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Offshore Wind Energy Market Surge: Harnessing Clean Power from the Depths

Offshore Wind Energy Market Surge: Harnessing Clean Power from the Depths
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Offshore Wind Turbine Market Projected to Hit $39 2 Billion by 2031

USD 30 Billion North Atlantic Offshore Wind Project Launches

May 24, 2021, by Adnan Durakovic Anglo-American joint venture Hecate Independent Power Limited (HIP) has launched its HIP Atlantic Project for installing 10,000 MW of fixed and floating wind turbines in the North Atlantic connected to the UK grid. The long-length, high-capacity, high-voltage direct current (HVDC) transmission cables which will connect the wind farms to the UK grid are to be manufactured in the United Kingdom at a GBP 200 million bespoke power cable plant to be built at a port in the northeast of England, HIP said The total project cost is estimated at GBP 21 billion (USD 30 billion). HIP has lodged four connection applications with National Grid Company for an initial 4,000 MW of grid connections to the United Kingdom’s 400 kV electricity transmission system across four connection sites.

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