January 15 (Renewables Now) - Denmark’s Ørsted SA (CPH:ORSTED) and Norway’s Equinor ASA (NYSE:EQNR) will lead a multinational team of companies and institutions who have grouped around the newly-formed Ocean Renewable Energy Action Coalition to push for global offshore wind growth.
The Action Coalition has brought together CWind Ltd and its parent company Global Marine Group, Japanese joint venture JERA Co, wind turbine makers MHI Vestas and Siemens Gamesa Renewable Energy SA (BME:SGRE), Royal Dutch Shell plc (AMS:RDSA), transmission system operator TenneT BV, Ireland’s Mainstream Renewable Power and the UK’s Crown Estate.
Announcing the initiative’s launch this week, Equinor said the group was created in response to the September 2019 Call for Ocean-Based Climate Action made by the High-Level Panel for a Sustainable Ocean Economy.
The High-Level Panel has concluded in its report that ocean-based renewable energy technologies have the potential to reduce greenhouse gas emissions by close to 10% each year by 2050, an imperative to keeping global temperatures under 1.5 degrees Celsius above pre-industrial levels.
The Action Coalition will bet on offshore wind power to drive global decarbonisation efforts, arguing that this technology is best suited for the task. The group will prepare its vision for the 2050 horizon and put a focus on actions that the industry, financiers and governments can take to boost offshore wind.
The team’s initial outputs will be presented at the UN Ocean Conference in Lisbon in June 2020.