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Investment

Study: Port investments could unleash a floating wind boom

The Elite Times TeamBy The Elite Times TeamMarch 18, 2024No Comments6 Mins Read
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The UK needs to accelerate its port infrastructure plans to support a wave of commercial-scale floating offshore wind projects, or deliver 50GW of offshore wind capacity by 2030 and net by 2035. They run the risk of not achieving their goal of achieving a zero-power system.

That’s the main conclusion of a new report released last week by the Offshore Renewable Energy (ORE) Catapult’s Floating Offshore Wind Research Center.

The report says the development of floating offshore wind projects could prove important to meeting climate change targets, as well as the government’s goals of enhancing energy security and reducing electricity bills. It is emphasized that it is expensive. The UK’s target of 50GW of offshore wind capacity by 2030 includes up to 5GW of floating offshore wind capacity, and in the long term many experts believe that floating turbine technology will We believe this will be the key to controlling costs and further increasing capacity by 2050.

However, the report warns that the current lack of port capacity risks derailing progress. The government provides funding to support the development of new offshore wind infrastructure at many ports, but the report shows that the UK’s offshore wind pipeline (with multiple different projects competing for government support) They argue that uncertainty surrounding the development of the U.S. government (comprised of developers) is hampering expansion efforts. Port capacity.

Given the increasing scale of offshore wind turbines, particularly floating turbines, ORE Catapult believes that offshore wind development is likely to be the biggest driver of major port capacity expansion in the UK in the coming years. We estimate that there is.

The report says the UK “can no longer rely” on European ports to provide timely service to UK projects, given increased competition from other offshore wind projects across the continent. I’m warning you. The report says that if the UK fails to address the impending port capacity shortage, new projects will be delayed and continental European ports and businesses stand to capture the market created by floating power, reducing the benefits of the green energy transition. It added that this could lead to both the risk of losing some of the assets. Offshore wind power project.

The report shows that with offshore wind capacity reaching 50GW by 2030, the sector could support 100,000 jobs across the UK by 2030, while at the same time creating around 920 jobs through supply chain opportunities by 2040. It is estimated that this will stimulate gross value added (GVA) of £1 billion.

When it comes to floating offshore wind in particular, the UK is in an “enviable position” to lead the world in the development of this emerging technology, with a pipeline of around 27GW of floating wind projects already in place, according to ORE Catapult. That’s what it means.

However, the report stresses that realizing these ambitions requires “urgent investment” in port infrastructure and domestic supply chains to ensure projects are rolled out in line with the government’s goals.

The report asks policymakers to identify existing barriers to investment in UK ports infrastructure and manufacturing facilities related to floating wind, and to assess the impact on the international competitiveness of UK ports and offshore wind farms. They are asked to evaluate the main factors that contribute to their

The report calls for “urgent policy action” to enable the port expansion needed to support the introduction of offshore wind, which would enable energy developers to commit to UK ports. However, it warned that there were “real risks” that the UK was missing. We won’t know about these benefits “unless something changes”.

Andrew Stormans-Darling, program manager for ORE Catapult’s Floating Offshore Wind Center of Excellence, said the report “brings together key stakeholders to ensure that the floating wind and ports sectors work together. “This is really important work as we look at some of the ways we can find a path forward.” Securing critical infrastructure for future floating offshore wind goals. ”

“We hope that the path we have identified will help policymakers move forward and create the type of investment environment we need.” “Given the time involved and the scale of the business, we know we need to act quickly to realize the full economic benefits of this exciting new technology.”

Richard Ballantyne, chief executive of the British Ports Association, welcomed the report’s recommendations. He said: “Floating offshore wind is a once-in-a-generation opportunity and the UK ports industry wants to play a vital role in making it a reality.” “However, there are many market and policy challenges that must be overcome before ports can invest in the infrastructure and equipment they need.

“This report is an important first step in considering these challenges. It explores how the sector can help realize the UK’s offshore wind ambitions, and how energy developers can It will encourage discussions with policy makers about how ports and coastal areas can be anchored for activity and employment.” ”

Steve Beale, chief executive of Freeport East, the UK’s largest container port in Suffolk, said Freeport East was helping to address some of the challenges facing the nascent floating wind turbine industry. He suggested that it could play an important role.

“Freeport East Harwich offers a unique combination of advantages including local experience, land availability, planning arrangements, water depth and proximity to the North Sea, and offers a unique combination of advantages including local experience, land availability, planning arrangements, water depth and proximity to the North Sea. It has become an ideal location for project manufacturing and installation,” he said. “With over 5GW of upcoming projects planned off the coast of East Anglia alone and the southern North Sea seen as a clean energy hub for both the UK and Europe, the opportunity for Harwich and the wider region is significant. .”

In related news, the Welsh Climate Change Minister confirmed last week that the Welsh Government had committed to investing £1m to explore the potential of floating offshore wind.

The grant is matched by matching funding from the Port of Milford Haven for ground investigation work as part of preparatory work to enable the deployment of a future floating offshore wind project from the Port of Pembroke in Wales. Masu.

The funding builds on a similar match-funded grant announced in January 2023 to Associated British Ports for early stage work at Talbot Port.

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