Offshore wind energy is now a mature technology that greatly contributes to the decarbonisation of the countries that deploy it. In our Integrated Resource Plan (IRP), we set ourselves an ambitious target of reaching 85% renewable energy generation by 2035. We envisage that the main contributor to achieving this target is a ~60MW offshore wind farm that would become operational in 2030.
Developing an offshore wind farm in Bermuda has the potential to bring about significant benefits to the island, including, generating around 180GWh of clean electricity per year that will meet around 30% of the needs of Bermuda, displacing over 110,000 tonnes of CO2e per year and improving air quality in Hamilton, and providing insurance against volatile fossil fuel prices and dampening the impact of potential shocks.
As any other development, an offshore wind farm is expected to have an environmental impact, but we are committed to implementing all the necessary mitigation measures to make that impact acceptable.