from off-site wind and solar farms, including new sites not yet developed, in an attempt to eliminate any electricity purchased from the grid. Initially, the contract supports and draws power from the Foard City Wind Farm in West Texas. Through Tradition’s negotiation, the winning energy supplier has agreed to work with the City on sourcing the City’s volume from new renewable assets that may be developed in North Texas, at no additional charge.

Tradition Energy’s Dallas advisory team conducted a rigorous procurement process among 12 of the top energy providers. The outcome of several months of contract negotiation resulted in numerous benefits for the City, including:

  • 26% budget reduction over the current agreement;
  • $3.66 million overall projected savings in the current fiscal year;
  • $7.85 million overall projected savings annually;
  • $1.5 million over the term for energy-related projects and initiatives and an additional $300,000 in community program support;
  • maintains the City’s environmental leadership profile of using 100% green energy;
  • allows the City to pursue the development of new renewable energy generation of their own;
  • provides budget certainty for the next decade.

“This is a great deal for Dallas,” said Errick Thompson, Director of Building Services for the City. “With significant tax revenue reductions looming, it is very important to find opportunities to reduce expenses. Our open and competitive process delivered 10 years of budget certainty and 100% renewable energy at a very market-competitive cost.”

“We are thrilled with this new renewable agreement our Dallas and Stamford teams negotiated on behalf of the City of Dallas,” said Alan Kurzer, CEO, Tradition Energy. “Not only have we helped the City achieve their sustainability goals and dramatically reduce costs, but this new contract will also provide budget certainty in the highly volatile ERCOT market for many years,” added Michael Ayala, Executive Director, Tradition Energy.

To read the City of Dallas’ announcement click here.

About Tradition Energy

Tradition Energy is the nation’s largest and most experienced independent energy risk management and procurement advisor, serving more than 1,300 commercial, industrial and governmental clients ranging from Fortune 500 global companies to medium-sized businesses to local municipalities. Tradition Energy is part of the Tradition Group, a leading global institutional broker of financial and commodity products. Tradition employs over 2,300 people in 29 countries around the world and is publicly listed on the Swiss stock exchange (CFT). www.TraditionEnergy.com

HARTFORD, Conn. & BOSTON--(BUSINESS WIRE)--Eversource Energy subsidiary NSTAR Electric Company today announced the completion of its first ever issuance of “Green Bonds,” with proceeds used to support the company’s industry-leading low-carbon, clean energy initiatives.

NSTAR Electric issued $400 million of 3.25% debentures that will mature on May 15, 2029. The difference, or spread, between the 3.276% yield on the debentures and comparable United States Treasury obligations was only 85 basis points, or 0.85 percent. The unprecedented low spread was due to extremely high investor demand and NSTAR Electric’s strong credit rating profile. This result will benefit NSTAR Electric’s customers whose bills reflect the company’s borrowing costs.

“The spread of 85 basis points represents the tightest 10-year new issue spread for an unsecured utility green bond offering, which is tremendous news for our customers,” said Eversource Senior Vice President and Treasurer John Moreira. “This is our inaugural offering in the Green Bond market and we are very pleased with the results. The proceeds from the $400 million debt issue were used to fund various ‘green’ initiatives including new solar projects and investments to help make our customers’ homes and businesses more energy efficient.”

Eversource manages the number one ranked energy efficiency programs in the nation as recognized by advocacy organizations including the Coalition for Environmentally Responsible Economies (Ceres) and the American Council for an Energy-Efficient Economy. Also, the energy company recently completed 62 additional megawatts of utility-scale solar in Massachusetts. Eversource now operates 22 solar sites in the commonwealth with the capacity to power more than 11,000 homes, avoiding nearly 36,000 metric tons of carbon emissions per year. This represents a reduction in greenhouse gas emissions equivalent to taking more than 7,000 cars off the road per year.

The energy company’s commitment to environmental sustainability is a key component of its daily operations and vision for the future. With a long-term strategy that is aligned with the region’s goals for clean energy development, Eversource has been a driving force in bringing cleaner, affordable and sustainable energy to the region through investments that include offshore wind, utility-scale solar, and energy storage.

Eversource (NYSE: ES), the #1 energy efficiency provider in the nation, transmits and delivers electricity and natural gas and supplies water to approximately four million customers in Connecticut, Massachusetts and New Hampshire. Eversource harnesses the commitment of about 8,000 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. For more information, please visit our website (www.eversource.com) and follow us on Twitter (@EversourceCorp) and Facebook (facebook.com/EversourceEnergy). For more information on our water services, visit www.aquarionwater.com.

  • The clean energy giant signs a strategic cooperation contract with Deuter to co-develop solar backpacks for global market
  • The duo to adopt dual brand strategy to promote their upcoming solar backpacks

- The world’s largest thin-film power solution company, Hanergy Thin Film Power Group (00566.hk), today announced that it has signed an agreement for a strategic co-operation with Deuter, one of the leading backpack brands worldwide, to collaboratively design and develop solar backpacks for the global market.

According to the strategic cooperation contract, Hanergy will be responsible for the development and the design of thin film flexible components, Deuter will take the onus for the design and the production of the bags globally. The duo will adopt co-brand strategy to promote their upcoming solar backpacks.

Hanergy Joins Hands With Deuter To Develop Solar Backpacks Image 2

Deuter is a German brand of sport packs and bags, for hiking, trekking, snow sports and other uses.  Founded in 1898, Deuter has been pioneering premium outdoor equipment market for over 120 years. 

Robert Schieferle, VP, Deuter said, “We're delighted to collaborate with Hanergy, and together embark on a new journey to introduce our co-branded solar backpacks in the global market. The partnership is intended towards leveraging the expertise of both the companies in their respective fields. We’re confident that with Hanergy’s high efficiency and reliable thin film flexible components our upcoming solar backpacks will set a new benchmark in the market."

Hanergy’s solar cells set the world record for conversion efficiency several times, with the newest one being 29.1%. It launched and upgraded handful of consumer products in 2018, including Humbrella, solar-powered umbrella; SolarTank, solar backpack; HanPower, solar power bank, retaining its leading position in mobile energy sector.

Commenting on the collaboration with Deuter, Mr. Wang Zhongshuang, CEO, Hanergy German Company said, “Partnering with Deuter we intend to take the notch up in the solar backpack category and bring in a fresh approach to the design while retaining the energy efficiency quotient of the product. We’re extremely confident that the consumers will appreciate our upcoming solar backpack which is an amalgamation of great aesthetics and technology.”

Earlier last week Hanergy had participated at the 2019 Intersolar Europe Exhibition, a world’s leading exhibition for the solar industry and its partners to feature its path-breaking energy solutions. As part of a three-day conference and exhibition that's being held at Messe München Exhibition Centre, Munich, Germany from May 15 - 17, 2019, Hanergy showcased most promising solar solutions, covering a wide span of life-related scenarios.

May 21, 2019 Houston – GE Renewable Energy and TÜV NORD today announced a milestone in the testing and certification of wind turbines today, the first design conformity statement to cover a 40-year period. TÜV NORD issued the statement for GE Renewable Energy's 2.7-116 turbine in accordance with the IEC 61400-22 standard. It is the first time that GE Renewable Energy has sought or received such a certification.

The GE 2.7-116 onshore wind turbine from GE's Onshore Wind business has a diameter of 116 meters, 56.9 meter long rotor blades and a hub height of 90 meters generates an output of 2.7 megawatts. It is primarily designed for areas with strong winds.

"Normally, we certify wind turbines for a period of 20 years," explains Mike Wöbbeking, Executive Vice President Renewables at TÜV NORD and General Manager of TÜV NORD EnSys. "The design review for such a long period of time was a real milestone for us as well."

Sheri Hickok, General Manager - Global Product Development, GE Onshore Wind, said, "We're delighted to have been able to partner with TÜV NORD on this certification milestone. We believe it is significant for our customers because it will both help them lower LCOE and de-risk their wind farms, both key considerations at the industry grows and matures."

In issuing the Design Evaluation Conformity Statement, TÜV NORD conducts a thorough evaluation of the design of the wind turbine. This evaluation process includes, for example, the calculation of the turbine loads and the verification of the component design (rotor blade, mechanical components and structures, tower and internals). For the increased service life, the components are subjected to additional loads in line with the extended service life. In addition, ageing and wear as well as potential faults resulting from them are taken into account.

The safety system and the manuals, the electrical system and the manufacturing processes are also evaluated. GE has developed an inspection and replacement concept that includes the safety-relevant components to ensure plant integrity over the entire life cycle, something that required a particularly interdisciplinary review by TÜV NORD.

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About GE Renewable Energy
GE Renewable Energy is a $15 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400+ gigawatts of clean renewable energy and equipped more than 90 percent of utilities worldwide with its grid solutions. With nearly 40,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons.
Follow us at www.ge.com/renewableenergy, on www.linkedin.com/company/gerenewableenergy, or on www.twitter.com/GErenewables

About TÜV NORD GROUP
Founded 150 years ago, we stand for security and trust worldwide. As a knowledge company, we have the digital future firmly in our sights. Whether engineers, IT security experts or experts for the mobility of the future: We ensure in more than 70 countries that our customers become even more successful in the networked world.
www.tuev-nord-group.com

Media Contacts

Tim Brown
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Annika Burchard
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+49 201 825 1421

Houston, May 21, 2019 – GE Renewable Energy announced today at the AWEA Windpower Conference that the company has completed over 2,500 repowering upgrades, covering 4 GWs of capacity at 36 different wind farms across the United States, since 2017. The company said it expects to repower an additional 3 GW of units for 11 customers at over 25 new wind farms by the end of 2020, reflecting robust demand for the service.

GE Renewable Energy highlighted its capability to repower non-GE wind turbines, noting that two of the projects are for equipment originally supplied by other equipment manufacturers. Customers who have taken advantage of GE Renewable Energy's repowering services include NextEra, E.On, and MidAmerican Energy, amongst other leading players.

Repowering involves replacing older units with new, higher capacity turbines or retrofitting them with more efficient components – in both cases, significantly increasing wind farm production while extending the wind farm life. On average, for example, wind turbines repowered by GE have seen a 20 percent increase in annual energy production and 1.5 percent availability improvement from pre-repower performance.

Vikas Anand, GE Renewable Energy's CEO, Americas Onshore Wind, said, "Repowering existing wind turbine technology is a complex endeavor, requiring the ability to blend new technology and equipment with aging machines. GE has the engineering, design and financing expertise to help our customers do that in a way that enables them to generate the maximum amount of clean, renewable energy from each wind turbine in existence in the most economic manner possible."

The National Renewable Energy Laboratory has estimated that annual US wind repowering investment could grow to $25 billion by 2030. With the largest installed base in the US, GE Renewable Energy is uniquely positioned to serve this sizable market segment. Touting a global installed base of over 60 GW, GE is strongly qualified to address the growing interest in repowering wind turbines worldwide.

With one of the most diverse renewable energy portfolios in the industry, GE Renewable Energy offers customers a wide range of products and services – from onshore and offshore wind equipment to grid solutions and digital services offerings – needed to help them drive down the cost of electricity and bring green electrons to the grid.

GE Renewable Energy is attending AWEA Windpower Conference in Houston, Texas, May 21-23. Visit us at booth #1426.

###

About GE Renewable Energy
GE Renewable Energy is a $15 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400+ gigawatts of clean renewable energy and equipped more than 90 percent of utilities worldwide with its grid solutions. With nearly 40,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons.
Follow us at www.ge.com/renewableenergy, on www.linkedin.com/company/gerenewableenergy or on www.twitter.com/GErenewables

Fortum has made the investment decision to start the construction of the 90-megawatt Kalax wind park in Närpes, Finland.

- The clean energy giant accelerates its expansion plan in European market


- Signs the strategic cooperation contracts with Deuter, Bahama to co-design and develop solar backpacks & solar powered parasols for global market respectively

- Introduces its flexible modules & BIPV product- HanTile in Sweden Market; signs a USD 1 bn distribution agreement with Sun Lion Solar Ltd.

The clean energy giant, Hanergy Thin Film Power Group (00566.hk), has been on a constant expansion mode and is steadfast to strengthen its foothold in the global market. The company recently exhibited its latest energy solutions at the 27th Intersolar Europe Exhibition, a world's leading exhibition for the solar industry and its partners to feature its path-breaking energy solutions.

Hanergy Showcases Its Pioneering Energy Solutions At The Intersolar Europe Exhibition 2019 Image 2

As part of a three-day conference and exhibition held at Messe München Exhibition Centre, Munich, Germany from May 15-17, 2019, Hanergy showcased its most promising solar solutions.

Amongst the exhibits from Hanergy were - HanPaper Plus in, a portable solar power-bank product; HanPack, the solar backpack; and Humbrella, the solar-powered parasol, in consumer products category; and solar-powered housing solutions, like rooftop solutions of Single & Double Glass HanTile, power-generation wall solution, HanWall, and road paving solutions like HanBrick in the construction products category; Transportation solutions such as slide-in ground mounted system, Thin-Film Solar vehicle Roof, besides flexible modules, and production lines from Solibro and MiaSolé.

The most intriguing part is that Hanergy has also fast-tracked its global expansion with its participation at the Intersolar Europe Exhibition 2019. The company has signed the strategic cooperation contracts with renowned companies like Deuter & Bahama to co-design and develop solar backpacks & solar powered parasols respectively for the global market.

Hanergy Showcases Its Pioneering Energy Solutions At The Intersolar Europe Exhibition 2019 Image 3

As per the strategic co-operation contract with Deuter, Hanergy will be responsible for the development and the design of thin film flexible components, and Deuter will take the onus for the design and the production and the sales of the bags globally. The duo will adopt co-brand strategy to promote their upcoming solar backpacks.

On collaboration with Hanergy, Robert Schieferle, VP, Deuter said, “We’re pleased to build synergies with the company of Hanergy’s stature and bring to use their par-excellence thin film flexible components in our upcoming solar backpacks. We’re confident that our new solar backpack powered by Hanergy’ s light weight modules with dual branding of the two brands is surely going to be a head-turner.”

Deuter is a German brand of sport packs and bags, for hiking, trekking, snow sports and other uses. Founded in 1898, Deuter has been pioneering premium outdoor equipment market for over 120 years.

On the other hand, under the aegis of strategic partnership agreement with Bahama, Germany’s leading parasol brand, both the companies will co-operate to co-design and develop solar powered parasols.

Founded in 1950, today Bahama designs and manufactures a great variety of high-quality large-size parasols and sun sails.

Further, introducing its flexible modules & BIPV product- HanTile in the Sweden Market, the clean energy giant has also signed a USD 1 bn distribution agreement with Sun Lion Solar Ltd, one of renowned companies offering rooftop solutions in Scandinavian region for over 50 years.

Sweden’s solar market has grown tremendously in the past few years. Its operational PV capacity increased from 231 MW at the end of 2017 to 411 MW at the end of last year, according to new official statistics released by the Swedish Energy Agency (Energimyndigheten). The figures show that 2018 was the country’s best year ever in terms of solar energy development, with 180 MW added to the grid. That contrasts with 91 MW in 2017 and just 13 MW in 2016, while in 2015 and 2014 the country added around 37.6 MW and 36.2 MW, respectively.

Lv Yuan, vice president of Hanergy Overseas Sales company said, “Intersolar Europe has been around for years now, and we’ve been fortunate to be associated with the platform. Our participation at this year’s Intersolar Exhibition has yielded exceptionally good results for the company. We signed a US$1 billion contract to distribute our rooftop solution at Sweden, and we’ve also clinched strategic co-operation contracts with renowned companies in their respective fields like Deuter & Bahama to accentuate the look and feel of our solar backpacks and parasols, and also the sales in Europe and the world markets.”

According to Hanergy, it intends to close deals with nearly 85 potential customers with orders totaling to 380 MW at the Intersolar Exhibition. The company claims it received more than 5,000 visitors and thousands of experts from 160 nations during the exhibition.

Wang Zhongshuang, CEO of Hanergy Germany said, “Hanergy has been on a continuous growth trajectory and is constantly expanding its foothold in the global market. Our collaboration with Deuter and Bahama is a testament of our earnestness to apply our innovative thin film power technology to the products across industries. We’re committed to empower the world with mobile energy, and we’re open to work with top companies to create more energy efficient products that will change the way of life for consumers.”

According to the Global Market Outlook for Solar Power published recently by SolarPower Europe, Europe’s solar market is expected to grow exponentially. Germany will remain the largest PV market in Europe for years to come, with an expected newly installed solar capacity of 26.7 GW by 2023, bringing its total capacity to 72.6 GW. Spain will be the second-biggest market with new additions reaching 19.4 GW and its cumulative total hitting 25.3 GW by the end of the 2019-2023 period.

Over the next five years, the Netherlands, France and Italy will likely add 15.8 GW, 13.3 GW and 9.6 GW, respectively. They will be followed by Ukraine and Turkey, with 5.9 GW and 5.5 GW of respective projected growth.

Intersolar Europe, founded 27 years ago, has become one of the most important industry platforms for manufacturers, suppliers, distributors, service providers and partners in the global solar industry. The exhibition focuses on the areas of photovoltaics, solar thermal technologies, solar power plants, as well as grid infrastructure and solutions for the integration of renewable energy.

Houston, May 20, 2019 – GE Renewable Energy announced today from the AWEA Windpower Conference that it has secured 2,010 MW in onshore wind orders in North America through May 2019. These 728 turbines will power the equivalent of over 800,000 homes and will include windfarms across the United States, such as Engie's recently announced 160 MW Jumbo Hill wind farm.

The majority of these orders were for GE Renewable Energy's best-selling 2 MW product platform, which will have a total installed capacity of more than 15 GW by the end of 2019. GE's 2 MW fleet operates at an industry-leading average of 98+ percent availability.

Vikas Anand, GE Renewable Energy's CEO, Americas Onshore Wind, said, "We are delighted to partner with both new and long-time customers to bring affordable, clean renewable energy to more homes and communities across the country. This is a time of unprecedented growth and demand for the onshore wind industry in the US, and we are proud to offer technology and service offerings that meet the specific needs of our customers."

The US wind market remains strong. According to the American Wind Energy Association, a record 35,000 MW are in the pipeline as of the end of 2018, a 23 percent increase over 2017. GE Renewable Energy was recognized by AWEA as the top manufacturer of wind turbines in the US in 2018, supplying over 3 GW of capacity, 40 percent of the total onshore wind installed nationwide.

With one of the most diverse renewable energy portfolios in the industry, GE Renewable Energy offers customers a wide range of products and services – from onshore and offshore wind equipment to grid solutions and digital services offerings – to help them drive down the cost of electricity and bring green electrons to the grid.

GE Renewable Energy is attending AWEA Windpower Conference in Houston, Texas, May 21-23. Visit us at booth #1426.

###

About GE Renewable Energy
GE Renewable Energy is a $15 billion business which combines one of the broadest portfolios in the renewable energy industry to provide end-to-end solutions for our customers demanding reliable and affordable green power. Combining onshore and offshore wind, blades, hydro, storage, utility-scale solar, and grid solutions as well as hybrid renewables and digital services offerings, GE Renewable Energy has installed more than 400+ gigawatts of clean renewable energy and equipped more than 90 percent of utilities worldwide with its grid solutions. With nearly 40,000 employees present in more than 80 countries, GE Renewable Energy creates value for customers seeking to power the world with affordable, reliable and sustainable green electrons.
Follow us at www.ge.com/renewableenergy, on www.linkedin.com/company/gerenewableenergy or on www.twitter.com/GErenewables.

GWEC working with World Bank Group to hold intergovernmental forum on Offshore Wind in London

  • Forum will bring together emerging markets with strong offshore wind potential, with representatives from 15 governments expected to attend
  • World Bank and the International Finance Corporation (IFC) have launched program to fast-track the adoption of offshore wind energy in developing countries
  • GWEC Market Intelligence expects global offshore wind capacity to grow to 210GW in 2030 from 23GW in 2018, with $500bn to be invested

London, 24 May – The Global Wind Energy Council (GWEC) in cooperation with the World Bank Group, is organizing the first intergovernmental forum on emerging offshore wind markets in London during 25-28 June.

The forum will be attended by delegates from around 15 non-OECD governments as well as representatives from industry and investors, and will encompass a series of activities, including a seminar at the UK’s Department for Business, Energy & Industrial Strategy (BEIS), networking activities at Renewable UK’s Global Offshore Wind conference and exhibition and a study tour of offshore wind facilities in the northern UK.

“We have seen that there is a keen interest among emerging markets to explore the potential for offshore wind,” said Bertrand de la Borde, IFC Director and Global Head of Energy and Mining “This event will be an opportunity for the delegates to learn best practices that can be applied in the development of a competitive offshore wind sector in their home markets.”

“We expect this event to constitute a major step forward to advancing the adoption of offshore wind in developing countries,” says GWEC CEO Ben Backwell. “These countries have everything to gain in terms of attracting investments and creating jobs and benefiting from the cost-effective clean energy which offshore wind creates.”

“We are delighted that the World Bank Group has chosen to co-host this event in London alongside RenewableUK’s Global Offshore Wind conference to meet with senior industry figures. The UK is a global leader in offshore wind and there is no better market in the world to get to know the issues, investment opportunities, and companies working on the global energy transition in 2019” says Maf Smith, the Deputy Chief Executive of RenewableUK

The World Bank Group announced a new program in March to fast-track the adoption of offshore wind energy in developing countries. Through that program, supported by the United Kingdom, the World Bank and IFC will help emerging markets assess their offshore wind potential and provide technical assistance to develop a growing pipeline of projects that are ready for investment by renewable energy developers.

The offshore wind industry has grown nearly five-fold since 2011, with 23 gigawatts installed at the end of 2018 and a large volume of planned projects in Europe, China and the United States. Offshore wind now represents about $26 billion in annual investments – or 8 percent of new global investments in clean energy – and this proportion is set to increase dramatically, with the industry set to reach 210GGW of installed capacity by 2030, $500 billion expected to be invested in offshore wind projects.

Led by the World Bank’s Energy Sector Management Assistance Program (ESMAP), in partnership with IFC, the $5 million program is being initiated thanks to a GBP£20 million grant to ESMAP from the United Kingdom government to help low- and middle-income countries implement environmentally sustainable energy solutions.

The program is taking place in cooperation with the GWEC and its recently-formed Global Offshore Wind Task Force, which brings together leading offshore wind developers, equipment manufacturers and service providers to support emerging markets in creating a regulatory and business environment conducive to offshore wind market growth.

This forum will convene developing country governments, commercial developers, development partners, and wind energy experts to raise awareness around offshore wind opportunities in emerging markets and lay the groundwork for a pipeline of new projects that could be supported by World Bank or IFC financing. The World Bank and IFC will work with public and private sector partners to undertake technical studies and develop national strategies to facilitate the adoption of this increasingly cost-competitive technology. 

 

About GWEC’s Global Offshore Wind Task Force

The GWEC Global Offshore Wind Task Force was established in September 2018 and is chaired by Alastair Dutton, who previously worked for the UK Crown Estate, BEIS and BP. Its purpose is to advise governments on regulatory frameworks and tendering systems for offshore wind; measure and highlight the economic and social benefits of offshore wind and the deployment of local supply chains; foster technological innovation and the testing of new turbines, installation techniques and operations and maintenance (O&M) strategies, including promoting the benefits of digitalisation; spread best practices and transfer knowledge from Europe and other established markets to new and developing markets; and, create appropriate forums to promote the growth of the global offshore wind industry, from seminars and technical workshops to conferences and exhibitions. Henrik Stiesdal, the former Siemens Windpower CTO and the “father” of the offshore wind energy industry, acts as GWEC Ambassador for the Global Offshore Wind Task Force.

 

About GWEC

GWEC is a member-based organisation that represents the entire wind sector. The members of GWEC represent over 1,500 companies, organizations and institutions in more than 80 countries, including manufacturers, developers, component suppliers, research institutes, national and regional wind and renewables associations, electricity providers, finance and insurance companies.

For more information visit: https://gwec.net

Keep up to date with GWEC and receive the latest data and insights on the global wind industry on Twitter, LinkedIn and by subscribing to the Newsletter

 

About the World Bank Group

The World Bank Group is one of the world’s largest sources of funding and knowledge for developing countries. It comprises five closely associated institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), which together form the World Bank; the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Each institution plays a distinct role in the mission to fight poverty and improve living standards for people in the developing world. For more information, please visit www.worldbank.org, www.miga.org, and www.ifc.org. 

For more information, contact:

Alyssa Pek, GWEC

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Phone +32 490 56 89 31

Toàn cảnh Năng lượng Tái tạo ở Việt Nam: Thách thức và Cơ hội

Tóm tắt

Hội thảo sẽ nâng cao hiểu biết của cán bộ cấp tỉnh về năng lượng tái tạo – đặc biệt là tài nguyên năng lượng tái tạo ở Việt Nam. Hội thảo cũng đề cập đến khả năng thu hút đầu tư trực tiếp nước ngoài và khuyến khích tăng cường đầu tư vào Việt Nam​

Mục tiêu và Ý nghĩa của chương trình

Nền kinh tế Việt Nam đang tiếp tục tăng trưởng mạnh mẽ. Quy mô kinh tế của Việt Nam được Chính phủ kỳ vọng sẽ đạt 210 tỷ USD vào năm 2020 và 440 tỷ USD vào năm 2025, với mức tăng trưởng GDP hàng năm khoảng 6,5% trong mười năm tới. Thủ tướng Chính phủ nêu rõ quan điểm Việt Nam mong muốn phát triển nền kinh tế kỹ thuật số mới và dẫn đầu làn sóng phát triển của cuộc cách mạng công nghiệp lần thứ tư ở khu vực Đông Nam Á. Để làm được điều đó, Việt Nam cần tiếp tục xây dựng ngành điện bền vững nhằm cung cấp nguồn điện năng giá rẻ và ổn định cho người dân cả nước.

Chi phí sản xuất điện tái tạo tiếp tục giảm ở các thị trường trên toàn thế giới, đến mức ở hầu hết các thị trường, giờ đây xây dựng và vận hành một nhà máy điện tái tạo còn rẻ hơn so với xây mới nhà máy điện than. Việt Nam sở hữu một trong những nguồn tài nguyên gió tốt nhất ở Đông Nam Á và có nguồn năng lượng mặt trời, sinh khối và thủy điện tốt. Việt Nam cũng là nước có tiềm năng gió ngoài khơi đáng kể. Uớc tính Việt Nam có thể đạt công suất lắp đặt tới 90 GW cho điện gió, trên bờ và ngoài khơi, cũng như hơn 200 GW cho điện mặt trời.

Trong bối cảnh đó, Cục Ngoại vụ và Hiệp hội điện gió toàn cầu, với sự hỗ trợ của Quỹ Khí hậu Châu Âu (ECF), phối hợp tổ chức hội thảo “Toàn cảnh năng lượng tái tạo Việt Nam: Thách thức và cơ hội”.

Chương trình sẽ trình bày và thảo luận các chủ đề sau:

• Giới thiệu chung về ngành năng lượng tái tạo và xu hướng phát triển năng lượng tái tạo trên thế giới
• Tình hình phát triển năng lượng tái tạo tại Việt Nam
• Những cơ hội mà năng lượng tái tạo có thể mang lại cho các địa phương/khu vực, bao gồm thu hút đầu tư trực tiếp nước ngoài, phát triển việc làm và cơ hội để doanh nghiệp tham gia vào chuỗi giá trị của ngành năng lượng trong khu vực và toàn cầu
• Những khó khăn mà các nhà đầu tư đang gặp phải và sự hỗ trợ các địa phương có thể mang lại cho doanh nghiệp
• Các thông tin và kiến thức được chia sẻ trong chương trình đào tạo sẽ giúp các nhà lãnh đạo và các cán bộ làm công tác đối ngoại và công thương tại địa phương nâng cao kiến thức, kỹ năng, nhằm tham mưu chính xác cho Lãnh đạo các tỉnh/thành phố trong quá trình thu hút đầu tư cũng như phát triển ngành năng lượng tái tạo tại địa phương mình​.

Market to Watch: Vietnam

Vietnam can be the next big wind energy market in South East Asia. With a growing GDP, increasing population, surging power growth rate with dependance on coal, a favourable FiT system, and fantastic wind resources along the 3,000 km coastline for both onshore and offshore wind –  Vietnam has all the fundamentals in place to be a wind power leader in the region.

With energy security becoming an increasing concern as industry and power consumption continues to grow, the question is if Vietnam can provide sufficient capacity to this growth and regulators are now turning their sights to wind and other renewables energy sources.

The Vietnamese government has taken the lead and established renewable energy targets in order to meet the growing energy demand and power economic development sustainably. The current target in place is to provide 10.7 percent of electricity production coming from renewables by 2030. They have also established a wind-specific target of 800 MW by 2020 in order to meet their renewable energy goals.

On top of these targets, the government has also raised the Feed-in-Tariff (FiT) for both onshore and offshore wind in September 2018, in order to spur market activity and balance out the high risks within emerging markets, specifically PPA bankability. The FiT is set for all projects entering operation by November 2021, but what comes after this date remains unclear. If the the planned solar auction in Vietnam is any indication the next steps for other renewable energy sources, then it is likely that market regulators are considering the introduction of auctions for onshore and offshore wind after 2021.

The current pipeline data shows about 2GW of projects, with just over 1 GW of capacity expected to be installed in 2021, although 440MW have a permit or even secured financing already. Although the target of 800 MW by 2020 might not be reached, total installations of 600-800 MW by 2021 seems realistic.

Posing the biggest obstacle right now to reaching this target is obtaining financing for projects with a bankable PPA. International investors see many risk factors in this emerging market such as arbitration law, curtailment, termination and government guarantees. Other hurdles include permitting, pricing and capacity-building, all of which must be taken into account when unlocking the market potential for wind energy in Vietnam.

All market participants are currently working to overcome these hurdles, and if they are successful, GWEC Market Intelligence expects the Vietnamese market to be an important wind market driving growth in the South East Asia region.

To give an official industry platform to discuss the challenges and opportunities in Vietnam’s budding wind market, GWEC is holding the second edition of Vietnam Wind Power on 11-12 June in Hanoi. These two-day event is organised in partnership with GIZ, the Danish Embassy in Hanoi and the Irish Embassy and will bring industry, financial institutions, government representatives, international organisations, and other stakeholders together to discuss the burning issues in Vietnam’s wind market. On top of the main conference which will feature high-level panel discussions on finance, policy, technology and offshore wind, we are also adding a Finance Workshop and Offshore Roundtable to the agenda in order to more meaningfully engage stakeholders on these key topics.

If you are interesting in learning more about Vietnam’s exciting wind market, this is the must-attend event and will set the stage for the next-steps in South East Asia.

Learn more about the event here: https://gwec.net/vietnam-wind-power-2019/

GWEC Event Highlight: GWEC and ECCT bring government and industry together at the Global Offshore Wind Summit – Taiwan

On the 25 April, over 400 industry leaders and high-level government stakeholders gathered in Taipei for the first Global Offshore Wind Summit – Taiwan to discuss the future of Taiwan’s offshore wind market. One thing became clear at the end of the day – Taiwan is ready to become a global leader for offshore wind.

“Taiwan has some of the best offshore wind farms located in the Taiwan Strait. To fully explore the potential of wind energy and reach the target of 20% renewable energy generation by 2025, the government has worked on building sound infrastructures and improving regulations to attract investment from both domestic and foreign offshore wind developers”, said Minister Shen Jong-Chin, Ministry of Economic Affairs for Taiwan.

In line with this ambition, Lee Chun-li, the Director General of the Bureau of Energy in Taiwan also announced at the event that Taiwan is aiming to increase its offshore wind energy generation capacity by 5 GW over a five-year period, starting in 2026. The plans for the third phase of the government’s offshore wind energy development project will be released in full later this year.

There was also local government support at the event, with the Mayor of Taoyuan City Cheng Wen-Tsan stating that investment in offshore wind will be an important driver of local economic growth and job creation for cities across Taiwan and that they are ready to take advantage of these economic opportunities.

It is not only the government that showed high interested in building up Taiwan’s offshore market, but the industry demonstrated a clear commitment to this emerging market.

This commitment was showcased at the High-Level CEO Panel, which was the first event in the region to feature such a level of high-level executives from leaders in the region including MHI Vestas, Macquarie Capital, Northland Power, Copenhagen Infrastructure Partners, wpd, Siemens Gamesa, and Orsted. The consensus from across this panel was that there is a reason these companies are still in Taiwan despite political uncertainty, and they are willing to work with the government to ensure that Taiwan can put in place the regulatory systems and best practices needed to encourage further offshore wind growth and ensure that Taiwan can reap the local economic benefits of this booming industry.

A roundtable meeting between local government stakeholders and industry also occurred within the framework of the Global Offshore Wind Summit – Taiwan, taking place a day before the event on 24 April in Taichung City Hall. Organised by GWEC and ECCT, this meeting brought together key mayors and local government stakeholders in the region to discuss progressing the development of the offshore wind industry in Taiwan.

Ultimately, this event demonstrated a meaningful turning point for both the government and industry in Taiwan, as both sides clearly showed a positive outlook for the future of offshore wind in the region and increased willingness to work together to make these ambitions a reality.

The next Global Offshore Wind Summit will take place 1-2 June in Guangdong, China. To find out more about this event and to register visit the event website: https://gwec.net/global-offshore-wind-summit-china/

Focus On: Project Financing in Vietnam 

In September 2018, the government of Vietnam increased its Feed-in-Tariff (FiT) of onshore projects from 7.8 US cents to 8.5 US cents, and also introduced the offshore tariff of 9.5 US cents. Other support mechanisms in the form of tax exemptions, such as import, corporate and land tax exemption, as well as exemption from Environment Protection Fees were also put in place.  Altogether, these measures have piqued the interest of the international developer community as eyes have gone to Vietnam to be the next big wind market in South East Asia.

The majority of the current projects have been largely installed by local companies and financed either by Official Development Assistance (ODA) or local banks. The 99MW Cong Ly near shore project was financed by US-EXIM, the Export–Import Bank of the United States, and the 24 MW Phu Lac project owned by EVN TBW was financed by KfW, the German development bank. Local banks, such as BIDV and Vietnam Development Bank, have also been financing local developers. 40MW by Trungnam Group which was recently inaugurated was financed by Vietnam Development Bank and they are likely to finance their second phase as well. The 30MW Huong Linh 2 developed by Tan Hoan Cau Joint Stock Corporation (THC) was completely financed by BIDV bank.

Yet, lack of project financing remains one of the key obstacles facing wind power development growth in Vietnam. One of the main reasons for the international developers abstaining from doing business in this market is that PPA’s are simply not bankable in Vietnam, which lead to the major challenges of lack of non-recourse financing in Vietnam. Furthermore, local banks do not have sufficient liquidity to finance wind power projects on a non-recourse basis. If the challenges of financing wind projects can be addressed, wind power development can grow exponentially in Vietnam.

Various unaddressed risk factors are preventing international developers from getting non-recourse financing for wind projects in Vietnam due to the PPA bankability. Below is a list of these risks perceived by the international banks:   

  1. Government Guarantee: Currently, the PPA doesn’t have a government guarantee, which means if EVN defaults the government will not step in. This is due to the fact that the value of Vietnam’s sovereign guarantee is constrained by its sovereign debt ceiling and they would want to be within those limits as they would not want financial assistance from World Bank or IMF.
  2. PPA termination: The standard PPA termination clause was quite onerous, basically stating that if EVN terminates the PPA, they will compensate the developer based on the revenue that was generated in the previous year and will not cover any future revenue losses. However, Circular 2, which was released earlier this year, made modifications to the clause to now allow the developer to claim future losses as well, but it does not give a clear guideline on how the losses will be calculated if the PPA is terminated.
  3. The Governing Law: Unlike standard practice of English Law in other countries in the region such as Indonesia, Thailand and the Philippines, the prevailing law in Vietnam is Vietnam Law. This means the legal system may not allow the same level of protection if an international developer wanted to take a legal course of action against a local company
  4. Arbitration: Arbitration will be done by the Renewable Energy Department, which is one of the government entities, instead of a neutral country’s arbitration agency such as Singapore International Arbitration Center.
  5. Curtailment: In the current rules and regulations PPA’s in Vietnam, there is no clause about compensation for curtailment. Thus, if EVN curtails a wind project, there is no take or pay mechanism to compensate the wind developer.

In South East Asia, very few markets have a FiT level as attractive as it is now offered in Vietnam – thus, the current challenges on PPA bankability boils down to risk vs returns.  We are now seeing the balance shifting as returns are beginning to outweigh the risks for some developers. The local banks have financed power projects, especially small hydro, where EVN is the offtaker. EVN has never defaulted on their payments, hence the banks have a certain level of comfort when they lend for power projects. Although financing wind energy projects is new for local banks, they are undertaking these projects on the basis of their existing relationship with the local company and their prior experience with EVN .

Innovation is the new buzzword for financing wind projects in Vietnam, with international as well as local developers finding innovative ways to finance their projects. There start to emerge some different risk mitigation strategies in the project fiannce process:

  1. Risk Converging:

The 30MW Huong Ling 1 by THC was an innovative solution that featured structuring a local bank guarantee to the offshore bank, who in turn received a further guarantee from the Export Credit Agency of Denmark (EKF).

  1. Risk Taken by developers:

The first phase of The 40MW Dam Nai project developed by Blue Circle took a completely different approach. They did a full equity financing for their first 6MW and then managed to obtaining financing from a combination of local and international banks for the remaining 34MW. 

  1. Risk Splitting:

Some International banks are also discussing on-lending models where they take the local bank risk and the local bank takes the PPA risks, as the local banks  don’t perceive the EVN default risk as a risk factor. In this case, the international bank will channel the funding through a local bank on the basis of agreed guarantees provided by the local banks.

Currently, the most common form of financing is where a local bank finances the project on a corporate balance sheet basis. With these innovative solutions being discussed more and more in Vietnam’s wind market, we could foresee international banks being involved in at least partial non-recourse basis.

At the end of the day, one has to acknowledge the fact that government has shown a level of commitment to increase the adoption of renewable projects in its energy mix. They have set targets of 800MW by 2020, 2GW by 2025 and 6GW by 2030.There are also various multilateral agencies working with the government to make PPA’s more bankable. With the FiT expiring by the end of October 2021, this will be an exciting period for executing wind power projects as there will be a rush to install projects before the end of the FiT.

On 11 June in Hanoi, GWEC is organizing a Finance Workshop as part of Vietnam Wind Power 2019. During this workshop, we will further untangle the main challenges to project financing and PPA bankability in Vietnam, while looking at new and innovative project finance models to ensure this budding market can reach its full potential. The finance workshop is gathering a number of industry leaders as speakers from wind developers, international and domestic banks, as well as funds and financial advisories. The speakers including BNEF, Mainstream Renewable Power, UPC Renewables, The Blue Circle, IFC, BNP Paribas, Astris,

The workshop also features an exclusive presentation from Carbon Tracker about the economic and financial risks of coal power in Vietnam as well as a USAID Clean Power Asia Training Workshop, this one-day workshop will be an important platform to discuss how we can overcome the project financing challenges in Vietnam. Attended by industry leaders in the region, international and local financial institutions, as well as government stakeholders, if you are at all interested in doing business in Vietnam’s wind market, this is the conference you don’t want to miss.

Learn more about Vietnam Wind Power 2019 here: https://gwec.net/vietnam-wind-power-2019/

Learn more about the Finance Workshop here: https://gwec.net/vietnam-wind-power-2019-finance-workshop/

May 22, 2019

Purpose
Operation and Control Engineer is responsible for supporting Engie North America’s IT and Operations Technology Engineering team the ongoing support of our Canadian renewable energy which consist of 13 generation assets coast to coast in Canada including a mix of Wind, Solar generation assets.

Reports to
IT/OT Manager – Canada

Location/Department
Markham, Ontario/ Asset Management

Vacancy Status
Local Contract Only

Status
Salary

Essential Job Functions

  • Reporting to the IT/OT Manager for Canada and secondarily to the Director of Operations.
  • Operation and Control Engineer is responsible for supporting and managing all Operations Technology Assets across Canada.
  • Participate and support site safety and environmental management systems; assure safety and environmental considerations are included in engineering products and solutions.
  • Design, plan, integrate, test and commission power system applications per defined requirements.
  • Identifies operational problems by observing and studying system functioning and performance results; investigating complaints and suggestions; interviewing process supervisors and operators; completing troubleshooting procedures.
  • Identifies operational priorities by assessing operational objectives; determining project objectives, such as, efficiency, cost savings, energy conservation, operator convenience, safety, environmental quality; estimating relevance, time, and costs.
  • Desired working knowledge of power generation equipment, substations, DVAR/DSTATCOM and SCADA control systems.
  • Develop/coordinate protective relay settings.
  • Protection & relay coordination studies.
  • Stay up to date with the latest industry standards and other requirements.
  • Knowledge of interfacing with SCADA, PLC etc.
  • Responsible for verifying accuracy of reports and documents related to plant performance and equipment, following-up with suppliers and service providers when required, and preparing reports or notifications as required.
  • Evaluate and develop site improvement projects. Provide economic justification, develop RFQ’s, evaluate bids and contract terms & conditions and award purchase orders, manage contractors, QA/QC monitoring, field change requests and develop budgets and manage cost control responsibilities for projects.
  • Provide technical guidance support and maintenance procedures.
  • Knowledge of various building, industrial and utility communication protocols like Modbus and DNP3.
  • PLC arrangements, I/O list. PLC programing and HMI programming capability is an asset.
  • Perform tier 2 support on complex technical issues associated with control system applications and the associated platforms.
  • Work with team to ensure that the control system applications and platforms are maintained according to standards, adhere to policies, and in compliance with NERC.
  • Present engineering analysis, plans and recommendations to site staff, management and directors.
  • May be required to work extended periods of time without relief when responding to priority/emergency situations (including overtime type assignments); may require shift work, weekend and holidays work, and/or on call duties.
  • Work multiple projects including supporting future development projects.
  • Carries out other duties as assigned.

Requirements

  • 5 to 7 years of related experience preferably within the Renewable or Power Systems industry.
  • Excellent communication skills in either English or French, with bilingualism an asset.
  • Strong interpersonal skills.
  • Leadership skills to manage and supervise people and or contractors.
  • A valid Passport and valid Canadian Driver’s Licence.
  • Technical skills and the ability to learn and adapt.
  • Works with minimal supervision, manages own time effectively, maintain control over all current projects/responsibilities. Follow up on all relevant issues.
  • Excellent judgement and creative problem solving skills, including influencing, consulting, negotiation, and the agility to lead and drive complex and critical solutions while adapting to changing priorities.

Essential Physical Abilities

  • Ability to meet highest attendance requirements.
  • Ability to communicate effectively, both written and verbally.
  • Ability to handle multiple assignments on a timely basis with a high degree of accuracy.
  • Ability to use computer, calculator, etc.
  • Ability to lift 50lbs of weight.
  • Ability to climb ladders and work in heights > 250ft; enter confined spaces as required to complete assigned tasks.
  • Ability to travel, and engage in on-site troubleshooting.

Education/Experience

  • Bachelor degree in Electrical Engineering, Computer Science or related field required.
  • Registered or ability to register as a Professional Engineer in Canada.

Working Environment (85% indoors, 15% outdoors)

Work environment characteristics described here are representative of those that must be met by an employee to successfully perform the essential functions of this job.  Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.  

The noise level in the work environment is usually moderate.

“All qualified applicants will receive consideration for employment without regard to race, color, sex, sexual orientation, gender identity, religion, national origin, disability, veteran status, or other legally protected status”.

ENGIE North America Inc. encourages individuals to apply for open positions using the Apply Online button below.  However, if you are unable to complete your application on-line you may mail your resume to our address: ENGIE North America Inc., Attn: Human Resources, 1990 Post Oak Boulevard, Suite 1900, Houston, TX 77056.

Apply online

Together with the entire Product Development team, the Senvion Patent Department is constantly looking for innovative approaches that will make Senvion and the wind industry better, cheaper or more adaptable in the future. In this case, the Senvion colleagues have jointly managed to find a patent solution for sound emissions from the turbines in the truest sense of the word. The “Hamburger Wirtschaft” magazine has taken a close look at the innovation:

Senvion has developed an innovative procedure for reducing the operating noise of wind turbines. The innovation and patent center has selected it as ‘Patent of the Month.’

Wherever wind turbines are installed, one topic generally arises sooner or later: are the turbines too loud?

It is a fact that roughly one third of German gross electricity consumption is currently covered by renewable energy sources. In 2016, wind energy usage in particular was further expanded in Germany. According to the register of installations of the German Bundesnetzagentur for Electricity, Gas, Telecommunications, Post and Railway, new onshore wind turbines with a total power of 4,402 megawatts were commissioned. This represents a 10 percent increase on the previous year. One of the manufacturers of wind turbines is Senvion GmbH (up to 2014: REpower Systems), which has its German headquarters in Hamburg.

Less and less space is available for wind farms. To achieve more power, old turbines are being replaced with new ones and increasingly wind farms are being built closer to residential areas or nature reserves. “The importance of noise protection has increased,” says Ulrike Keltsch, head of the patent department at Senvion. In addition to residents, animals can also be disturbed by the operating noises.

In summer 2015, Senvion's Development department applied for a patent for a procedure that can reduce the sound volume of the wind turbines in operation. The noise emissions of wind turbine generators include broadband noises that form a masking noise. However, narrowband noises may also be audible under certain circumstances; for example they can be caused by a generator or a gearbox of the wind turbine. The invention consists of a noise emission control device for a wind turbine that reduces any noises that may arise by surrounding them with the broadband noises that are more pleasant for humans and animals. This is achieved by means of an active noise source that emits a masking noise in at least one spatial direction in a frequency band around the individual sound frequency.

“This control device is not yet available,” says Keltsch. “Our turbines are quiet enough for the existing wind farm sites.” Senvion's engineers frequently develop their inventions preventatively, looking to the future. However, since the requirements regarding generating volume are in-creasing, the turbines themselves will also increase in size , and Keltsch believes that it is perfectly possible that the invention will come into use. If a customer wants a noise reduction measure, for a new construction or a retrofit, prototypes of the control device would then be in-stalled and tested in an existing wind farm, Keltsch states. “We would probably have to perform two to three correction cycles before the invention is implemented perfectly,” says Keltsch. Then Senvion would talk to the suppliers, clarify the supply chain, order the necessary individual parts, and finally manufacture the product in a small production run. The invention could then be tested in practice, and be ready for operation within four to twelve weeks.

Courtesy Senvion

There is a growing trend in the international wind industry: The technological evolution of wind turbines is moving towards machines with larger rotors to better capture wind at low wind sites. France is fully participating in this movement. At the Lussac-Les-Églises wind farm Senvion completed the installation of six 3.0M122 wind turbines with rotor diameters of 122 meters, as large as the diameter of the famous Ferris wheel “London Eye”.

The wind farm, developed by Quadran Groupe Direct Energie, is located in the French department of Haute Vienne. Guirec Dufour, Construction Director at Quadran states: "Lussac-Les-Églises is a low wind site and the wind turbine 3.0M122, capturing the most energy, allows us to optimize the yield of our project. However the challenge was the transportation of the blades to the site. The Blade Lifter solution, proposed by Senvion, made this project possible.”

Each blade is measured at 60 meters and weighs 15 tons. The blades were transported over a distance of 200 kilometers, from the port of La Rochelle to Poitiers, where a transshipment area was used to equip the Blade Lifter. From there the transport went on the challenging route to Lussac-Les-Églises.

Florian Dufresne, Senvion Europe South West Logistics Coordinator explains: "The only possible route for the convoy was to cross the village of Lussac-Les-Églises. However, the total length of the semi-trailer carrying the blade, is 66 meters. With such a ground length, it is impossible to turn in the many tight corners of the village. Facing this challenge, we opted for an innovative solution: The Blade Lifter. By lifting the blade to a 30 degrees angle, the ground length could be reduced to 17 meters, which allowed the safe passage of the convoy."

Technically, the Blade Lifter can lift the blade to 50 degree angles for the passage of even longer blades. The residents of the town were impressed by the technical prowess of this equipment. Guirec Dufour adds: “Thanks to a close collaboration between the Quadran and Senvion teams, the particularities related to the use of the Blade Lifter - transshipment location, moving telecommunications and power lines, pruning - were efficiently managed. This good collaboration limited the impact of the oversized transportation on the village residents and made the commissioning of the wind farm possible without any delay.”

Installing a 122-meter rotor at 89 meters height was also a challenge. The excellent coordination of the teams, a precise planning, while integrating the environment constraints and the uncertainties of the weather conditions, were essential to successfully install the six wind turbines with such a large dimension. Samson Lecluyse, Senvion Europe South-West Project Manager states: "The construction of the Lussac-Les-Eglises wind farm was an exciting project. The complexity for this wind farm lies in the environment with high wooded obstacles, which is close to the lifting zones. Due to the very large dimension of the components, the Senvion team had to prepare the ground with a maximum of rigor and precision so that the project is realized within the deadlines defined in the planning."

The Senvion team is proud to have met all the delivery and installation challenges of this project. The Lussac-Les-Églises wind farm, with a total capacity of 15 megawatts (MW) was commissioned beginning of November 2017. It will produce enough electricity to power nearly 15,000 people (including heating) in France.

Senvion is now ready to meet other challenges, including the transport of wind turbines with even longer blades: the newly announced Senvion turbine 3.7M144 EBC has blades over 70 meters long!

Courtesy Senvion

At the Ria Blades production plant, rotor blades with a length of 74 meters are now manufactured. A completely new production process was designed for this purpose. In line with the continuous improvement approach of the production processes, an efficient robot was developed in cross-functional collaboration.

One of the most photographed monuments in Portugal is located in Lisbon at the mouth of the river Tejo in the Atlantic. The "Padrão dos Descobrimentos", a 56 meter high sailing vessel made of stone and concrete, is dedicated to sailors and explorers. The monumental mosaic of a compass is adorned on the ground in front of the monument. Wind has always been a mainstay of development in the coastal state at the south-west corner of Europe. The wind, which the Portuguese explorers capitalized on more than half a thousand years ago, is now also used by Senvion.

250 kilometers north of Padrão dos Descobrimentos, in the industrial region of Aveiro, Senvion can be found in the town of Vagos. Here, Ria Blades is located on an area of 83,000 square meters where currently 1300 colleagues are employed.

Francisco Mira, Process Engineer at Ria Blades, stands in the plant's largest manufacturing facility: "To make rotor blades of this enormous size, we had to greatly expand the site and completely redesign the manufacturing process. The concept then arose with the cooperation of different departments - production, maintenance and HSE (Health, Safety & Environment). But the close collaboration with our suppliers and partners was also essential. This was a real team effort and I am proud that we have worked hand in hand to find the best solution in the end."

At the center of the manufacturing process are two semi-automated processes. On the one hand, the stacking of the fiberglass layers of some rotor blade components. So far this process has been carried out manually in a time-consuming manner, since the positioning of the different layers required the highest precision. In Portugal, RodPack technology is used which has much better material properties than conventional glass fibers and opens up new production possibilities. Thus, in the new process, each fiberglass layer is precisely set in the right place effortlessly by the equipment. Francisco Mira explains, "RodPack was the reason why we completely changed this process." The result is that there are considerably fewer shifts and working hours needed to complete the rotor blade.

The second process is now almost completely taken over by an equipment that sands the rotor blades before painting. While the rotor blades were previously sanded with a 35 kilogram sanding machine, which had to be operated by two people, 90 percent of this work is now done by robots, which are monitored by a colleague.

"Both processes, the semi-automatic fiberglass lay-up and the sanding process are thus much faster, more efficient and physically less strenuous. What is clear with Mira, however, is that "humans are responsible for decisions and will remain indispensable. A machine remains a machine.


Originally, Francisco Mira comes from the automotive industry. Since 2015 he has been with Ria Blades. "A lot of things in the organization and the way of thinking reminds me of my previous work: precision, flexibility, lean production concepts or high quality requirements. But we are trying to absorb the experience from very different branches of industry and make it usable for us. In particular, it is decisive for us to have the ability to think 'out of the box'. This is the only way to revolutionize the manufacturing process."

Courtesy Senvion

AMSTERDAM, November 28, 2017 -- The World Bank and the Technical University of Denmark (DTU) today launched new Global Wind Atlas, a free web-based tool to help policymakers and investors identify promising areas for wind power generation, virtually anywhere in the world. 

The Global Wind Atlas is expected to help governments save millions of dollars by avoiding the need for early-stage, national-level wind mapping. It will also provide commercial developers with an easily accessible platform to compare resource potential between areas in one region or across countries.

The new tool is based on the latest modeling technologies, which combine wind climate data with high-resolution terrain information—factors that can influence the wind, such as hills or valleys—and provides wind climate data at a 1km scale. This yields more reliable information on wind potential. The tool also provides access to high-resolution global and regional maps and geographic information system (GIS) data, enabling users to print poster maps and utilize the data in other applications.

The Global Wind Atlas was unveiled at an event at the Wind Europe Conference in Amsterdam, following the successful launch of the Global Solar Atlas earlier in the year.

Solar and wind are proving to be the cleanest, least-cost options for power generation in many countries. These tools will help governments assess their resource potential and understand how solar and wind can fit into their energy mix. An example of how good data can help boost renewable energy is Vietnam where solar maps from the Global Solar Atlas laid the groundwork for the installation of five solar measurement stations across the country.

“There is great scope in many countries for the clean, low-cost power that wind provides, but they have been hampered by a lack of good data,” said Riccardo Puliti, Senior Director and Head of the World Bank’s Energy & Extractives Global Practice. “By providing high quality resource data at such a detailed level for free, we hope to mobilize more private investment for accelerating the scale-up of technologies like wind to meet urgent energy needs.”

The work was funded by the Energy Sector Management Assistance Program(ESMAP), a multi-donor trust fund administered by the World Bank, in close partnership with DTU Wind Energy.

“The partnership between DTU Wind Energy and the World Bank allows us to reach a broader audience, especially in developing countries while remaining at the forefront of wind energy research. We are excited by the scientific advances that the new Global Wind Atlas incorporates, and look forward to seeing how this data can enable countries to advance wind projects,” said Peter Hauge Madsen, Head of DTU Wind Energy.

While the data powering the Global Wind Atlas is the most recent and most accurate currently available, it is not fully validated in many developing countries due to the lack of ground-based measurement data from high precision meteorology masts and LiDARs. ESMAP has funded a series of World Bank projects over the last four years to help fill this gap, with wind measurement campaigns under implementation in Bangladesh, Ethiopia, Nepal, Malawi, Maldives, Pakistan, Papua New Guinea, and Zambia. All measurement data is published via https://energydata.info, a World Bank Group data sharing platform.

Courtesy The World Bank

WIND POWER CONTINUES TO SET RECORDS

On May 16, 2017, the state of California set a new record—that day, it generated 42% of its electricity from wind and solar, and peaked at 72% that afternoon. In addition to this wind power record, wind farms by themselves accounted for 18% of the state’s needs. But renewable energy’s popularity doesn’t just extend to California. According to the Global Wind Energy Council, the total generating capacity of wind farms around the world is now greater than all of the world’s nuclear power plants combined.

So what’s driving this growth? One answer is innovation. The “levelized cost of electricity” (LCOE)—a key number that measures electricity’s costs—has fallen 58% over the past six years. Additionally, the use of  wind turbine management software—like GE’s Predix—has let operators run their wind farms more efficiently, lowering maintenance costs and saving money. In fact, GE estimates that by deploying its Digital Wind Farm solutions and wind turbine software, the wind industry could save as much as $10 billion a year. One thing’s for sure: with 30,000 GE wind turbines deployed across the globe and capable of generating more than 57 GW of electricity, wind energy isn’t going anywhere.

Learn more about GE’s wind power software and Digital Wind Farms by contacting us today.

Read the full story at https://www.ge.com/reports/wind-blows-innovation-dropping-costs-drive-renewables-growth/

Courtesy GE Renewable Energy

ENERCON is developing two new types of converter for its 3 megawatt platform (EP3). E-126 EP3 and E-138 EP3 are designed for sites with moderate and low winds respectively, and are scheduled to go into production in late 2018 and late 2019. As well as promising much improved performance and efficiency, the two new converters will benefit from optimised processes for production, transport and logistics, and installation. ENERCON will be introducing the two converter types for the first time at the Brazil Windpower event in Rio de Janeiro (29 to 31 August).

The machines are ENERCON’s response to new challenges facing converter technology in the important 3 MW segment. “We are increasing overall performance significantly”, says Arno Hildebrand, Director of System Engineering at ENERCON’s research and development arm, WRD. The greater efficiency will come mainly from an increase in swept area and in nominal power. The E-126 EP3 will have a rotor diameter of 127 metres and a nominal power of 3.5 MW, and is being designed for sites with moderate wind conditions in Class IIA (IEC). The E-138 EP3 will also have a nominal power of 3.5 MW, but with a rotor diameter of 138 metres it is intended for use at low-wind sites in Class IIIA (IEC).

“At sites with moderate wind speeds of 8.0 m/s at hub height, the yield of the new E-126 EP3 will therefore be more than 13 percent higher than that of our existing E-115 model”, says Hildebrand. Annual energy yields of more than 14.5 million kilowatt hours (kWh) are forecast for a typical Wind Class IIA site with speeds of 8.0 m/s at a hub height of 135 metres. As for the E-138 EP3 – a completely new type of converter, and the first low-wind turbine to feature in ENERCON’s EP3 portfolio – the developers calculate that, at a typical low-wind site with average speeds of 7.0 m/s at a hub height of 131 metres, annual energy yields in excess of 13.2 million kWh can be achieved.

Not only that, but the two converter types will be consistently streamlined for efficiency. Every single process – from production to transport and logistics, installation and commissioning – will be optimised. The E-126 EP3 and E-138 EP3 will be available with a choice of hybrid or tubular steel towers with hub heights of between 81 and 160 metres. Installation of the E-126 EP3 prototype is scheduled for as early as the third quarter of 2018; it will enter series production later that year. ENERCON plans to erect the E-138 EP3 prototype in the fourth quarter of 2018, then introduce a few pre-series machines in 2019 before full production begins towards the end of 2019.

Courtesy ENERCON

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Grid List

The World Bank and the Technical University of Denmark today launched new Global Wind Atlas, a free web-based tool to help policymakers and investors identify promising areas for wind power generation, virtually anywhere in the world.

The Global Wind Atlas is expected to help governments save millions of dollars by avoiding the need for early-stage, national-level wind mapping. It will also provide commercial developers with an easily accessible platform to compare resource potential between areas in one region or across countries.