Billionaire Economou Seeks to Replace Trafigura As Partner in Italy’s Top Oil Refinery
The main investor in Italy’s biggest oil refinery is sounding out trading firms to replace Trafigura Group as the plant’s supply partner.
The United Kingdom’s offshore wind pipeline is approaching the 100 gigawatt (GW) mark, according to UK-based trade association RenewableUK, as the global pipeline now tops 1.23 terawatts (TW) of wind energy capacity.
At 98 GW, the UK’s offshore wind pipeline is second in the world only to China, which has a pipeline of 157 GW. The United States comes in third with 82 GW, and Sweden and Brazil round out the top five.
The pipeline includes projects at every stage of development, including operational, under construction, consented or planned.
The UK held the crown for most operational offshore wind energy capacity until late 2021 when it was surpassed by China, which now accounts for 48% of the global operational capacity.
“These latest Energy Pulse figures show that both the UK and global offshore wind pipeline is continuing to grow at pace, with new projects coming forward on a massive scale,” said Dan McGrail, CEO of RenewableUK.
Despite its accomplishments thus far, the UK is setting its sights on the future.
“While the UK has established itself as a global leader in both fixed-bottom and floating wind, we cannot afford to be complacent,” said McGrail. “More and more countries are fleshing out their offshore ambitions, with clear plans for future developments and industrial strategies to accompany them.”
McGrail noted the Inflation Reduction Act in the U.S. and the EU’s Green Industrial Deal as factors driving increased competition for investment, leading to more development in offshore wind energy.
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