The heads of many of the world’s largest wind energy companies have told global leaders that if they do not urgently step up turbine installations, their efforts to achieve global climate goals are “doomed to fail.”
CEO of Vestas, Orsted, Siemens Gamesa, SSE and RWE Renewables Write to the G20 heads of state It warned on Monday that, based on current growth forecasts, by 2050, they would “be less than” the 43% of the wind energy capacity required for carbon neutrality.
Organizations such as the International Energy Agency and the International Renewable Energy Agency predict that wind energy will become the mainstay of global power generation by 2050.
Despite the global pandemic, mainly in China and the United States, a record 93 GW was installed in 2020, but the annual deployment volume must be quadrupled in the next ten years before large economies can embark on achieving climate goals path of.
However, the CEOs warned in a letter coordinated by the Global Wind Energy Council that “if the G20 countries do not have decisive and urgent policy changes, this will not be possible.”
They urge the government to set more ambitious national wind energy targets and address issues that hinder project delivery, such as “inappropriate” licensing and planning systems and insufficient investment in the grid.
After hitting a record high in January, clean energy stocks experienced a sharp sell-off this year because investors were concerned about the industry’s growth rate.
Shares Siemens GamesaThe world’s largest manufacturer of offshore wind turbines has fallen by more than one-fifth in the past five days after it went public. Last week’s latest profit warning, Which listed several factors, including the sharp rise in raw material prices. So far this year, its share price has fallen by more than one-third; during the same period, competitors Orsted and Vestas have fallen by 30% and 22%, respectively.
GWEC CEO Ben Backwell said that the problems vary from market to market, but even in some ambitious countries, such as the United Kingdom, Boris Johnson plans to quadruple installed offshore wind power capacity Reach 40GW by 2030 -The project may take “a long, long time” to be realized. He pointed out that the seabed rights for offshore wind power projects currently under construction were granted more than ten years ago.
Backwell said that, especially in emerging markets, there are not enough “push” factors to remove fossil fuels from the energy system. Increasing renewable energy is usually only to increase capacity, not to replace existing polluting power plants, and during economic downturns, renewable energy auctions are often cancelled.
The letter is scheduled to be issued before the G20 Ministerial Conference on Environment, Climate and Energy to be held in Naples this weekend.
After the G7 summit in Cornwall in June, the climate group was disappointed Specific plans for the new climate financing.
“Actions to combat climate change are lagging and time is running out,” the chief executives including Miguel Stilwell d’Andrade of Portugal’s EDP and Mary Quaney of Mainstream Renewable Power wrote in the letter. “The choices made this year and this decade are critical to protecting our planet and avoiding climate disasters.”
Their urgency echoes the calls of other groups—including the International Energy Agency, which warned in May that energy groups must Stop all new oil and gas exploration Starting this year, at the same time, it called for a “historical surge” in investment, mainly in clean energy technologies.