{"id":58343,"date":"2020-03-12T12:49:45","date_gmt":"2020-03-12T12:49:45","guid":{"rendered":"https:\/\/www.alj.com\/?post_type=perspective&p=58343"},"modified":"2022-05-05T06:26:13","modified_gmt":"2022-05-05T06:26:13","slug":"wind-power-at-full-force-in-landmark-year","status":"publish","type":"perspective","link":"https:\/\/alj.com\/en\/perspective\/wind-power-at-full-force-in-landmark-year\/","title":{"rendered":"Wind power at full force in landmark year"},"content":{"rendered":"

Global energy consumption is predicted to double by 2050 as urban development and electric vehicles combine \u00a0to further deplete existing energy sources[1]<\/a>.<\/p>\n

\"IRENASimultaneously, the International Renewable Energy Agency (IRENA<\/a>) warns CO2<\/sub> emissions will need a 70% reduction by that same mid-century date to meet existing climate targets[2]<\/a>.<\/p>\n

More energy, yet fewer emissions. \u00a0How to square that critical circle?<\/p>\n

The latest global trends in green energy<\/a> production suggest that the answer isn\u2019t so much staring,<\/em> but blowing<\/em> in our face: wind power.<\/p>\n

As the last 12 months have confirmed, the rise of wind is both unstoppable and global.<\/p>\n

In its newest market outlook report, the Global Wind Energy Council (GWEC<\/a>) foresees an additional 330 GW of wind energy capacity installed from now until 2023, bringing total global capacity to over 900 GW[3]<\/a>. \u00a0The main markets driving this boom are the USA and China, where onshore wind markets will add 6.5 GW and 10 GW capacity respectively over the next two years.<\/p>\n

And this is only a light breeze, in terms of what is to come.<\/p>\n

\"Wind<\/p>\n

Peering further into the future, the European Wind Energy Association (EWEA) believes that by 2030 the EU alone will host 320 GW of wind capacity, <\/a>meeting almost a quarter<\/em> of the region\u2019s power demand[4]<\/a>. \u00a0<\/p>\n

In financial and human terms, this means a \u20ac 239 billion (US$ 261 billion) investment in wind over the next decade and 569,000 new jobs across the continent[5]<\/a>.<\/p>\n

Such enticing figures help explain why the wind industry has grown so rapidly in 2019 \u2013 and why this acceleration is likely to continue.<\/p>\n

Americas lead milestone moments<\/h2>\n

In its report of February 2020, the GWEC highlights a record 13.4 GW of new wind capacity installed across North, Central and South America (the Americas) in 2019[6]<\/a>. \u00a0\u00a0This marks a significant 12% increase from 2018\u2019s new installations and brings the region\u2019s total capacity to 148 GW.<\/p>\n

\"Global<\/p>\n

Looking ahead, the Americas surge is expected to continue, with GWEC forecasting some more than 220 GW new capacity between now and 2024.<\/p>\n

Ram\u00f3n Fiestas<\/a>, Chair of GWEC\u2019s Latin America Committee, notes Latin America\u2019s massive potential for wind energy. \u00a0He envisages many countries in the region forging reputations as renewable energy leaders via auctions delivering wind energy<\/a> at globally competitive prices. \u00a0<\/p>\n

\n

\u201cNew markets such as Colombia, which successfully executed its first renewable energy auction in 2019 <\/em>[with US$ 1.8 billion of investment over the next three years[7]<\/a>], and existing ones like Chile, which saw a record year installing 526 MW, show that there is still great untapped potential in the region,\u201d<\/em> he explains[8]<\/a>.<\/p>\n<\/blockquote>\n

Abdul Latif Jameel Energy<\/a> is one of the key players driving renewables expansion in Chile and Latin America, though renewable energy specialists Fotowatio Renewable Ventures (FRV<\/a>).<\/p>\n

\"ManuelManuel Pavon<\/a>, FRV Managing Director for South America, believes Chile\u2019s early adoption of renewables, and its renewables-friendly regulatory framework, mean that, alongside Brazil, it has the potential to become one of the continent\u2019s renewables success stories.<\/p>\n

\u201cWithin the Latin American region, most countries are at a similar stage, and FRV is exploring projects in Uruguay, Brazil, Peru and Colombia. <\/em><\/p>\n

But Chile has gone one step further, in terms of things like the regulatory frameworks, for example. \u00a0It can sometimes take a long time to get projects started, but it is very stable and secure. \u00a0That\u2019s why also most banks in Latin America are based in Chile,\u201d<\/em> he says.<\/p>\n

Similarly, at a major wind energy<\/a> conference in Buenos Aires in September, it was revealed that more than 70 projects for 4 GW of power have been greenlit across Argentina, with major suppliers including Nordex-Acciona and Vestas expanding their foothold in the country[9]<\/sup><\/a>.<\/sup>\u00a0 Accordingly, Argentina is in the process of establishing five new tower factories to accommodate the burgeoning industry.\u00a0 GWEC CEO Ben Backwell, GWEC CEO, \u00a0predicts billions of dollars in investments and thousands of jobs as the country powers its growing economy.<\/p>\n

Further North, FRV is also making a significant impact through the development of its major solar photovoltaic developments in Mexico. \u00a0Its Potosi solar plant, in San Luis de Potosi, began operations in 2019. \u00a0It will generate 815,000 MWh annually and provide enough energy to supply more than 76,000 homes, reducing Mexico\u2019s CO2<\/sub> emissions by almost 98 million tons per year. \u00a0FRV\u2019s second plant, the Potrero PV plant in Jalisco, will generate 750,000 MWh per year when it is completed in 2020. \u00a0It will supply 128,000 homes and reduce CO2<\/sub> emissions by some 437,000 tons.\u00a0<\/p>\n