energy insurance News

Baltic States Beef Up Infrastructure Defense After Suspected Pipeline Sabotage

Power grid operators around the Baltic Sea are beefing up protection of subsea cables and other critical infrastructure after the suspected sabotage on a gas link between Finland and Estonia last weekend. Government officials in Lithuania ordered more naval patrols …

Finland Says Damage to Gas Pipeline, Telecoms Cable Likely Result of Deliberate Act

A subsea gas pipeline and a telecommunications cable connecting Finland and Estonia under the Baltic Sea have been damaged in what may have been a deliberate act, the Finnish government said on Tuesday. NATO Secretary General Jens Stoltenberg said NATO …

Wind Power Industry Hit by Perfect Storm of Supply Chain Delays, Design Flaws, Costs

A perfect storm of supply chain delays, design flaws and higher costs in the offshore wind industry has put dozens of projects at risk of not being delivered in time for countries to meet climate goals, industry executives, investors and …

Australia’s New Hope to Ramp Up Coal Output, Sees Modest Insurance Premium Hikes

Australian miner New Hope Group’sCEO Rob Bishop said on Tuesday plans are progressing to double output over the next three years to meet an expected surge in demand for coal-fired power, after reporting a nearly 11% rise in fiscal 2023 …

Extreme Heat Threatens Global Fuel Security

Searing temperatures from Texas to Tokyo over the summer are the latest reminder of a growing headache for the energy system, as extreme heat becomes a threat to fuel supply. In addition to causing spikes in electricity demand as people …

Baseball-Size Hail Makes Insuring Solar and Wind Farms Pricier

The Scottsbluff solar farm in western Nebraska was built to withstand most hailstones. But the icy pellets that rained down in late June were bigger than baseballs. The hail — part of a larger pattern of severe storms, heat and …

Siemens Energy Investigates Wind Unit With Twin Taskforces

Siemens Energy AG has established an internal taskforce and supervisory board committee after a string of quality problems with its wind turbines triggered a record share price drop, a person familiar with the matter said. The groups will add scrutiny …

Siemens Energy’s Turbine Troubles Rattle Wind Sector

Siemens Energy’s disclosure of quality issues in its newer wind turbine models has exposed broader challenges in a sector suffering from rushed development, soaring materials costs and a flawed market design. Siemens Energy shocked the wind sector in late June …

Wind Turbines That Shake and Break Cost Their Maker Billions

Wind turbines make money when they spin. But when they shake, it can cost billions. Siemens Energy AG is struggling to contain the fallout after discovering a main piece on the frame of its wind turbine can move or twist …

European Energy Developers Play Down Siemens Gamesa’s Wind Turbine Troubles

Major wind power developers including Iberdrola, RWE, EDP Renovaveis and Orsted played down the impact of potential problems with Siemens Gamesa onshore wind turbines. Siemens Gamesa parent Siemens Energy last week said problems with its more recent onshore platforms could …