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The US is projected to invest $65 billion in offshore wind projects by 2030, potentially supporting 56,000 domestic jobs. The American Clean Power Association (ACP)'s 2024 Offshore Wind Market Report highlights 12GW of projects with active agreements, including 4GW under construction. There are 56GW of capacity under development across 37 leases, aiming to power 22 million homes. Analysts predict 14GW of offshore wind will be deployed by 2030, 30GW by 2033, and 40GW by 2035. The report emphasizes the economic benefits, including job creation, pollution reduction, and energy security. The industry has committed $3 billion in supply chain investments in 2023, with total infrastructure investments exceeding $9 billion. Over 40 new vessels are being built to support the industry. State initiatives are crucial, with New Jersey leading in offshore wind capacity under contract (5252MW) and Virginia leading in capacity under construction (2587MW). Additional state procurements could add 8800MW-12,200MW in 2024, particularly off the Northeast coast. https://lnkd.in/eCYHZBRT #OffshoreWind #EnergyTransition #OdinGlobal

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ENGIE has started constructing a 200MW/800MWh battery energy storage system (BESS) in Vilvoorde, Belgium, making it one of Europe's largest BESS projects. Announced on July 5, the project will occupy a 3.5-hectare site and include 320 battery units. The BESS will be co-located with Engie's 870MW combined cycle gas turbine (CCGT) plant. The project, which has a 15-year contract with Belgium's transmission system operator Elia Group, will be commissioned in two phases: 100MW in September 2025 and another 100MW in January 2026. This is one of three large-scale projects for which Engie has construction permits, along with Kallo (100MW) and Drogenbos (80MW). Belgium is a favorable market for energy storage, offering numerous revenue opportunities in flexibility services, energy trading, and capacity markets. As of the end of 2023, Belgium had about 372MWh of grid-scale BESS online, with significant growth expected, including a 1.7GWh increase set for 2025. Engie's projects contribute to its 3.6GW BESS development pipeline, adding to its already-operational 1.3GW of assets. https://lnkd.in/etd5xfKH #EnergyStorage #Engie #OdinGlobal

The world will add 3.8 terawatts (TW) of new solar capacity and 1.6 TW of new wind capacity by 2033, driven by government decarbonisation goals, according to a Wood Mackenzie report. This will bring the global total installed solar and wind capacity to 8 TW by 2033, averaging an addition of 560 gigawatts (GW) annually from 2024 to 2033, up from 450 GW in 2023. Solar photovoltaic (PV) will dominate, contributing 59% of new capacity. China is expected to account for about half of the new solar installations, with significant contributions also from the US, where solar installations in Q1 2023 exceeded the total of 2019. Energy storage will play a critical role, with global cumulative storage capacity expected to reach 159 GW/358 GWh by the end of 2024, and an additional 926 GW/2.8 TWh by 2033, marking a 636% increase. Storage capacity growth in 2023 surged by 162%, with China leading in annual capacity additions. Europe’s distributed storage sector is projected to grow from 2026 due to lower system costs and regulatory changes. https://lnkd.in/dtWunjdf #EnergyTransition #RenewablePower #OdinGlobal

The United Kingdom has surpassed 16 GW of installed solar capacity, reaching 16.8 GW in May 2024, according to revised figures from the Department for Energy Security and Net Zero (ESNZ). However, the pace of new solar capacity addition has slowed in 2024 compared to the previous year. The first five months of 2024 saw 582 MW added, down from 640 MW during the same period in 2023. For the year to date, small-scale installations (below 10 kW) added 255 MW, large-scale installations (5 MW or greater) added 257 MW, and medium installations (10 kW to 50 kW) added 71 MW, with minimal additions from installations between 50 kW and 5 MW. Mark Sommerfeld from the Renewable Energy Association (REA) acknowledged the progress but emphasized the need for further acceleration to meet the UK's net zero targets, calling for governmental focus on grid connections and planning reforms to enhance solar deployment. https://lnkd.in/eWemuxmw #SolarEnergy #UnitedKingdom #OdinGlobal

The newly elected Labour government has lifted the de facto ban on onshore wind developments in England, effective July 8. This ban, implemented by the Conservative government in 2015, required onshore wind farms to meet stringent planning conditions, which included inclusion in local development plans and community approval making it difficult to advance onshore wind projects. Chancellor Rt Hon Rachel Reeves and Energy Security Secretary Ed Miliband highlighted that removing these barriers will enhance energy security, reduce costs, and combat climate change. The policy change aligns with Labour’s goal to double onshore wind capacity by 2030, signaling a strong commitment to renewable energy. The energy industry has welcomed the move, seeing it as a significant step towards boosting investments in renewable energy. Industry leaders like Zoisa North-Bond of Octopus Energy Generation and Dan McGrail of RenewableUK praised the decision, emphasizing public support and the benefits of low-cost, clean energy. https://lnkd.in/egQzCje8 #OnshoreWind #LabourGovernment #OdinGlobal

In the first half of 2024, wind farms provided 34% of Ireland’s electricity, with June's wind generation reaching 771 gigawatt-hours (GWh), the third highest for a June on record. Wind energy met 25% of the electricity demand in June, a 5% increase from June 2023, while solar and other renewables supplied an additional 8%. County Kerry led wind power production with 90 GWh, followed by Cork (82 GWh), Galway (67 GWh), Donegal (52 GWh), and Tipperary (47 GWh). Noel Cunniffe, CEO of Wind Energy Ireland (WEI), highlighted the environmental and economic benefits of wind energy, noting the reduction in carbon emissions and dependence on imported fossil fuels. However, he warned that many wind farms might shut down by 2030 without changes to the planning system. WEI urges the government to simplify planning extension processes and support repowering projects to maintain and enhance wind energy capacity. https://lnkd.in/e8pYJHWD #WindEnergy #Ireland #OdinGlobal