Offshore wind farms to invest $1.2 trillion to hit climate goals
25.10.2019 - Davydova Maria
Offshore wind farms to invest $1.2 trillion to hit climate goals

Offshore wind farms to invest $1.2 trillion to hit climate goals

An influx of new offshore wind farms around the world is set to invest an estimate of $840 billion over the next two decades, the International Energy Agency (IEA) said.

The Paris-based institution’s outlook for an additional 20 gigawatts of new offshore capacity a year would still not be enough to hit global climate targets. Capacity additions would need to be nearing 40 gigawatts a year in the next decade. This would cost over $1.2 trillion worth of investment according to the IEA in a Friday report.

The water-sited windmills could provide more electricity than there is demand for a number of countries like Europe, the U.S.A, and Japan, the agency reported. The technology has boomed in recent years and is set to grow in newer markets such as the U.S. and China.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue