We reached out to leading experts in the ESG investing industry to find out their responses, and this is what we found…
QUESTIONWind Power’s role in the renewable energy transition: what are the risks and opportunities?
ANSWERWendy Green– Principal Specialist, Low Carbon Energy Incubation Solutions by SASOL
ANSWERGreen hydrogen is critical for the decarbonization roadmap for many hard to abate sectors such as steel and manufacturing. The green hydrogen value chain uses electricity to deconstruct water into hydrogen and oxygen. Wind power is an excellent source of renewable power for green hydrogen plants, and is a major cost of green hydrogen.
QUESTIONWind Power’s role in the renewable energy transition: what are the risks and opportunities?
ANSWERPeter Fusaro, Founder, Wall Street Green Summit
ANSWERWind power has made tremendous strides in reducing its cost and is now globally deployed to fight climate change. Offshore wind is now ramping up with projects as varied as the US East Coast and Taiwan. Norway’s Equinor is deploying $50 billion for offshore wind projects by 2024. Germany’s Siemens has made technological breakthroughs in induction wind which does not have a gearbox and reduces operating costs. We are at the dawn of the golden age of wind power to be globally distributed.
QUESTIONWind Power’s role in the renewable energy transition: what are the risks and opportunities?
ANSWERMegahan Petersen, Management consultant and board advisor for ESG/Sustainability
ANSWERWind power will be essential in renewable energy investments. There needs to be a diversified renewable energy source mix for reliable delivery and wind is an essential part of that. Its cost structure provides an affordable entry into renewables which will be critical for any company or country that has committed to net zero or low carbon transition.
QUESTIONWind Power’s role in the renewable energy transition: what are the risks and opportunities?
ANSWERPooja Khosla, Executive Vice President Client & Product Development at Entelligent
ANSWERWe are living in the world of climate urgency. Where both speed and scalability matters. With wind power we have constraints both on speed and scalability. Speed because it may take up to 10 years from project idea to project execution. Scalability because windiest sites are often far from the cities that consume most electricity. The most recent energy crisis in Europe is attributed to The Wind Turbine fallouts. These fallouts are classic examples of hurdles that other nations could face as they ramp up their reliance on renewable power if the balance between speed and scalability is not met.
