KEY POINTS

  • The move is expected to create thousands of green jobs
  • Investments of over $35B were seen in offshore wind in the first half of 2020 
  • U.K. leads Germany, China, and Denmark in offshore wind power

British Prime Minister Boris Johnson pledged Tuesday to tap United Kingdom’s offshore wind energy to power every home in the country by 2030, to be a part of the world’s shift away from fossil fuels.

“As Saudi Arabia is to oil, the U.K. is to wind—a place of almost limitless resource, but in case of wind without the carbon emissions and without the damage to the environment,” Johnson said in a statement.

Johnson’s government launched a new target to generate 40 Gigawatt of energy by 2030. This is 15 times more than what offshore wind currently delivers across the world and four times more than U.K.’s own offshore wind capacity, according to The Guardian.

Offshore wind energy, even though expensive, is a useful renewable resource, especially in coastal areas. It does not consume water and does not emit any environmental pollutants or greenhouse gases. The U.K. is the leader in the use of offshore wind, with almost 10 gigawatts of installed turbines, way ahead of Germany, China, and Denmark, as per Bloomberg data.

A total of $207 million will be set aside to upgrade present infrastructure in the U.K. for the same, even though research by an Oxford-based Aurora Energy Research, according to The Guardian, said expenditure required is close to 50 billion pounds, or $64.4 billion. It also suggested that a wind turbine would have to be installed every weekday for the whole of the next decade to deliver on this promise.

Johnson’s ambitious plan is central to the U.K.’s efforts to “build back greener” from the coronavirus pandemic the world is

He started as a cook in the Michelin-starred Antonio Restaurant, and then quickly rose through the ranks to become head chef in just three years. “The opportunities are definitely better in Macau as many hotels, casinos and resorts have opened here,” said the 31-year-old.

Last year, he was the given the task of opening Paulaner Brahaus, a franchised German restaurant in the former Portuguese colony. Tavares was on track to open in late January when the Covid-19 outbreak in China brought tourism to a standstill, disrupting plans and pushing back the opening of the 150-seat outlet by nearly a year to December.

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Tavares’ predicament and those linked to the city’s tourism industry show that Macau’s reliance on gaming, tourism and affiliated services is hurting its economy as it accounted for 70 per cent of its revenues in the first eight months of this year.

Macau needs to move quickly to diversify its economy to provide new job opportunities and income sources for its growing population, especially in light of the havoc wrecked to its mainstay tourism industry by the coronavirus pandemic, say analysts and veteran businessmen.

Just before the Covid-19 pandemic derailed the city’s economy, Beijing announced a raft of policies in December last year aimed at diversifying Macau’s economy and forging closer integration with the Greater Bay Area by building its financial services industry, while maintaining its position as a leading gaming and tourism centre.

President Xi Jinping, during his three-day visit to Macau in December last year to mark the 20th anniversary of its return from Portuguese to Chinese rule, backed the city to develop into a service platform for commercial and trade cooperation between China and Portuguese-speaking countries. Xi