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

PARIS (Reuters) – Total

has taken a 20% equity stake in the Eolmed floating wind farm pilot project in France, which the French group said on Wednesday formed part of its broader plans to build up its presence in the wind power sector.

The 30 megawatts (MW) project is located in the Mediterranean, off the coast of Gruissan in France. The power company Qair is the majority shareholder in the project.

“This announcement once again demonstrates the group’s ambition and willingness to innovate in the field of renewable energies,” said Julien Pouget, director of renewables at Total.

Total did not disclose any financial details of the investment.

Last month, Total said it would hike its annual investments in renewable energy and electricity by 50% as it cuts its reliance on oil, emulating European rivals in a bid to become a major low-carbon power producer.

Total aims to have 35 gigawatts (GW) in gross renewable energy production capacity by 2025, up from a previous target of 25GW. The company has said that 70% of this target has already been accounted for, including projects still under construction.

(Reporting by Sudip Kar-Gupta, editing by Louise Heavens)

Copyright 2020 Thomson Reuters.

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