Supporting the Developing Renewables Sector

Coltraco Ultrasonics are proud to see the developments in the wind energy and to be a part of the UK’s renewable energy sector via work supporting leading wind turbine operator to improve their fire safety through an ultrasonic liquid level indicator, the Portalevel® MAX. Coltraco Ultrasonics provide smart Safesite® solutions which enable wind turbine owners and operators to improve their fire safety management and reduce the risks to human life, business continuity caused by any downtime and thus minimise risk to reputation.

In an interview with Shipping Watch, a major oil and gas company Statoil announced today that they plan to invest around NOK 100 billion in renewable energy from now until 2030. The first step will be the launch of the world's largest offshore wind farm.

Back in July 2014, Statoil decided to invest NOK 5.5 billion in the British offshore wind farm Dudgeon. The reason for the journey over the North Sea, where the interview takes place, is the inauguration of this now-finished wind farm. Since 2014, Statoil has declared its commitment to floating offshore wind, particularly the Hywind concept. As recently as this October, USD 25 million was invested in a Brazilian solar project.

Offshore wind has gone through several phases. In recent years, the technology has been undergoing a new phase, in which most parties have faith in it due to the huge price plunge of more than 50 percent. Beyond just efficiency gains, this has led to declining margins. But Statoil still expects to make sizeable profits when the farms are complete. "The risk in offshore wind is less than for oil and gas and the costs have been under significant pressure. We base our work on making actual returns on renewable energy of 9-11 percent," Sætre tells Verdens Gang.

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