COP29BAKU---Offshore Windstorm at Conference--WLP/AI RESEARCH CAPSULE

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WHITE LIGHTNING AI RESEARCH//IMMEDREL//11/13/24/0700PST

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#COP29Azerbaijan Offshore Wind 11/13/24/0615PST: UK takes point at the conference with ambitious new plan for wind energy, investing billions in trade for thousands of megawatts. Rf> #COP29Baku:

cop29 offshore wind

(Begin Perplexity-AI)

COP29, the 29th United Nations Climate Change Conference, is currently taking place in Baku, Azerbaijan. Offshore wind energy has emerged as a significant topic of discussion and investment at the conference, with several countries making announcements and commitments related to this renewable energy source.

Key Developments

UK's Clean Industry BonusThe UK Prime Minister has announced a new initiative called the Clean Industry Bonus at COP29

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. This program aims to:

• Incentivize offshore wind developers to invest in the UK's industrial heartlands, coastal areas, and oil and gas communities
• Boost green jobs and support sustainable factories
• Provide a provisional £27 million per Gigawatt of offshore wind projects
• Potentially allocate up to £200 million if 7 to 8GW of offshore wind projects apply

Major Offshore Wind Deals

1. ScottishPower has awarded a £1 billion turbine contract for its East Anglia TWO offshore windfarm to Siemens Gamesa
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   . This deal includes:
   • Blade production at Siemens Gamesa's Hull factory
   • Employment of over 1,300 people in Humberside
   • Clean energy production equivalent to powering almost 1 million homes
2. Iberdrola and Siemens Energy have confirmed a $1.3 billion turbine order for a huge North Sea wind farm
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Azerbaijan's Renewable Energy Potential

As the host country of COP29, Azerbaijan has highlighted its own renewable energy ambitions

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:

• Plans to increase renewable power capacity to 30% by 2030
• Commitment to reduce greenhouse gas emissions by 40% by 2050
• Significant wind energy potential:
  • 3 GW of economic potential for onshore wind
  • 157 GW of technical capacity for offshore wind

  Global Wind Energy Goals

  The Global Wind Energy Council (GWEC) has emphasized the importance of scaling up wind energy installations to meet climate targets

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  :

  • Need to triple global renewable energy capacity by 2030
  • Wind energy installations must increase 3-4 times the current rate by the end of this decade
  • By 2030, wind power should provide one-fifth of the world's electricity
  • By 2050, wind should generate one-third of global electricity

  However, the GWEC also notes that wind energy growth has slowed and is currently not on track to meet these ambitious targets

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  .COP29 represents a crucial opportunity for governments, industry leaders, and stakeholders to align policies, financial support, and technological innovation to accelerate the growth of offshore wind and other renewable energy sources in the fight against climate change.

How will the UK's £1bn offshore wind deal impact local communities

The UK's £1bn offshore wind deal, particularly the East Anglia TWO project, is expected to have significant positive impacts on local communities:

Economic Benefits

1. Job Creation:
   • The deal will support thousands of jobs across the supply chain
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   • Siemens Gamesa will employ over 1,300 people at its blade factory in Hull, following extensive recruitment
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2. Local Investment:
   • The project will inject growth into industrial heartlands, particularly in the Humberside area
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   • It's part of a larger £24bn UK green infrastructure investment pledge by Iberdrola, ScottishPower's parent company
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Community Support

1. Community Benefit Funds:
   • Offshore wind projects often create community benefit funds to support local groups and organizations
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   • Three such funds have already awarded over £8m to 550 local social and environmental projects along the UK's east and west coasts
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2. Local Engagement:
   • Projects like this typically involve considerable consultation work with local communities and stakeholders
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   • Roles such as Local Liaison Officers and Skills and Education Champions are often created to advise on jobs and training opportunities
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Environmental Impact

1. Clean Energy Production:
   • The East Anglia TWO wind farm alone will produce enough clean energy to power the equivalent of almost 1 million homes
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2. Potential Fish Stock Boost:
   • Offshore wind structures can act as artificial reefs, providing habitats for various species and potentially helping to replenish fish stocks
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Government Support

1. Clean Industry Bonus:
   • The UK government has announced a Clean Industry Bonus scheme, offering £27 million per Gigawatt of offshore wind projects
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   • This could reach up to £200m for a 7-8 gigawatt scheme, incentivizing further investment in coastal regions and oil and gas communities
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2. Regional Focus:
   • The scheme is expected to benefit communities in Scotland, Wales, the North-east and North-west, targeting local suppliers to deliver wind blades, cables, and ports
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While these benefits are significant, it's important to note that large projects may also bring some indirect disturbance effects and changes in lifestyle that are less easy to address directly

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. However, the overall impact is expected to be positive, bringing economic growth, job opportunities, and clean energy to local communities.  (End Perplexity-AI)

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WHITE LIGHTNING AI RESEARCH//IMMEDREL//11/13/24/0700PST

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