EGEB: The world’s largest floating wind farm is now complete

In today’s Electric Green Energy Brief (EGEB)

  • The world’s largest floating beach wind farm, Kinkardin Beach Wind is now installed.
  • The IMF is undermining global climate goals by advising countries to invest in fossil fuels.
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Coastal wind farm completed

The installation of the world’s largest 50 MW Kincardine Offshore Wind farm, 9 miles (15 km) off the coast of Aberdeen, Scotland, is now complete.

The wind farm consists of 2 megawatts vestas turbines and five 9.5 megawatts vestas turbines.

It is expected to generate up to 218 GW of clean electricity annually to generate 55,000 households.

Cobra Wind, headquartered in Madrid, was responsible for wind farming, engineering, design, supply and construction. The Navantia-Winder Union in Spain built floating wind foundations. They then traveled to Rotterdam in the Netherlands, where wind turbines were installed.

Read more The Biden administration is opening up the American Pacific coast to the sea

Bad advice from the IMF

The International Monetary Fund (IMF) describes itself as follows:

[A]The 190-nation organization is working to strengthen global financial cooperation, maintain financial stability, facilitate international trade, promote greater employment and sustainable economic growth, and reduce global poverty.

However, the IMF, through its policy advice, has promoted the spread of fossil fuels, and their dependence on coal and gas, which is hurting their economy and the planet, has slowed global climate change. Breton Woods NGO.

The report, Risks of IMF monitoring and climate change transition, It is based on an analysis of all 595 Article IV reports in the IMF 190 member states between the signing of the Paris Agreement between December 2015 and March 2021. The fourth quarter report contains policy advice for developing countries. Report found –

  • More than half of the 105 member states, the IMF Policy Council – if world leaders agree to reduce global warming to 1.5C by national measures to reduce emissions – support the expansion of fossil fuels. This puts countries at risk of abandoning costly coal plants with “climate goals”, as well as the path to pollution that is inconsistent with global climate goals and the right transition to renewable energy.
  • In more than one-third of the countries (69), the IMF has argued for the privatization of government-owned power or electricity facilities to reduce public spending. Privatization makes it difficult for governments to stop fossil fuels by tying long-term agreements with foreign investors.
  • One-third of all countries have been advised to cut off energy subsidies: the region is growing as a first step in easing the IMF economy. However, the study focuses on consumer subsidies, rather than focusing on fossil fuels. In most developing countries, with fewer options for fossil fuels and transportation, this is less likely to reduce emissions by measuring these costs to ordinary citizens – rather than fighting the generous subsidies for fossil fuels.

Niranjali Amerashin, Executive Director of Action Aid USA and Climate Finance Expert, says:

The policy advice should ensure that the transition of the International Monetary Fund to renewable energy is not easy but difficult.

Photo – Cobra Group

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