Countries across the world are refocusing their energy strategies to align with the net zero agenda, with offshore wind playing a major role in achieving targets. However, amidst the momentum, rising costs and uncertainties around project viability are casting doubts around the future of offshore wind.
Here, EEEGR’s General Manager, Rob Bush, discusses recent offshore wind developments sbobet mobile app and what industry and its supporters need to do to ensure projects are kept on track for a sustainable future:
“In recent months we have seen offshore wind developers voicing concerns and making major project decisions due to the financial viability of building offshore wind farms. And this extends beyond the UK, with the US reporting that developers are potentially cancelling projects because of escalating costs and heightened uncertainties.
In his August report, the Electricity Networks Commissioner, Nick Winser, gave 17 recommendations to government, including speeding up the outdated planning and consent process, a practice which can currently take up to ten years. The present regulations are out of step with the energy sector as it looks sbobet sports now, and the long-protracted process creates too many inefficiencies. The shorter the project times are the more certainty there is as there isn’t such a big window for economic change.
This was highlighted by Vattenfall’s announcement on their decision to pause the development of the Norfolk Boreas project, which came after spiralling costs meant the project was no longer financially viable with offshore wind industry prices rising by 40%.
So as an industry, what can we do?
In July, MP Peter Aldous led a parliamentary debate focussed on renewable energy in the East of England where he called upon government to set out a strategic approach to net zero transition, with the necessary infrastructure and resources so that sbobet sports our region, the East of England, can realise the full potential of its clean energy sector, a sector which it is estimated could power the equivalent of 90% of homes by 2035*.
However, in order to reach this potential, we need a strong pipeline of renewable energy projects which will not only help us meet net zero targets, but will have various other cumulative benefits locally, nationally and globally. For example, our supply chain can only grow if there are projects to feed it, the moment it starts to become affected it will stagnate and have a knock-on effect for investment in skills, local economic growth and raising aspirations.
We need to build on the momentum of Peter’s debate and lobby government to take notice of the issues sbobet review falling upon these projects. We also need to continue to take action as a region. If we as a region can answer questions such as ‘what do we need to do with the grid to speed up connections?’. ‘What do we do about skills?’. ‘How do we get the right people coming through?’, then we could be a model for the rest of the UK, and we’re already ahead of the curve.
With the supply chain across the region engaged with EEEGR’s energy sector councils, including offshore wind, hydrogen and net zero, we gather invaluable information from them on the issues they are facing and the actions they are taking to address them. Information which EEEGR feed into the New Anglia Local Enterprise Partnership, Local Authorities, who in turn share with sbobet review central government, ensuring that our collective voice is heard at the highest levels.
It’s been well voiced that the East of England is unique in terms of the multiple forms of energy generation we provide; oil & gas, offshore wind, solar, nuclear and hydrogen for example and there is no doubt that we can’t be reliant on just one form of energy production. However, offshore wind is the most cost-effective form of generation, and, if the government want us to hit net zero targets, it’s vital that pipeline projects go ahead without the long consenting delays.
More than ever we need to engage with central government to secure the future of renewable energy projects. We need government support to ensure the projects that developers sbobet mobile app and operators are planning come to fruition as the benefits of investment in the economy and jobs in offshore wind, grid and nuclear are the things that will have a cumulative benefit to our region, they are the things that will make people want to stay and that will drive greater investment going forward.”
*source: Opergy Group