The local weather, as earlier than, is some extent of debate on the 2023 World Financial Discussion board (WEF) in Davos, and the discussions are primarily centered on the potential impression that new applied sciences can have on altering a planet. in peril.
Miguel Stilwell, the CEO of EDP, one of many world’s main power suppliers and invests in renewable power, spoke to Euronews Subsequent on the sidelines of Davos concerning the applied sciences wanted to assist struggle the local weather disaster .
David Walsh, Euronews Subsequent: Key to the agenda right here in Davos is the local weather disaster and rising power costs. How does EDP match into that scene?
Miguel Stilwell, EDP CEO: EDP is a worldwide renewable power firm, and so I believe it has an necessary position to play on this power transition that’s taking place. I believe that’s really accelerated now by the warfare in Ukraine and with this renewed focus not solely on the environmental aspect, but additionally extra on the query of power safety, power independence, and in addition how we are able to cut back prices . That’s the reason we now have been a participant now within the renewable sector for greater than 20 years investing this time in varied completely different areas of the world. Europe is clearly our fundamental market. And so we proceed to speculate to make sure that we are able to present decrease prices, power safety, and in addition cut back emissions.
Renewable power is a crucial a part of the local weather disaster and the way we take care of it. What’s it doing to renewables that’s necessary that we must always know?
So, we now have been one of many main gamers in renewables at this time for the previous 20 years. We’re investing in onshore wind and in addition offshore and in addition photo voltaic. And there are a number of completely different improvements, I believe, which have been happening within the trade within the final couple of years, and we have been on the forefront of that.
By way of offshore, we now have a big portfolio in Europe, in Scotland, France, and Poland, however now within the US on the East Coast, California. So, varied offshore applied sciences have change into extra mature applied sciences. However even inside the offshore trade, offshore know-how can be beginning to acquire scale. And we’re main that when it comes to photo voltaic.
We’re additionally focusing, not simply in your typical photo voltaic, but additionally on issues like floating photo voltaic, for instance, on dams or within the ocean. We’ve got a challenge in Singapore which can be a form of floating photo voltaic there after which combining these completely different applied sciences. And so, I believe EDP has a monitor file and can be attempting to make use of the infrastructure as successfully as potential, combining wind, and photo voltaic batteries on the similar interconnection level. And so there are all these completely different improvements which can be taking place, and we’re on the forefront of that.
And in Europe too? You latterly inaugurated the Alqueva Dam in Portugal. There are current drought issues in Portugal. How does that assist that state of affairs and in addition the power manufacturing in Portugal?
So, we had one of many worst droughts of the final century final 12 months in Portugal. Thankfully, now issues have moved the opposite approach. It is actually raining. What we’re doing, nevertheless, isn’t just benefiting from the dams we now have in Portugal, however we’re placing photo voltaic on those under. ¨
For instance, I’m speaking about floating photo voltaic. Alqueva is the biggest synthetic dam in Europe with a floating photo voltaic set up. In addition they mix it with wind and every part is linked to the hydro plant, which is already there. So you place three completely different applied sciences injecting into the identical interconnection level. That is only one instance.
With the local weather disaster and renewables excessive on the WEF agenda, what message are you bringing to Davos? And are the folks right here listening to the message you deliver?
I believe the important thing message is the switch of power is crucial. We have to do that for all the nice causes, due to the power transition, due to local weather change, due to power independence, and since it reduces prices. That’s the key message. And possibly we now have the know-how, we now have the capital. We have to enhance it.
And that is dependent upon having a powerful regulatory regime and having the appropriate value alerts and ensuring that we actually unlock all of the potential or enterprise potential, bringing collectively public policymakers and personal initiatives to make sure that we are able to present that. And I believe it is an existential subject that all of us must give attention to and produce all of the completely different stakeholders to do this.
One of many criticisms of Davos is that individuals do not pay attention and that collaboration is not all the time there. Do you see that occuring with renewables and the local weather disaster sooner or later?
Pay attention, we now have to do it and we now have to do it quicker. Then what occurred? I believe generally it is irritating. The tempo would not really feel prefer it’s quick sufficient. I’m an optimist. I believe we are able to get there.
However we now have to maintain pushing the message. We’d like to ensure everybody is concentrated on really getting issues carried out. So it is not simply rhetoric, it is not simply phrases, however we’re really implementing it on the bottom with concrete initiatives, doing it, delivering cleaner power at reasonably priced costs for all customers.
