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illuminem summarizes for you the essential news of the day. Read the full piece on Financial Times or enjoy below:
🗞️ Driving the news: Dan Jackson, an ex-oil and gas engineer, is pioneering the use of floating turbines off the Scottish coast. His company, Cerulean Winds, plans to develop a network of floating wind farms, aiming to contribute significantly to the UK's offshore wind power generation
🔭 The context: Floating turbines can be installed in deeper waters than conventional turbines, allowing access to areas with higher wind speeds
• This technology is crucial for the UK's target of net-zero carbon emissions by 2050 and could account for over half of the 100 gigawatts offshore wind power target.
🌍 Why it matters for the planet: The project, expected to be operational by 2028, will initially supply clean electricity to North Sea oil and gas platforms
• As fossil fuel extraction declines, it will increasingly send excess power to the mainland, marking a significant shift in sustainable energy generation.
⏭️ What's next: The sector's growth depends on upcoming government subsidy contracts and the first commercial-scale floating wind auction by the Crown Estate
• These events will be critical in advancing the sector from pilot projects to large-scale commercial operations.
💬 One quote: "Floating offshore wind is a new frontier." - Dan Labbad, Chief Executive of the Crown Estate.
📈 One stat: The UK currently has two small floating wind pilot projects operational, representing more than a third of the installed global capacity for floating turbines.
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