← Back to News
energy

Offshore Energy Solutions Expand in North Sea and Texas

By MGN EditorialMarch 24, 2026 at 04:05 PM

A roundup of recent news on offshore energy projects, including a new subsea crane contract, an FPSO deal, and a large-scale energy storage project financing.

## Subsea Crane Contract for European Shipowner Norway-based advanced lifting solutions provider Red Rock has secured a contract to supply subsea cranes to a European shipowner, expanding its presence in the offshore energy market. According to Offshore Energy, the deal will see Red Rock deliver its subsea crane technology to support the shipowner's operations in the North Sea. 'This contract marks an important milestone for Red Rock as we continue to grow our footprint in the subsea crane market,' said Red Rock's CEO. 'Our innovative solutions are well-suited to meet the demanding requirements of offshore energy projects, and we look forward to working closely with this customer to deliver a successful project.' ## New North Sea FPSO Contract for EnerMech Integrated solutions specialist EnerMech has won a new multi-year contract with Malaysia's Bumi Armada for a floating production, storage, and offloading (FPSO) vessel operating in the UK North Sea. According to Offshore Energy, the deal will see EnerMech provide a range of services including mechanical, electrical, and instrumentation support. 'This contract award is a testament to EnerMech's strong track record in the North Sea FPSO market,' said EnerMech's regional director. 'We are pleased to continue our long-standing relationship with Bumi Armada and look forward to supporting the safe and efficient operation of this critical offshore asset.' ## $139.6M Financing for Texas Energy Storage Project esVolta, a leading developer of utility-scale battery energy storage projects, has secured $139.6 million in financing for its 300 MWh Boxcar energy storage project in Texas, according to a press release. Once operational, the project will bring esVolta's total ERCOT energy storage portfolio to nearly 1.6 GWh. 'This financing milestone represents another step forward in esVolta's mission to accelerate the transition to a carbon-free energy future,' said esVolta's CEO. 'The Boxcar project will play a key role in supporting grid reliability and integrating renewable energy sources in the ERCOT market.' The Boxcar project is expected to be one of the largest battery energy storage facilities in Texas upon completion.
#offshore energy#subsea cranes#fpso#energy storage#texas

Related Articles

Middle East Crude Export Collapse Reshapes Global Energy Trade Flows

A dramatic 60% collapse in Middle East crude exports between February and March 2026 has forced Europe and Asia to rapidly restructure their energy supply chains, according to Wood Mackenzie's VesselTracker data.

Apr 18, 2026

Offshore Energy Sector Accelerates: Wind Infrastructure and Fleet Expansion Signal Market Growth

Global offshore energy markets show accelerating momentum as wind developers secure new survey licenses and vessel operators expand fleets, while regulatory frameworks take shape around shipping emissions.

Apr 18, 2026

LNG Fleet Expansion and Offshore Infrastructure Growth Signal Strong Energy Sector Momentum

Recent developments in liquefied natural gas operations, offshore exploration support, and maritime infrastructure underscore robust growth in the global energy sector, with new carriers entering service, expanded regional markets, and enhanced subsea capabilities.

Apr 18, 2026

Shanghai Electric Reports Record New Orders, 9% Revenue Growth in 2025

Shanghai Electric achieved record-breaking new orders and strong financial performance in 2025, with revenues reaching 126.68 billion yuan amid growing demand for offshore and renewable energy solutions.

Apr 18, 2026

Shanghai Electric Posts Strong 2025 Results With Record New Orders

Shanghai Electric reported 2025 revenues of 18.58 billion USD with 9% year-over-year growth and achieved record new order volumes, reflecting robust global demand for power generation and infrastructure solutions.

Apr 18, 2026