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The pound has bounced back on renewed hopes that Britain and the EU are on the verge of a Brexit deal.

Oil prices have fallen sharply to levels not seen for almost a year as traders see a return of a glut in supplies at a time of falling demand.

Theresa May is facing a mass resignation of ministerial aides if she refuses to accelerate a crackdown on fixed-odds betting terminals.

 

Amazon says its new second headquarters will be split between New York City and Arlington, Virginia – ending months of speculation.

An investigation by cyber security firm Symantec has now uncovered that the North Korean government is stealing tens of millions of dollars by hacking into banks and forcing ATMs to dispense cash to mules.

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Larger turbines to help drive growth in European wind energy

Industry body WindEurope estimates the wind energy capacity on the continent to grow at an average of 17.4 gigawatts per year up until 2022

The Larger-sized wind turbines are expected to push growth in both the onshore and offshore sectors. The European wind energy sector is set for “solid growth” over the next five years in general, stated WindEurope in its “Wind Energy Outlook in Europe” report.

It also stated that by 2022, Europe could have 258 gigawatts of installed capacity, with a majority of the new installations coming in the onshore sector.

Wind turbines, larger than 4 megawatts in the onshore sector, and 8 megawatts in the offshore sector, will become “the new norm” and help push growth.

Europe is home to some of the world’s most ambitious wind energy projects.

Last week, the Walney Extension Offshore Wind Farm opened in the Irish sea—with a total capacity of 659 megawatts. It is currently the world’s largest operational offshore wind farm and is capable of powering nearly 600,000 homes in the UK, according to Danish energy business Orsted.

Germany, according to the report will remain Europe’s wind energy powerhouse, home to 73 gigawatt of capacity in 2022, although its share of new installations is expected to drop from an average of 40% over the last five years to 24% of total installations during the next five years.

Giles Dickson, WindEurope’s CEO stated: “Wind energy is on track for solid further expansion in Europe over the next five years.”  

“But this growth comes mostly from yesterday’s decisions,” he added. “The outlook for new investment decisions over the next five years is less clear. Most governments still haven’t clarified their plans for new wind farms up to 2030.” He further added.

-GBO Correspondent

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