New Plymouth (Commonwealth Union) – The wind power industry has been steadily growing over the past few decades, as the world grapples with climate change and the need for cleaner, more sustainable energy sources and a crucial component of the green economy. A newly released report highlights the exceptional opportunity for the UK and New Zealand to fully tap into New Zealand’s offshore wind potential.
The report, created by the global energy consultancy The Xodus Group, was unveiled at an event in New Plymouth. It emphasizes the significant prospects offshore wind offers New Zealand. With 15,000km of coastline, the country is well-positioned to leverage one of the world’s premier wind resources to achieve its climate goals and expand its green economy.
According to the report, New Zealand has the necessary components to fast-track its offshore wind industry, including abundant resources, growing demand, a supportive regulatory framework and strong social backing to enhance the New Zealand offshore wind sector.
The UK, as the world’s second-largest offshore wind market with 13.9 gigawatts fully operational by 2023, has developed a robust supply chain. The UK government stated that it is not only focused on meeting its domestic needs, which are projected to more than triple by 2030, but also on sharing its expertise and capabilities with global markets such as New Zealand.
The UK can contribute crucial knowledge in areas essential for the success of offshore wind, such as financing strategies, price stabilization mechanisms, supply chain development both locally and internationally, and regulatory harmonization.
At the launch event in New Plymouth, the British High Commissioner to New Zealand, HE Iona Thomas OBE, indicated that addressing climate change is a pressing priority and that it does not have to come at an economic expense. The UK has recently demonstrated that it is possible to boost economic growth while also reducing emissions by half since 1990.
She further indicated that meeting the ambitious targets set by both New Zealand and the UK demands an extraordinary and transformative shift. “Together, in partnership with friends, New Zealand and the UK have an opportunity to showcase the world what world leading offshore wind industry can look like,” she said.
