Page 4 - AfrElec Week 48 2020

AfrElec COMMENTARY AfrElec

Offshore industry sets 1,400GW

capacity target for 2050

Collaboration between industry, governments and key stakeholders is needed to scale up
investment and technologies and to ensure sustainable growth, writes Richard Lockhart

GLOBAL GLOBAL offshore wind capacity could reach pandemic.
1,400GW by 2050 if governments are able to Offshore wind is also an important indus-
WHAT: work with industry to provide supportive poli- try for revitalising coastal communities and
14,000GW of offshore cies and an attractive investment environment. supporting the development of critical infra-
wind is achievable by The Ocean Renewable Energy Action Coali- structure. The report estimates that a 500MW
2050 tion (OREAC), which unites many of the world’s offshore wind project with an average 25-year
leading wind developers, investors and technol- lifespan creates about 10,000 man-years of full-
WHY: ogy suppliers, said in a report out this week, time employment.
More government support entitled The Power of Our Ocean, that five fun-
is needed to maintain the damental factors need to be in place if offshore Paris targets
pace of investment and wind can maximise the socioeconomic, environ- Ørsted and Equinor, two leading offshore wind
innovation mental and health benefits potential. developers, are part of the initiative and are keen
OREAC also called for collaboration between to stress that offshore wind forms a crucial part
WHAT NEXT: industry, government and key stakeholders if of meeting the Paris Climate Agreement goals,
Current levels of annual offshore wind and other forms of ocean-based especially for limiting global warming to 1.5
additions need to be renewable energy are to be deployed in a sustain- degrees.
maintained to meet the able manner. Other major names supporting the imitative
2050 target, while new The report was drawn up in response to the include: CWind; Global Marine Group; JERA;
markets in Africa, Asia High Level Panel for a Sustainable Ocean Econo- MHI Vestas; MingYang Smart Energy; Main-
and Latin America need my’s (Ocean Panel) 2019 report, called Transfor- stream Renewable Power; Royal Dutch Shell;
to be developed mations for a Sustainable Ocean Economy. This Siemens Gamesa; TenneT; and GE Renewable
was a far-reaching political document which Energy.
underscores the importance of offshore energy Benj Sykes, head of market development,
in developing a sustainable ocean economy. consenting and external affairs at Ørsted, said:
“If we are to have any chance of meeting Paris
Five building blocks Climate Agreement targets for global warming,
The OREAC report set out in its report that the it is crucial that governments significantly scale
sustainable scale-up of offshore wind needs: sta- up their renewable energy ambitions. Offshore
ble policies; pipeline visibility; resourced insti- wind is one of the most effective large-scale
tutions; a supportive and engaged public and a technologies available that can reduce global
competitive environment. carbon emissions and displace fossil fuels. And
Ocean-based solutions can deliver 21% of offshore wind can only reach its full potential
carbon emissions reductions needed by 2050 to with the committed and wide-ranging support
keep global warming within 1.5°C above pre-in- of governments. This new report highlights the
dustrial levels, according to the Ocean Panel. essential building blocks needed to develop gov-
Ocean-based renewable energy such as ernment and industry partnerships and acceler-
offshore wind offers the most effective decar- ate sustainable deployment of ocean renewable
bonisation route and can provide half of these energy around the world.”
reductions; other forms of ocean energy can also
play a part if brought to commercialisation. Maintaining additions
In addition to reducing carbon emissions, The target of 1,400GW compares with just
offshore wind reduces air pollution and water 29GW of offshore capacity today, although the
consumption for energy use, providing com- offshore sector has been identified by the Global
pound value for investment in welfare and eco- Wind Energy Council (GWEC) as a crucial
nomic gains. growth sector in the wider renewables industry.
The report finds that if the 1,400GW vision The GWEC said in August that global off-
is achieved, this could save $1.88 trillion in pol- shore capacity could reach 234GW by 2030, with
lution-related public health costs – an area cur- 61.4GW being added in 2020 alone.
rently strained by the coronavirus (COVID-19) Indeed, to get from 234GW in 2030 to

P4 www. NEWSBASE .com Week 48 03•December•2020