Ocean Renewable Energy Action Coalition (OREAC) Complete Review

 

 Renewable Energy 

 Organization 

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Ocean Renewable Energy Action Coalition (OREAC)

The Ocean Renewable Energy Action Coalition (OREAC) is a global coalition of organizations working together to accelerate the deployment of offshore renewable energy and unlock the full potential of the oceans. 

The coalition was launched in 2020 and is composed of companies, intergovernmental organizations, and NGOs.

The goal of OREAC is to facilitate the deployment of 1,400 GW of offshore wind and 50 GW of ocean energy by 2050. This would represent a significant increase from current levels of deployment and would require significant investment and policy support from governments and the private sector.

OREAC advocates for the development of supportive policy frameworks that incentivize the deployment of offshore renewable energy, as well as for the creation of an enabling environment that promotes innovation and collaboration across the sector. The coalition also works to engage with key stakeholders, including governments, communities, and industry, to build support for the transition to a clean energy future.

OREAC is committed to advancing sustainable development and ensuring that the growth of offshore renewable energy is aligned with the protection and preservation of marine ecosystems and biodiversity. The coalition recognizes that offshore renewable energy has the potential to provide significant benefits to both the environment and society and is committed to ensuring that these benefits are realized in a responsible and equitable manner.

Headquarters:Ocean Renewable Energy Action Coalition c/o Ørsted Kraftværksvej 53 DK-7000 Fredericia Denmark

Website: https://www.oceanrenewable.com/

Email: info@oceanrenewable.com

Phone: Not publicly listed.

Ocean Renewable Energy Action Coalition (OREAC) - History

The Ocean Renewable Energy Action Coalition (OREAC) was launched in 2020 as a global coalition of organizations committed to accelerating the deployment of offshore renewable energy. The coalition was formed by nine founding organizations, including Ørsted, Equinor, Siemens Gamesa, MHI Vestas, Ocean Winds, Shell, Mainstream Renewable Power, Global Marine Group, and JERA.

OREAC was established in response to the urgent need to address climate change and the significant potential of offshore renewable energy to play a key role in reducing greenhouse gas emissions. The founding organizations recognized the need for a collaborative approach to drive progress in the sector and identified the formation of a coalition as a key mechanism for achieving this goal.

Since its launch, OREAC has continued to grow and now includes over 50 member organizations from across the public and private sectors. The coalition has been actively engaged in advocacy and outreach efforts to build support for the transition to a clean energy future and to promote the deployment of offshore renewable energy.

OREAC has also been working to develop a roadmap for the deployment of 1,400 GW of offshore wind and 50 GW of ocean energy by 2050, in collaboration with the International Energy Agency (IEA). This roadmap is intended to provide a blueprint for action by governments, industry, and civil society to accelerate the deployment of offshore renewable energy and unlock the full potential of the oceans.

Ocean Renewable Energy Action Coalition (OREAC) - Vision and Mission

The Ocean Renewable Energy Action Coalition (OREAC) has a clear vision and mission to guide its efforts towards accelerating the deployment of offshore renewable energy.

Vision: OREAC envisions a world where offshore renewable energy plays a key role in reducing greenhouse gas emissions and supporting sustainable economic growth, while also protecting and preserving marine ecosystems and biodiversity.

Mission: OREAC's mission is to accelerate the deployment of offshore renewable energy by advocating for supportive policy frameworks, creating an enabling environment that promotes innovation and collaboration, and engaging with key stakeholders to build support for the transition to a clean energy future.

OREAC aims to achieve its mission by pursuing the following goals:

Facilitate the deployment of 1,400 GW of offshore wind and 50 GW of ocean energy by 2050, in line with the IEA's Sustainable Development Scenario.

Advocate for the development of supportive policy frameworks that incentivize the deployment of offshore renewable energy and provide certainty and stability for investors.

Create an enabling environment that promotes innovation and collaboration across the sector, including through the sharing of best practices and the development of common standards.

Engage with key stakeholders, including governments, communities, and industry, to build support for the transition to a clean energy future and ensure that the benefits of offshore renewable energy are realized in a responsible and equitable manner.

Ensure that the growth of offshore renewable energy is aligned with the protection and preservation of marine ecosystems and biodiversity, and promote sustainable development in the sector.

Ocean Renewable Energy Action Coalition (OREAC) - Director Board and Member

The Ocean Renewable Energy Action Coalition (OREAC) has a Director Board that oversees the coalition's activities and strategic direction. The Director Board is composed of representatives from several of OREAC's member organizations.

As of September 2021, the OREAC Director Board includes the following individuals:

Benj Sykes, Vice President of UK Offshore Wind at Ørsted

Stephen Bull, Senior Vice President for Wind and Low Carbon Development at Equinor

David Mesonero, Chief Financial Officer at Siemens Gamesa Renewable Energy

João Metelo, CEO at Principle Power

Gonzalo de la Melena, CEO at Ocean Winds

Jenny Norman, Global Director for Offshore Wind at Shell

Andy Kinsella, CEO at Mainstream Renewable Power

Mark Preece, CEO at Global Marine Group

Yugo Nakamura, Executive Officer at JERA

OREAC's membership includes over 50 organizations from across the public and private sectors, including companies, intergovernmental organizations, and NGOs. Some of the member organizations include:

Ørsted

Equinor

Siemens Gamesa Renewable Energy

MHI Vestas Offshore Wind

Ocean Winds

Shell

Mainstream Renewable Power

Global Marine Group

JERA

The Ocean Conservancy

The Nature Conservancy

The World Wide Fund for Nature (WWF)

The International Renewable Energy Agency (IRENA)

The International Energy Agency (IEA)

Ocean Renewable Energy Action Coalition (OREAC) - Data

As of my knowledge cutoff date of September 2021, the Ocean Renewable Energy Action Coalition (OREAC) did not publish any specific data on its website or in public reports. However, here are some general statistics related to offshore renewable energy that provide context for OREAC's mission:

As of 2021, the installed capacity of offshore wind globally was around 35 GW, according to the Global Wind Energy Council. This is expected to increase to 234 GW by 2030 and to 1,400 GW by 2050, according to the International Energy Agency.

The International Energy Agency estimates that offshore wind has the potential to generate more than 36,000 terawatt-hours of electricity per year, which is more than 18 times the global electricity demand in 2019.

Ocean energy, including wave and tidal energy, is still in the early stages of development, with a global installed capacity of less than 1 GW as of 2021, according to the International Energy Agency.

Offshore renewable energy has the potential to play a significant role in reducing greenhouse gas emissions, with the International Energy Agency estimating that offshore wind and ocean energy combined could contribute up to 20% of the global electricity supply by 2050.

Ocean Renewable Energy Action Coalition (OREAC) - Project

The Ocean Renewable Energy Action Coalition (OREAC) is a coalition of organizations that work together to accelerate the deployment of offshore renewable energy. As such, OREAC does not have its own projects, but rather supports and advocates for the development of offshore renewable energy projects around the world.

Some of the projects that OREAC members are involved in include:

Ørsted's Hornsea Project One and Hornsea Project Two offshore wind farms in the UK, which will have a combined capacity of 3.6 GW when complete.

Equinor's Hywind Tampen floating offshore wind farm in Norway, which will have a capacity of 88 MW and provide renewable energy to offshore oil and gas platforms.

Siemens Gamesa Renewable Energy's Hai Long offshore wind farms in Taiwan, which will have a combined capacity of 1.044 GW when complete.

Ocean Winds' Moray East offshore wind farm in Scotland, which will have a capacity of 950 MW when complete.

Shell's involvement in several offshore wind projects in Europe, including the Borssele 3 and 4 wind farms in the Netherlands and the Dogger Bank A and B wind farms in the UK.

OREAC members also work to support the development of policies and frameworks that enable the deployment of offshore renewable energy projects around the world, including through engagement with governments, communities, and other stakeholders.

Conclusion for Ocean Renewable Energy Action Coalition (OREAC)

The Ocean Renewable Energy Action Coalition (OREAC) is a global coalition of over 50 organizations that are committed to accelerating the deployment of offshore renewable energy, including offshore wind and ocean energy. 

OREAC aims to raise awareness of the benefits of offshore renewable energy, promote collaboration among stakeholders, and advocate for policies and frameworks that enable the development of offshore renewable energy projects. OREAC's members include leading companies, intergovernmental organizations, and NGOs, and the coalition is governed by a Director Board composed of representatives from several member organizations. 

With the potential to play a significant role in reducing greenhouse gas emissions and meeting global energy demand, offshore renewable energy is a critical part of the transition to a more sustainable future, and OREAC is playing a key role in driving this transition forward.