How UK Fight for Offshore Wind Jobs Could Reset the Supply Chain. As jobs leak overseas, the U.K. government is under pressure to make the offshore industry’s local content promises binding. The U.K.’s contracts for difference scheme has been praised for delivering projects at ever more competitive prices with investor-friendly guaranteed revenue. This has certainly proved the case for the scheme’s largest beneficiary, the offshore wind sector. But there is growing discontent, especially among trade unions, that developers awarded these 15-year deals from the U.K. government in Westminster are not doing enough for the local communities they impact. In March the industry agreed with the government to increase the targeted proportion of local content going into projects from 48 percent to 60 percent by 2030 as part of a nonbinding “Sector Deal.” That’s a lot of potential business given that the country’s official climate adviser, the Committee on Climate Change, is calling for 75 gigawatts in U.K. waters by 2050, building on the current installed base of 9 gigawatts. Even in its nonbinding form, this target could force manufacturers to make big adjustments to their existing footprints.
GTM 23rd Oct 2019 read more »
Erecting wind turbines on the world’s best offshore sites could provide more than enough clean energy to meet global electricity demand, according to a report. A detailed study of the world’s coastlines has found that offshore windfarms alone could provide more electricity than the world needs – even if they are only built in windy regions in shallow waters near the shore. Analysis by the International Energy Agency (IEA) revealed that if windfarms were built across all useable sites which are no further than 60km (37 miles) off the coast, and where coastal waters are no deeper than 60 metres, they could generate 36,000 terrawatt hours of renewable electricity a year. This clean energy boom would easily meeting the current global demand for electricity of 23,000 terrawatt hours. “Offshore wind currently provides just 0.3% of global power generation, but its potential is vast,” said the IEA’s executive director, Fatih Birol. The study predicts offshore wind will grow 15 fold to emerge as a $1tn (£780bn) industry in the next 20 years and will prove to be the next great energy revolution. The IEA said earlier this week that global supplies of renewable electricity were growing faster than expected and could expand by 50% in the next five years, powered by a resurgence in solar energy. Offshore wind power would drive the world’s growth in clean power due to plummeting costs and new technological breakthroughs which include turbines close to the height of the Eiffel Tower and floating installations that can harness wind speeds further from the coast.
Guardian 24th Oct 2019 read more »
Offshore wind power has the capacity to meet all of the world’s electricity demand, and is set to be a “game-changer” for energy systems.
FT 25th Oct 2019 read more »
An influx of new offshore wind farms around the world is set to draw $840 billion of investments over the next two decades, the International Energy Agency said. The Paris-based institution’s outlook for additions of 20 gigawatts of new offshore capacity a year still won’t be enough to hit global climate targets. Capacity additions would need to be near to 40 gigawatts a year in the next decade, adding over $1.2 trillion of investment, the IEA said in a report on Friday. The machines sited in water could provide more electricity than there is demand in a number of places including Europe, the U.S. and Japan, according to the agency’s report. The technology has boomed in recent years, particularly in the U.K., and is set to grow in new markets such as the U.S. and China.
Energy Voice 25th Oct 2019 read more »