Marinus Link Approval, Ørsted Strategic Pivot

Allen discusses Australia's 'Marinus Link' power grid connection, a
$990 million wind and battery project by Acciona, and the Bank of
Ireland's major green investment in East Anglia Three. Plus
Ørsted's strategic changes and Germany's initiative to reduce
dependency on Chinese permanent magnets. Sign up now for Uptime
Tech News, our weekly email update on all things wind technology.
This episode is sponsored by Weather Guard Lightning Tech.
Learn more about Weather Guard's StrikeTape Wind Turbine LPS
retrofit. Follow the show
on Facebook, YouTube, Twitter, Linkedin and visit
Weather Guard on the web. And subscribe to Rosemary Barnes'
YouTube channel here. Have a question we can answer on the
show? Email us! Good day, this is your friend with a look at
the winds of change sweeping across our world. From the waters
around Australia to the boardrooms of Europe, the clean energy
revolution is picking up speed. These aren't just stories about
wind turbines and power cables. They're stories about nations and
companies making billion dollar bets on a cleaner tomorrow. There's
good news from Down Under today. Australia and Tasmania are
officially connecting their power grids with a massive underwater
cable project called the Marinus Link. The project just got final
approval from shareholders including the Commonwealth of Australia,
the State of Tasmania, and the State of Victoria. Construction
begins in twenty twenty six, with completion set for twenty thirty.
This isn't just any cable. When finished, it will help deliver
clean renewable energy from Tasmania to millions of homes on the
mainland. The project promises to reduce electricity prices for
consumers across the region. Stephanie McGregor, the project's
chief executive, says this will change the course of a nation.
She's right. When you connect clean energy sources across vast
distances, everyone wins. The Marinus Link will cement Australia's
position as a leader in the global energy transition. But this is
just the beginning of our story from the land Down Under. Here's a
story about big money backing clean energy. Spanish renewable
developer Acciona is moving forward with a nine hundred ninety
million dollar wind and battery project in central Victoria,
Australia. The Tall Tree project will include fifty three wind
turbines and a massive battery storage system. Construction starts
in twenty twenty seven, with operations beginning in twenty twenty
nine. But here's what makes this special. The project has been
carefully designed to protect local wildlife. Acciona surveyed
eighty two threatened plant species and fifty six animal species
near the site. They've already reduced the project footprint by
more than twenty four square kilometers to protect high value
vegetation areas. This massive investment will create construction
jobs and long term maintenance positions in the region. It will
also provide clean electricity to power hundreds of thousands of
homes while reducing reliance on fossil fuels. When companies
invest nearly a billion dollars in clean energy, they're betting on
a cleaner future. And Australia isn't the only place where that
smart money is flowing. The Bank of Ireland is making headlines
today with its largest green investment ever. The bank has
committed eighty million pounds to East Anglia Three, an offshore
wind farm that will become the world's second largest when it
begins operating next year. Located seventy miles off England's
east coast, East Anglia Three will generate enough clean
electricity to power more than one point three million homes. John
Feeney, chief executive of the bank's corporate division, calls
this exactly the kind of transformative investment that drives
innovation and accelerates the energy transition. This follows the
bank's earlier ninety eight million pound commitment to Inch Cape
wind farm off Scotland's coast. The Bank of Ireland has set a
target of thirty billion euros in sustainability related lending by
twenty thirty. They've already reached fifteen billion in the first
quarter of this year. When major financial institutions back clean
energy this aggressively, they're signaling where the smart money
is going. But what happens when even the biggest players need to
adjust their sails? Denmark's Orsted is recalibrating its strategy
amid changing market conditions. The company is considering raising
up to five billion euros to strengthen its financial position while
scaling back some expansion plans. Orsted has reduced its twenty
thirty installation targets from fifty gigawatts to between thirty
five to thirty eight gigawatts. But don't mistake this for retreat.
The company is focusing on high margin, high quality projects while
maintaining its leadership in offshore wind. The company's
Revolution Wind project in Rhode Island and Sunrise Wind in New
York remain on track for completion in twenty twenty six and twenty
twenty seven. These projects will deliver clean electricity to
millions of Americans. CEO Rasmus Errboe is implementing aggressive
cost cutting measures, including reducing fixed costs by one
billion Danish kroner by twenty twenty six. The company plans to
divest one hundred fifteen billion kroner worth of assets to free
capital for core projects. Sometimes the smartest strategy is
knowing when to consolidate and focus on what you do best. For
Orsted, that's building the world's most efficient offshore wind
farms. And speaking of strategic thinking, Europe is planning ahead
for energy independence. Germany is leading a European push to
reduce dependence on Chinese permanent magnets. The German wind
industry has proposed that Europe source thirty percent of its
permanent magnets from non Chinese suppliers by twenty thirty,
rising to fifty percent by twenty thirty five. Currently, more than
ninety percent of these vital rare earth magnets come from China.
The German Federal Ministry for Economic Affairs and Energy is
backing this diversification effort, working with industry
associations to identify alternative suppliers. The roadmap calls
for turbine manufacturers to establish contacts with new suppliers
by mid twenty twenty five, with production facilities potentially
operational by twenty twenty nine. Karina Wurtz, Managing Director
of the Offshore Wind Energy Foundation, calls this a strong signal
toward a new industrial policy that addresses geopolitical risks.
This isn't just about reducing dependence on one country. It's
about building resilient supply chains that ensure the continued
growth of clean energy. When an industry plans this thoughtfully
for its future, that future looks very bright indeed. You see, the
news stories this week tell us something important. From
Australia's underwater cables to Germany's supply chain strategy,
the world is building the infrastructure for a clean energy future.
Billions of dollars are flowing toward wind power. Major banks are
making their largest green investments ever. Even when companies
face challenges, they're doubling down on what works. The wind
energy industry isn't just growing. It's maturing. It's getting
smarter about where to invest and how to build sustainably. And
that means the winds of change aren't just blowing... they're here
to stay. And now you know... the rest of the story.