There is a clean energy revolution taking place across the world, and as former U.S. President Barack Obama predicted, it is going to be irreversible.
Big energy players are now cutting their ties to non-renewable energy sources (oil, gas, coal, and fossil fuels) and are taking a 180-degree turn to focus more on other means for renewable energy (such as wind, solar, biomass, geothermal, and hydropower) that are highly sustainable, cost-efficient, and less damaging to the environment.
The Future Belongs To Renewable Energy Sources
Denmark's Dong Energy announced its plan to phase out the use of coal in all of its power plants in Europe by 2023. In six years, the Danish green energy group wants nothing to do with coal and is optimistic that, by that time, all of its power plants will be running only on sustainable biomass or wood pellets from the Baltic States.
Dong Energy has already cut back on its coal use from 6.2 million tons 10 years ago to 1.7 million tons in 2016.
"The future belongs to renewable energy sources," Dong Energy Chief Executive Henrik Poulsen declared. This decision is in line with the company's vision to be at the forefront in the transformation to a sustainable energy system and create a leading green energy company, Poulsen added.
Last year, Dong Energy decided to leave the oil and gas business for good and put billions of dollars of its North Sea oil and gas assets up for grabs.
The Hornsea Project Two
Dubbed as the world's largest operator of offshore wind farms, Dong Energy will begin the construction of U.K.'s Hornsea Project Two before the end of 2017.
Proclaimed as the world's biggest offshore wind farm, the Hornsea Project Two is an extension of 1.2GW Hornsea Project One and will soon rise off the English coast in Britain.
Worth 6 billion British pounds, or $7.8 billion U.S. dollars, in total investment, the Hornsea Project Two will have up to 300 turbines and a capacity of up to 1.8 gigawatts, which could produce enough energy to power 1.6 million homes.
"Britain is a global leader in offshore wind, and we're determined to be one of the leading destinations for investment in renewable energy," British Business Minister Greg Clark said.
"A project of this size will help in our efforts to continue reducing the cost of electricity from offshore wind and shows our commitment to investing in the UK," Brent Cheshire, DONG Energy's UK Country Chairman, stated.
According to Poulsen, Dong Energy will also begin its REnescience Northwich project, which is seen as the world's first large-scale waste-fuelled bio plant, in 2017.