• 2020 November 23 12:12

    The UK could increase its ambitions for renewable energy at a lower cost to consumers, new Wärtsilä analysis finds

    Wärtsilä, the global technology company, is launching new analysis showing that investment in flexible energy technologies, such as battery energy storage and advanced flexible gas, can rapidly increase the share of renewable generation in the UK by 2030 at a lower overall cost to consumers.

    The Energy Transition Lab Report: Optimising the UK’s shift to a renewable-powered economy models the impact of current UK ambitions for renewable energy and shows that adding 7GW flexibility to the UK power system by 2030 can deliver a higher share of renewable generation (62%) than could be possible by adding wind and solar without flexibility.

    This flexible scenario could power more than 710,000 more households with renewable energy, cut 2 million tonnes of CO2 emissions and cost the UK GBP 270 million less every year by 2030.

    It could also save the UK economy GPB 660 million a year when compared with installing another new nuclear plant alongside renewable generation. This is due to the high upfront costs and substantial market interventions required for more nuclear.

    The analysis models three scenarios based on the current UK electricity system, energy policy, government pledges on renewable energy growth and predicted growth in renewable generation capacity, to help pin-point the immediate actions the UK can take to accelerate the most cost-effective shift to renewable energy by 2030.

    The scenarios model: 1) achieving 40GW of offshore wind by 2030, as pledged by Boris Johnson, together with an anticipated 7GW of new onshore wind and 20GW of solar; 2) adding the same new renewable generation capacity plus 3GW of new nuclear; 3) an alternative scenario with significant new flexibility (7GW) to enable more new renewables (72GW total wind and solar) without increasing costs compared to adding renewables only.

    The IEA, UK Energy Systems Catapult and Renewable UK have all recently presented the need for more investment in flexibility on UK networks in order to increase renewable energy.

    The Wärtsilä Energy Transition Lab Report makes it clear that installing new flexibility alongside renewable generation by 2030 can deliver more wind and solar power at no additional cost to consumers – indeed it could be cheaper overall. Investment in flexibility also has significant long-term benefits, future-proofing the UK electricity system and supporting an accelerated cost-efficient transition towards 100% renewable power and wider economic decarbonisation by 2050.

    Wärtsilä in brief

    Wärtsilä is a global leader in smart technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation, total efficiency and data analytics, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2019, Wärtsilä’s net sales totalled EUR 5.2 billion with approximately 19,000 employees. The company has operations in over 200 locations in more than 80 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.




2021 January 21

18:07 Port of Houston awarded new start for Ship Channel
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17:27 Rolls-Royce secures research contract with US Navy to develop innovative debris detection technology
17:03 Galeon Yachts announce new outbourd model
16:42 Throughput of port Vysotsk in 2020 fell by 4% Y-o-Y
16:32 Jan De Nul Group is the first dredging company to carry out 100% sustainable beach replenishments in Belgium
16:23 Yaskawa Environmental Energy develops a permanent magnet propulsion system for superyachts
16:09 MABUX Bunker Weekly Outlook, as of Jan 21, 2021
16:00 Throughput of port Primorsk in 2020 fell by 19% Y-o-Y
15:36 Bunker market see mixed price movements in the Far East ports of Russia (graph)
15:13 Battle stations for boat-handling systems
14:58 Port of Ust-Luga throughput in 2020 declined by 1% Y-o-Y
14:43 MasterCraft Boat Company launches digital boat show experience to connect with consumers amidst dynamic boat show season
14:22 ABS grants AIP for DSME’s Solid Oxide Fuel Cell technology
14:05 20% global e-commerce growth fast tracks supply chain tech adoption from 5 year plans into 2021 action
13:43 Sovcomflot and Total sign time charter agreement for up to 7 years for a newbuilding 174,000-cbm LNG carrier
13:21 TFG Marine to start bunkering operations from Falmouth in the United Kingdom
13:11 Ocean carriers battle the Covid cargo crunch
12:52 Throughput of Port St. Petersburg in 2020 remained flat, year-on-year
12:36 UECC opening doors to a sustainable future
12:08 Crowley awarded fuel distribution contract for Arctic North Warning System
12:03 FESCO transported first containers with grain from Khabarovsk to China
11:41 Wilhelmsen Ship Management becomes a member of the Sustainable Shipping Initiative
11:24 Russian Crab Company Group reports annual operational results for 2020
11:05 MABUX: Bunker market this morning, Jan 21, 2021
10:36 MSC earns maritime sustainability certificate
10:20 Maritime UK welcomes Associated British Ports to the Diversity in Maritime Charter programme
10:05 New container service connecting Port of Immingham with Bilbao
09:37 Crude oil prices decrease as US resources grow
09:19 Baltic Dry Index as of January 20
09:01 Maersk Tankers sees 28% pool expansion in 2020
08:58 ICTSI Manila completes berth expansion

2021 January 20

18:54 Galeon Yachts announce new outboard model
18:15 CMA CGM announces FAK rates from Red Sea to North Europe & the Mediterranean
17:46 Håkan Agnevall assumes the position of CEO of Wärtsilä on 1 February 2021
17:16 SMM DIGITAL to stream conference programme online free of charge
17:01 GTNS supports 4th International Congress “Hydraulic Engineering Structures and Dredging” as its Sponsor
16:42 U.S. blacklists oil tankers for undermining Venezuela sanctions
16:00 Krasnoye Sormovo shipyard launches dry cargo carrier Victor Andryukhin
15:24 Port Houston presents 2040 Plan
15:07 RF Navy’s patrol boat "Yaroslav Mudry" conducts exercises in the sea ranges of the Baltic Fleet
14:45 Amendments to increase safety proposed to Finland's Water Traffic Act
14:26 Polaris sets off for the Bay of Bothnia as the season’s third icebreaker
14:02 First vessel certified with Responsible Fishing Vessel Standard by LR
13:41 SMM DIGITAL: Leading international maritime trade fair to stream conference programme online free of charge
13:23 Port of Los Angeles to reward container terminals for higher truck productivity
13:02 Dublin Port throughput increases by +7.6% in Fourth Quarter of 2020
12:35 Seaports of Okhotsk Sea and Tatar Strait increased their throughput by 4.4% YoY
12:21 Port of Zeebrugge container volume up 10.3 percent in 2020
12:10 CMA CGM announces PSS for cargo from India to North Europe & the Mediterranean
11:43 Rosmorport’s icebreakers completed over 2,400 pilotage operations in freezing seaports of Russia this season
11:18 Global Ports’ consolidated marine container throughput for the full year 2020 increased by 6.6%
10:54 Damen signs with Svitzer for ASD Tug 3212
10:54 Capacity of Russian seaports in 2021 to be increased by 50 million tons
10:30 MABUX: Bunker market this morning, Jan 20, 2021
10:12 Cryogas-Vysotsk reaches LNG milestone of one million tons
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09:16 Baltic Dry Index as of January 19

2021 January 19

18:05 Wärtsilä signs a 5-year long-term service agreement with leading Chinese dredging company