The local weather, as earlier than, is a degree of dialogue on the 2023 World Financial Discussion board (WEF) in Davos, and the discussions are primarily targeted on the potential affect 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 in regards to the applied sciences wanted to assist combat 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 world renewable power firm, and so I feel it has an necessary function to play on this power transition that’s taking place. I feel that’s truly accelerated now by the warfare in Ukraine and with this renewed focus not solely on the environmental facet, but additionally extra on the query of power safety, power independence, and likewise how we will cut back prices . That’s the reason we have now been a participant now within the renewable sector for greater than 20 years investing this time in varied totally different areas of the world. Europe is clearly our foremost market. And so we proceed to speculate to make sure that we will present decrease prices, power safety, and likewise cut back emissions.
Renewable power is a crucial a part of the local weather disaster and the way we cope with it. What’s it doing to renewables that’s necessary that we should always know?
So, we have now been one of many main gamers in renewables at the moment for the final 20 years. We’re investing in onshore wind and likewise offshore and likewise photo voltaic. And there is been a variety of totally different improvements, I feel, occurring within the trade within the final couple of years, and we have been on the forefront of that.
When it comes to offshore, we have now 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 grow to be extra mature applied sciences. However even inside the offshore trade, offshore expertise can be beginning to achieve 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 now have a mission in Singapore which can be a type of floating photo voltaic there after which combining these totally different applied sciences. And so, I feel EDP has a observe document and can be attempting to make use of the infrastructure as successfully as attainable, combining wind, and photo voltaic batteries on the similar interconnection level. And so there are all these totally different improvements which are 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 likewise the power manufacturing in Portugal?
So, we had one of many worst droughts of the final century final yr in Portugal. Thankfully, now issues have moved the opposite approach. It is actually raining. What we’re doing, nonetheless, is not only making the most of the dams we have now 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. Additionally they mix it with wind and all the things is related to the hydro plant, which is already there. So you place three totally 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 feel the primary message is the switch of power is important. 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 perhaps we have now the expertise, we have now the capital. We have to enhance it.
And that is determined by 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 will present that. And I feel it is an existential problem that all of us must deal with and produce all of the totally different stakeholders to try this.
One of many criticisms of Davos is that folks do not pay attention and that collaboration is not at all times there. Do you see that occuring with renewables and the local weather disaster sooner or later?
Pay attention, we have now to do it and we have now to do it sooner. Then what occurred? I feel generally it is irritating. The tempo would not really feel prefer it’s quick sufficient. I’m an optimist. I feel we will get there.
However we have now to maintain pushing the message. We have to ensure that everybody is targeted on truly doing issues. So it isn’t simply rhetoric, it isn’t simply phrases, however we’re truly implementing it on the bottom with concrete initiatives, doing it, delivering cleaner power at reasonably priced costs for all customers.
