LAUNCESTON, Australia, June 10 (Reuters) – Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for the commodity producers, the rally is a longer-term boon to their main rival, renewable energy.
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Learn more Our Standards: The Thomson Reuters Trust Principles. Danish energy firm Orsted says Hornsea One covers an area of around 407 square kilometers and is able to power “well over one million UK homes.” On Tuesday, port operator Forth Ports announced plans for a “renewable energy hub” at the Port of Leith in Scotland. The proposed hub, which would be backed by £40 million ($56.55 million) of private investment, is slated to cover 175 acres if built. According to those behind the project, it would offer a “riverside marine berth capable of accommodating the world’s largest offshore wind installation vessels.”
In a statement accompanying the announcement, Charles Hammond, chief executive of Forth Ports, listed a number of factors which made the project an attractive one. He said: “Leith’s proximity to the North Sea, which is set to become home to many more offshore wind developments, coupled with the natural deep waters of the Firth of Forth, makes this an ideal location to support not only those developments already planned, but the pipeline of projects that are sure to follow.”