Offshore Wind – WIND WORKS

In sum, around three-quarters of the technical potential for offshore wind involves floating offshore wind farms. Indeed, all offshore wind, both floating and fixed-bottom, could provide more than 2100 TWh of UK electricity (see HERE). This is much more than the UK will ever need to meet net-zero greenhouse gas policy objectives, or indeed any other policy objectives.

Offshore wind is currently broken. There is a despondent mood in the sector, and it looks like everybody is trying to get rid of their assets or reduce their exposure to the sector (see BP, Equinor, Shell, Vattenfall, Total, an even Ørsted, Corio or Bluefloat). And yet – they brought this on themselves, through a combination of hubris, ignorance, and reliance on lobbying rather than good business acumen.

The supervisor of an onshore wind farm construction site in Changhua County has been released on bail of NT$200,000 (US$6,260) following the death of a worker on Monday due to a CO2 leak incident, according to the Changhua District Prosecutors Office. The incident occurred on Aug. 20 at the Hai Long construction site for an offshore wind farm, resulting in one death, with two workers still in critical condition, and 14 others injured.

Fox anchor Martha MacCallum and anti-renewable energy activist Michael Shellenberger defended widely debunked statements former President Donald Trump made about whales and offshore wind farms at a recent campaign rally, instead crediting him for “shining a light” on the issue.

Don’t do tenders based on price if you don’t know when the project can get built (ie if projects are still subject to permitting processes or legal recourse or other uncontrollable delays). That’s a sure way to get unrealistic bids that will then be subject to lobbying and renegotiation.

There were no successful bids from offshore wind projects in the latest CfD auction in the UK, and that is already described variously as a setback for net zero plans in the UK, and yet another nail in the coffin of the industry, already struggling from headwinds in the US and UK, where various projects are being cancelled or postponed, and PPAs abandoned or renegotiated.

But I actually take it as a good thing, in that (i) it reflects cost discipline, and (ii) it proves that the tariff design is smart in that it avoids crazy bids like we have seen in other markets.

Shares in the world’s largest offshore wind company have tumbled by nearly a quarter after it said it may have to write down the value of its US portfolio by nearly £2bn.

Ørsted said it had been hit by a flurry of setbacks in its American business, triggering a rapid sell-off in its shares, listed in Copenhagen.

Sunak’s next distraction will be ‘pylon wars’. Thousands of miles on high voltage cabling are needed to ship electricity from oﬀ-shore wind farms to towns and cities. This requires hundreds of thousands of new pylons. Everything that was oﬀ-shore and out-of-sight suddenly becomes an environmental battleground. Communities are already mobilising to challenge the process.

Maine will procure at least 3,000 megawatts of electricity from offshore wind turbines by 2040 under a bill signed Thursday by Democratic Gov. Janet Mills, enough to power about half of the state’s electricity load.