{"id":5127,"date":"2023-12-19T13:58:56","date_gmt":"2023-12-19T13:58:56","guid":{"rendered":"https:\/\/eeegr.com\/?p=5127"},"modified":"2024-07-08T16:24:13","modified_gmt":"2024-07-08T15:24:13","slug":"its-time-to-engage-and-build-momentum","status":"publish","type":"post","link":"https:\/\/eeegr.com\/2023\/12\/19\/its-time-to-engage-and-build-momentum\/","title":{"rendered":"It’s Time to Engage and Build Momentum"},"content":{"rendered":"\n
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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.<\/p>\n\n\n\n
Here, EEEGR’s General Manager, Rob Bush, discusses recent offshore wind developments and what industry and its supporters need to do to ensure projects are kept on track for a sustainable future:<\/p>\n\n\n\n
\u201cIn 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.<\/p>\n\n\n\n
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the Electricity Networks Commissioner, Nick Winser, gave 17 recommendations to government, including speeding up the outdated planning and consent process, a practice which can currently take up to ten years.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 now, and the long-protracted process creates too many inefficiencies. The shorter the project times are the more certainty there is as there isn\u2019t such a big window for economic change.<\/p>\n\n\n\n
This was highlighted by Vattenfall\u2019s 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%.<\/p>\n\n\n\n
So as an industry, what can we do?<\/p>\n\n\n\n