Wind Power

15 May 2019

EGEB: Offshore Wind's $70 Billion Opportunity, Sri Lanka Floating Solar And More

15 May 2019   

As the Parkland community rallied together, people around the country tweeted at Loesch about her comments centered around the survivors who started a nationwide movement advocating for gun control. Fred Guttenberg, who became a vocal advocate for gun safety after his daughter Jaime died in the mass shooting, called Loesch “pathetic” and said she should be fired.

In today’s EGEB:

The offshore wind industry may be looking at a $70 billion opportunity.

Sri Lanka approves 100 MW in floating solar projects.

BYD and Pireos Capital announce the deployment of 100MWh ESS in Mexico.

Toronto City Council could sue Big Oil for climate change costs.

Electrek Green Energy Brief: A daily technical, financial, and political review/analysis of important green energy news.

With U.S. offshore wind picking up momentum, new analysis sees the ability for nearly $70 billion in CAPEX revenue opportunity in the industry.

A white paper from the Special Initiative on Offshore Wind with analysis by the Renewables Consulting Group reaches those conclusions. The paper’s release notes the industry may generate nearly 20 gigawatts of “clean, cost-competitive power” by 2030. It breaks the costs down by component:

More than 1,700 offshore wind turbines and towers — $29.6 billion

More than 1,750 offshore wind turbine and substation foundations — $16.2 billion

More than 5,000 miles of power export, upland and array cables — $10.3 billion

More than 60 onshore and offshore substations — $6.8 billion

A wide range of marine support, insurance and project management activities — $5.3 billion

The paper also focuses on seven East Coast states that look to make up the bulk of this capacity, forecasting power procurements for:

New York, 7.7 GW

New Jersey, 3.5 GW

Massachusetts, 3.2 GW

Connecticut, 2 GW

Maryland, 1.2 GW

Rhode Island, 1 GW

Virginia, 12 MW

The analysis prompted plenty of excitement in quotes, including this from American Wind Energy Association CEO Tom Kiernan:

“America’s land-based wind industry already supports over 105,000 U.S. jobs and more than 500 factories. This paper lays out the $70 billion opportunity to further grow American jobs and manufacturing as development heats up to harness our nation’s world-class offshore wind potential.”

Sri Lanka Floats

The Sri Lankan government approved a 100 MW floating solar power project to be installed in the Maduru Oya Reservoir, according to Lanka Development News.

The floating solar farm will “likely” be coupled with battery storage capacity, and it will be a joint venture of three Sri Lankan entities plus the Canadian Solar Institute. Canada’s government actually proposed the project, which should cover 4 percent of the reservoir’s surface. The Sri Lankan government is now taking proposals to build the farm.

Again, when it comes to floating solar power projects, Asia continues to lead. Sri Lanka aims to install 200 MW of solar projects in total by 2020, and 1 GW by 2025.

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