Wind Energy – Launch of OEP
Launched at COP28, Ocean Energy Pathway (OEP) is a new global non-profit that accelerates the global clean energy transition by unlocking the tremendous potential of offshore wind power.
Ocean Energy Pathway (OEP) is a flagship initiative supported by the newly announced Ocean Resilience and Climate Alliance (ORCA), a $250 million+ USD funder collaborative focused on advancing ocean-based solutions to fight climate change.
Offshore wind is an energy and climate solution, with the potential to play a major role both in delivering the tripling of renewables called for so far by more than 120 countries at COP28, and through driving economic growth and bolstering energy security.
Offshore wind represents a unique opportunity for many countries to build a new clean energy industry, and create a durable economic alternative to fossil fuel dependency.
To achieve net-zero emissions globally, the International Renewable Energy Agency (IRENA) forecasts the need for 2,000 gigawatts of offshore wind by 2050. However, policy, regulatory, and supply chain barriers are constraining the immense potential of this technology. A sustainable scale-up means delivering jobs and prosperity alongside enhanced ocean ecosystems.
Through support from the global wind industry and climate philanthropy, Ocean Energy Pathway will accelerate offshore wind development over the next decade in at least ten markets with significant wind resources at the frontier of the energy transition, including India, Brazil, Colombia, and South Africa.
Built upon multi-stakeholder collaboration in each country, OEP delivers programs through a two-pronged approach: providing technical assistance and advisory services to governments; and coalition-building and advocacy with local and global civil society partners. These efforts create investable conditions tailored to each country’s unique circumstances – ensuring that offshore wind can thrive.