Energy Global’s article ‘World Bank’s ESMAP releases offshore wind report‘ covers the launch of the World Bank’s Energy Sector Management Assistance Program (ESMAP) has released a report distilling experiences from established offshore wind markets into key success factors for emerging markets. The report is a publication of the World Bank Group’s Offshore Wind Development Program led by ESMAP in partnership with the International Finance Corporation (IFC). It was prepared by Arup and BVG Associates.
The story summarises the findings of the report by mentioning that 0ffshore wind is a rapidly growing industry which holds tremendous promise for many emerging markets as a large scale, clean, reliable form of new electricity generation with the potential to stimulate valuable economic benefits, reduce emissions, and increase energy access. It also mentions that emerging markets hold an unrealised potential of over 16 000 GW of technically extractable offshore wind resources. It highlights that developing a new offshore wind sector in an emerging market is not an easy task. Decision makers must strike a careful balance as they consider a myriad of technical, political, environmental, and social challenges.
It goes on to summarise the key findings and recommendations of the report for governments in setting the correct polices, targets and financial environment for offshore wind to flourish.
You can read the Energy Global article here: ‘World Bank’s ESMAP releases offshore wind report‘ and find out more about the report on this page: ‘Key Factors for Successful Development of Offshore Wind in Emerging Markets‘.