Principle Power has joined leading wind industry companies and associations in calling on the world’s nations to address the climate emergency by urgently raising their ambitions for wind power.
As a member of the new Global Wind Energy Coalition for COP26 *, the company is pressing for wind to be placed at the heart of decarbonization plans at November’s UN Climate Change COP 26 conference. The coalition, led by the Global Wind Energy Council, launched its campaign today – Global Wind Day – with a single question for governments, companies, and the general public: Wind. Are You In?
Commenting on the central role offshore wind can play in driving the transition to a sustainable economy, Aaron Smith, Chief Commercial Officer for Principle Power, said: “Advancements in technology have created the potential to generate clean green energy for communities around the world."
Smith highlighted that 80% of the world’s offshore wind resources in deep water areas and said: “Floating wind can play a vital role in combating climate change and meeting significant energy needs. There is an unparalleled opportunity for governments to work with industry to advance deployment of offshore wind, which the IEA estimates could provide more than 18x current global electricity demand."
The campaign is stresses that the world is in a "make or break" decade for climate action. It is against this backdrop that the wind sector is intensifying its call for urgent climate action leading up to COP26 in November. Holding the most decarbonisation potential of any renewable energy source, wind power is an indispensable part of the solution to climate change while generating significant socioeconomic benefits.
Of concern is that the world is not installing wind power at the pace needed to achieve net zero, and much more needs to be done to unleash its potential. According to recently released roadmap reports on reaching Net Zero by the International Energy Agency (IEA) and the International Renewable Energy Agency (IRENA), the world needs to be installing wind power at around 3-4 times the level of 2020, which saw a record 93 GW installed.
Offshore wind can meet the world’s entire electricity demand 18 times over. There is more than 71,000 GW of technical potential for fixed and floating offshore wind globally. According to the International Renewable Energy Agency (IRENA) we need to grow offshore wind from 35GW of global installations today to at least 2 000 GW by 2050 to tap into the full potential of offshore wind and support global net zero goals.
Urging governments to adopt policies for offshore wind, Aaron Smith said: “Our mission is to globalize floating offshore wind, which we believe will play a vital role in the global energy transition. it is clear, however, that the technology can only reach its full potential with commitment from governments to create enabling conditions for the sector.”
* The Global Wind Energy Coalition for COP26 is an initiative led by GWEC involving 24 industry players and national and regional groups. Visit https://windareyouin.com to learn more about its Wind: Are You In? campaign.