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World's Largest Offshore Wind Developer to Invest $30 Billion in Green Energy
On Wednesday, Danish energy company Orsted announced a major investment program as it seeks to become one of the "renewable majors" leading a global shift away from planet-warming fuels, Reuters reported.
Offshore wind projects will receive 75-85 percent of the total investment, while onshore investments will receive the remaining 15-20 percent. Bioenergy and customer solutions will constitute 0 to 5 percent of the spending.
Overall, Orsted (formerly Dong Energy) seeks to bump its share of green energy production to 99 percent by 2025, up from 64 percent in 2017.
"Today, our portfolio consists of 11.9 GW (gigawatts) of offshore and onshore wind farms and biomass-fired combined heat and power plants that are either in production, under construction or have been given final investment decision," Henrik Poulsen, Orsted's CEO and president, said in a press release. "Towards 2030, it's our strategic ambition to reach an installed capacity of more than 30GW, provided that the build-out creates value for our shareholders," he added. "As an important step, we're raising our 2025 ambition for offshore wind from 11-12 GW to 15 GW."
Poulsen said the global market for renewable energy is expected to more than triple towards 2030.
In September, Orsted officially opened the world's largest offshore wind farm in the Irish Sea. The 659-megawatt Walney Extension, located approximately 19 kilometers (12 miles) off the coast of Cumbria, England, consists of 87 turbines and is capable of generating enough renewable energy to power almost 600,000 UK homes.
Offshore wind technology is rapidly advancing, and the Walney Extension is expected to lose its "world's largest" title to Orsted's Hornsea Project One off the UK's Yorkshire coast. The under-construction wind farm is expected to be fully operational by 2020 and will have a capacity of 1,200 megawatts, or enough power for more than one million UK homes.
EcoWatch Daily Newsletter
By Dan Gray
- Research shows that 16 weeks of a vegan diet can boost the gut microbiome, helping with weight loss and overall health.
- A healthy microbiome is a diverse microbiome. A plant-based diet is the best way to achieve this.
- It isn't necessary to opt for a strictly vegan diet, but it's beneficial to limit meat intake.
New research shows that following a vegan diet for about 4 months can boost your gut microbiome. In turn, that can lead to improvements in body weight and blood sugar management.
By Jeff Turrentine
Nearly 20 years have passed since the journalist Malcolm Gladwell popularized the term tipping point, in his best-selling book of the same name. The phrase denotes the moment that a certain idea, behavior, or practice catches on exponentially and gains widespread currency throughout a culture. Having transcended its roots in sociological theory, the tipping point is now part of our everyday vernacular. We use it in scientific contexts to describe, for instance, the climatological point of no return that we'll hit if we allow average global temperatures to rise more than 2 degrees Celsius above preindustrial levels. But we also use it to describe everything from resistance movements to the disenchantment of hockey fans when their team is on a losing streak.
By Mark Mancini
On Aug. 18, Iceland held a funeral for the first glacier lost to climate change. The deceased party was Okjökull, a historic body of ice that covered 14.6 square miles (38 square kilometers) in the Icelandic Highlands at the turn of the 20th century. But its glory days are long gone. In 2014, having dwindled to less than 1/15 its former size, Okjökull lost its status as an official glacier.
By Alex Schwartz
Among the many vendors at the Logan Square Farmers Market on Aug. 18 sat three young people peddling neither organic vegetables, gourmet cheese nor handmade crafts. Instead, they offered liberation from capitalism.
I’m a Psychotherapist – Here’s What I’ve Learned From Listening to Children Talk About Climate Change
By Caroline Hickman
Eco-anxiety is likely to affect more and more people as the climate destabilizes. Already, studies have found that 45 percent of children suffer lasting depression after surviving extreme weather and natural disasters. Some of that emotional turmoil must stem from confusion — why aren't adults doing more to stop climate change?