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United Nations High Commissioner for Refugees Tunisia

CONTRIBUTION TO UNHCRS ACTIVITIES IN TUNISIA 2024

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CONTRIBUTION TO THE ICRC APPEAL IN ISRAEL AND THE OCCUPIED TERRITORIES 2024

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Taiwan’s First Far Offshore and Large-Scale Wind Project Inaugurated

The Greater Changhua 1 and 2a offshore wind project was officially inaugurated at an event in the Port of Taichung, Taiwan, on 25 April 2024. With a total installed capacity of 900 MW, the project is in operation and fully connected to the grid, making it the largest in Taiwan and the Asia-Pacific region, said Ørsted, the developer of the offshore wind farms. Offshore construction on Ørsted’s Greater Changhua 1 and 2a wind farms started in the summer of 2021 with the installation of the first wind turbine jacket foundation and the laying of the first export cable. A year later, all the jacket foundations were installed at the construction site, located 35-50 kilometres off the coast of Changhua County. The wind farm produced its first power in April 2022, after the installation and energisation of the first batch of its Siemens Gamesa SG 8.0-167 DD turbines. The last wind turbine was placed on its jacket foundations in February 2024 while all the units were connected to the Taiwanese grid two months later. “With today’s inauguration, we’re celebrating a landmark achievement for Ørsted and for Taiwan. Greater Changhua 1 and 2a are our first gigawatt-scale offshore wind farms outside of Europe. They’re also Taiwan’s first utility-scale far-shore wind farms and the largest of their kind in APAC, reaffirming Taiwan as the frontrunner in the region,” said Mads Nipper, Group President and CEO of Ørsted. Initially, the Greater Changhua 1 and 2a offshore wind farms were planned to be completed in 2023 but that was pushed back to 2024 after the developer announced that it was experiencing delays due to bottlenecks in the supply chain. The 605 MW Greater Changhua 1 is owned by Ørsted (50 per cent), and a consortium comprising Caisse de dépôt et placement du Québec (CDPQ) and the Taiwanese private equity fund, Cathay PE (50 per cent). The 295 MW Changhua 2a is owned solely by Ørsted. The 900 MW project inaugurated on 25 April is part of Ørsted’s Greater Changhua offshore wind zone, which also comprises Greater Changhua 2b, Greater Changhua 3, and Greater Changhua 4. The zone has a combined capacity of approximately 2.4 GW. “In 2024, Ørsted has a record 7.6 GW of offshore wind projects under construction worldwide, including our next big project in Taiwan, the 920 MW Greater Changhua 2b and 4,” said Nipper. Taiwan

Fugro Secures More Work on 3 GW Dogger Bank South

RWE and Abu Dhabi-based Masdar have appointed Dutch geo-data specialist company, Fugro, to carry out geotechnical seabed surveys at the Dogger Bank South (DBS) offshore wind project sites in the UK. Located over 100 kilometres off the northeastern coast of England, the DBS offshore wind farm will be split across two sites, DBS East and DBS West, each with a capacity of 1.5 GW and spanning 500 square kilometres. Three vessels, Fugro Quest, Fugro Voyager, and Normand Mermaid, will survey the ground conditions below the seabed from June to October 2024 at the location of each proposed turbine and platform foundation, and associated seabed infrastructure. The ground investigation will use a combination of Cone Penetration Tests (CPT) and sampling boreholes and will be an extensive geotechnical campaign for one of the world’s largest offshore wind projects. According to a social media post by RWE, the findings from the seabed surveys will give the developers a detailed and accurate picture of the ground conditions which will help them in designing the optimal foundations and array cables for the sites. RWE entered into agreements for lease for the DBS projects with the Crown Estate in January 2023. Construction on the projects could start as early as the end of 2025, with the first 800 MW of electricity planned to come online in 2029. Based on an estimated combined capacity of approximately 3 GW, once fully commissioned, DBS could provide green electricity for the equivalent of about three million UK homes. This is not the first time Fugro will carry out surveys at DBS sites. In 2022, the company performed surveys at the array sites and export cable routes of RWE and Masdar’s DBS East and DBS West projects. United Kingdom

Greek Firm Completes Cable Installation for French Floating Wind Pilot Project

Greece-based Asso.subsea has completed the cable installation, burial, and protection operations for the Provence Grand Large floating offshore wind project in France. France

Subsea7’s Backlog Remains ‘Robust’ with High Tendering in Subsea and Offshore Wind

Subsea7 has reported a “robust” backlog of USD 10.4 billion in its financial results for the first quarter of 2024, with tendering activity high in both the subsea and offshore wind sectors. To remind, in the financial results for the full year of 2023, Subsea7 reported it had secured USD 7.4 billion of contract awards last year, taking its backlog to USD 10.6 billion, a year-end level last seen in 2013. In the first quarter of 2024, order intake was USD 1.3 billion comprising new awards of approximately USD 830 million, including the Trion deepwater oil project in Mexico and Baltica 2 offshore substations in Poland. The backlog at the end of March was USD 10.4 billion, of which USD 4.8 billion is expected to be executed in 2024, USD 4.1 billion in 2025, and USD 1.5 billion in 2026 and beyond. USD 8.4 billion is related to the Subsea and Conventional business unit and USD 2 billion to the Renewables business unit. Revenue for the first quarter was USD 1.4 billion, an increase of USD 149 million or 12 per cent compared to the first quarter of 2023, said to be due to increased activity in the Subsea and Conventional business unit with strong demand within the offshore oil & gas sector. Adjusted EBITDA was USD 162 million, an increase of USD 55 million or 52 per cent compared to the first quarter of 2023, said to be driven by the Subsea and Conventional business unit reflecting high activity levels and the execution of projects awarded at improved margins. Net operating income was USD 20 million compared to a net operating loss of USD 15 million in the prior year period. Net finance costs of USD 14 million, a net foreign exchange gain of USD 49 million, and a tax charge of USD 26 million resulted in net income for the quarter of USD 29 million compared with a net loss of USD 29 million in the prior year period. Net debt was USD 782 million, including lease liabilities of USD 572 million, up from USD 458 million on December 31, 2023, reflecting the addition of two new vessel charters and the extension of one existing vessel charter. “Subsea7 delivered a strong operational and financial performance in the first quarter with Adjusted EBITDA of $162 million – up 52% on the prior year – and the Group is on track to achieve its full year objectives. Our backlog remained robust at $10.4 billion, giving us clear visibility on t Mexico

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