Wood Secures €1 Billion for Major Clean Energy Projects in Europe
Key Ideas
  • Wood secures €1 billion for three major clean energy projects in Europe, including Lithuania's largest onshore wind farm and a green hydrogen project in Spain.
  • The projects have reached the final investment decision stage, signaling a significant step towards enhancing renewable energy capacity and reducing carbon emissions.
  • Europe's commitment to renewable energy, with plans for significant offshore wind capacity, highlights the importance of capital investment for energy diversification and transformation.
Wood, a global consultancy, has secured €1 billion for three major clean energy projects in Europe. The projects include Lithuania's largest onshore wind farm with a capacity of 821 megawatts, expected to power 270,000 households and reduce carbon emissions by over 200,000 tonnes annually. Another project involves a green hydrogen initiative in Spain, combining wind and solar energy to produce green hydrogen. Additionally, a 553MW onshore wind project in Sweden, comprising four wind farms, is part of the investment. Azad Hessamodini, Executive President for Consulting at Wood, highlighted Europe's role in advancing renewable energy projects, emphasizing the need for significant capital investment to facilitate energy mix diversification. The completion of the final investment decision for these projects signifies a crucial step towards accelerating renewable energy adoption and mitigating carbon emissions.
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