There’s no shortage of bad news these days, but looking at the trends in renewable energy, there’s plenty of hope. Last year, the world broke a record for new wind installations, installing nearly three wind turbines each hour. At that rate the need for proven subsea equipment will certainly increase as well. At PMI, we are focused on this market, the trends that will lead the energy revolution and helping these customers realize a significant return on investment.
Wind energy is surging back to stronger levels of investment is just one of the trends. Read about all them here.
In 1969, PMI emerged in the underwater market by introducing the helical wire concept for use on underwater cables. And since then, we have earned a global reputation for providing the right products at the right time.
Today, as Denmark is proving to generate 140 percent of its electricity needs from wind power, we know that the right time for wind power is now and we can provide the right subsea cable hardware products to help the this industry grow.
Oliver Joy, a spokesman for the European Wind Energy Association said: “It shows that a world powered 100% by renewable energy is no fantasy. Wind energy and renewables can be a solution to decarbonization – and also security of supply at times of high demand.” Read more…
Oil energy and renewable energy are two totally different marketplaces, generating two different products used in different ways. As different as they may be, they still require the same equipment – rugged subsea grips, hangers, and terminations – with the same goal: extending service life and maintaining integrity in extreme underwater environments.
They operate in different markets. Oil is predominantly used for transport—cars, trucks, planes. Very little of it is used for power; oil accounts for less than 1 percent of power generation in the United States and Canada, for example, and not much more in Europe. Globally, the figure is around 5 percent. Renewables, in contrast, are used mostly to create electricity. The more important factor for renewables, then, is not the price of oil, but the price of electricity, and the latter is not entirely a function of the cost of fuel. The electrical grid itself is expensive, which is why US power costs, which are relatively low in global terms (an average of 12 cents per kilowatt-hour), have been rising. In Europe and Japan, electricity costs are significantly higher, and the relative position of renewables is correspondingly better. Read more…