5.6 C
Tuesday, December 6, 2022

The floating offshore wind farm in Norway is a lesson in hypocrisy

Must read

Congress could soon end the military’s vaccine mandate under pressure from Republicans

WASHINGTON — Congress could soon end the military's Covid-19 vaccine mandate.Democratic leaders in both the House and Senate are considering allowing a Republican bill...

Investors sound the alarm about potential private equity technology deals • londonbusinessblog.com

Business expense management The investors of software company Coupa are sounding the alarm about a possible sale to private equity, fearing that such a...

Prediction of the top startup themes of 2023 • londonbusinessblog.com

A good way to be wrong is to predict the future. A good way to be incredibly and embarrassingly wrong is to predict the...

“How can we grow more and more unicorns?” 4 key startup trends in talent, capital and scale for 2023

At Startup Daily's recent 2023 Tech Playbook From Idea to Unicorn event, our expert panel discussed the top startup trends that tech companies should...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Across Europe, companies are trying to reduce energy costs and their carbon footprint. And it’s more than just talk – the weekend saw the world’s largest floating (offshore) wind farm, Hywind Tampen, start energy production.

The floating wind farm was developed by Equinor and is located approximately 140 kilometers off the coast of Norway. It is the first in the world to power offshore oil and gas platforms.

The wind farm is estimated to provide about 35% of the annual electricity demand of five of the installations of Gullfaks and Snorre’s partners. Naturally, this percentage increases when the wind speed is higher. It will also reduce CO2 emissions from the fields by about 200,000 tons per year.

Join TNW in Valencia!

The heart of technology comes to the heart of the Mediterranean

In addition, the site acts as a testing ground for further floating wind development, exploring new and larger turbines, installation methods, simplified berths, concrete substructures and integration between gas and wind power generation systems.

Seven of the wind farm’s 11 turbines will come online in 2022, with four more installed in 2023. This all seems like a good thing, but…

…Norway will not give up that sweet gas money

Norway is Western Europe’s largest oil and gas producer and has no plans to dismantle its oil industry. So this is not a game-changer for national renewables.

The country, however shared at last week’s COP27 environment summit in Egypt that it raised its target of reducing climate-related emissions by at least 55% by 2030.