Shell 2024 Financial Results, Mitsubishi Reviews Offshore Projects

On News Flash, Allen and Phil discuss Caverion's acquisition of Huolto-Lepistö, Mitsubishi re-evaluating their offshore wind assets and Shell's 2024 financial report. Fill out our Uptime listener survey and enter to win an Uptime mug! Register for Wind Energy O&M Australia! https://www.windaustralia.com Sign up now for Uptime Tech News, our weekly email update on all things wind technology. This episode is sponsored by Weather Guard Lightning Tech. Learn more about Weather Guard's StrikeTape Wind Turbine LPS retrofit. Follow the show on Facebook, YouTube, Twitter, Linkedin and visit Weather Guard on the web. And subscribe to Rosemary Barnes' YouTube channel here. Have a question we can answer on the show? Email us! Welcome to Uptime News Flash. Industry news lightning fast. Your hosts, Allen Hall, Joel Saxum, and Phil Totaro discuss the latest deals, mergers, and alliances that will shape the future of wind power. News Flash is brought to you by IntelStor. For market intelligence that generates revenue, visit www.intelstor.com. Allen Hall: Well Phil, a busy week in mergers and acquisitions. Caverion has acquired Huolto-Lepistö’s, a wind turbine maintenance business. Now this acquisition gives Caverion a new base on Finland's west coast. And the acquired business specializes in wind turbine service lifts. Repairs, inspections, and maintenance. There does seem to be a lot more activity in Finland Phil Totaro: for wind. Yeah. And, and as their installed base grows they have a lot of large turbines up there in, in Finland. So I think the average, if I remember correctly based on our data and Intel store, the average turbine size in Finland these days is Something like. 5. 5 megawatts and upwards of like 140 something meter rotor. Again, taking the entire installed base in, into account. So, growing installed base, big turbines, big responsibility, and. Admittedly, I don't know very much about Kaverian as a company, but looking into it after this deal was announced earlier this week it's, it's very interesting how they're trying to position themselves. And the fact that they want to go after the, the wind services market also demonstrates, I think that they're making a commitment to a segment that they see a lot more growth potential with. Allen Hall: Over in Japan, Mitsubishi Corporation is reviewing its offshore wind projects due to significant changes in the business environment. Now, the company leads consortia that won three projects in Japan's first state run offshore wind auction in 2021, and those projects total about 1. 7 gigawatts of capacity. Capacity. The partner company, Chubu Electric, posted an 18 billion yen loss on these projects. It looks like Mitsubishi is trying to reevaluate the profit margin on these projects, and with the high inflation in Japan and maybe even stagnation b...