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Denmark and the US are teaming up to try to cut the cost of offshore wind energy by 70% by 2035, the Washington Post reports.
According to CleanTechnica, the Department of Energy is giving Denmark $2 million to fund research on "mooring technologies," which "means any equipment to permanently secure a floating full-scale offshore wind turbine structure in position within a deep water offshore wind energy array."
Currently, the cost of installing and maintaining a floating offshore wind turbine is more than double what it would be if the turbines were installed on land.
The Post reports the project could cut that cost in half.
Denmark is one of the world's leaders in the development of floating offshore wind energy systems, according to the Wall Street Journal.
The country's first floating offshore wind energy system, called the Offshore Wind Shot, is expected to be up and running in 2024.
The Post reports the offshore wind energy system could provide power to more than half of Denmark's population.
The project is expected to create thousands of jobs.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
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In part one of a three-part article, Rick Heath examines why the Australian arts industry is not valued or invested in appropriately.The potential outcomes are so huge, says Heath.Has arts investment...more
Foundation: Venture Philanthropy Partners
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Wharton and SP2 Receive $5 million for the Wieler Family Professorship on Social Impact and Philanthropy.It is the first-ever professorship in philanthropy for a faculty member with appointments in...more
'New Realities, New Opportunities': AVPN South Asia Summit 2024 Announces Major Cross-Sector Initiatives.AVPN is the largest network of social investors in Asia.The Summit focuses on addressing South...more
'Impact investing is not just for returns, diversification but also risk reduction,' says LeapFrog CEO.Impact investing is emerging as a lower-risk alternative to traditional private equity,...more
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Social Enterprise Shortlisted for First Citi Microentrepreneurship Awards
First Enterprise Business Agency (FEBA), a Nottingham-based business support organization, is a contender for two categories at the first Citi Microentrepreneurship Awards to be held this coming February.
