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October 17, 2018

Scottish Power to provide 100% renewable energy

Energy firm Scottish Power is set to become the first major UK energy company to switch to completely clean energy, replacing coal and gas with wind.

By Scarlett Evans

Energy firm Scottish Power is set to become the first major UK energy company to switch to completely clean energy, replacing coal and gas with wind.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
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Chief executive Keith Anderson said: “We are leaving carbon generation behind for a renewable future powered by cheaper green energy. We have closed coal, sold gas and built enough wind to power 1.2 million homes.”

Power company Drax reportedly purchased the company’s final gas and hydro stations for £702m.

Scottish Power has also announced plans to invest £5.2bn into its renewable capacity over the next four years, in an attempt to more than double its clean energy sources and make electricity ‘cleaner and cheaper for Britain’.

Kate Blagojevic, UK head of energy at Greenpeace, told the BBC: “Big utilities across Europe have been shedding their dirty fossil fuel infrastructure because it makes economic and environmental sense. This move by Scottish Power shows that the same maths adds up in the UK too.

“Climate science could not be clearer that renewables are the future for powering our world. We need the government to give renewable energy industry its full backing rather than propping up the fossil fuel and nuclear companies.”

Over the past decade, Scottish Power has closed all of its coal plants, and now has 2,700MW of wind power capacity either in operation or under construction in the UK. Further projects in the pipeline have a capacity of more than 3,000MW.

Having faced criticism in the past for high carbon emissions, Drax is seeking to transition away from coal. The move is thought to be in anticipation of the government’s introduction of an emissions limit on coal plants from 2025, with the firm having already converted four of its six units in operation to wood pellets.

Drax chief executive Will Gardiner said: “We believe there is a compelling logic in our move to add further flexible sources of power to our offering.”

The firm is currently the operator of the UK’s largest power plant in North Yorkshire. In May, Drax announced a pilot scheme at the plant to capture carbon produced from burning wood pellets, turning the site into the first bioenergy carbon capture storage facility of its kind in Europe.

If successful the firm said they would roll the scheme out on a wider scale, and achieve what it said would be the ‘holy grail’ of power generation.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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