So here’s a video of Tom and me chatting about Vestas Ltd - a global Wind Turbine manufacturing and servicing company!
Why does Vestas work on wind energy?
Vestas are leading the way in transforming renewable energy into mainstream energy - with the aim of removing millions of tonnes of CO2 every year from the atmosphere, helping prevent climate catastrophe. Not bad for a global corporation!
How are they doing?
Currently producing 100GW of energy annually through wind turbines, is the equivalent of saving 129 million tonnes of CO2!
To store that much carbon in reforestation projects, it would take 152 million acres of trees to be planted!
What does the future hold for the industry?
Vestas are making huge strides in wind technology and ensuring that the planet’s population transitions to greener energy.
Demand for renewables is only going up.
Renewable energy is set to increase by 40% between 2017 and 2035 - mainly through a factor of population growth, transport electrification and industrial processes.
So what is the Lake Turkana project?
This was a project carried out with Vesta’s that had the aim of producing a wind farm in Kenya, to provide affordable, clean and renewable energy for the countries population.
The project’s impact extended well beyond the raw energy of the turbines themselves, with the entire project improving rural accessibility and local capacity effectively acting as ‘impact multipliers’ which had huge positive effects on the lives and economy of the local communities.
The road that was built for the project that Tom discussed was a $30million USD rehabilitation of a 207km stretch of road. Check out some of the great ‘impact multipliers’ that came from it!
- Transport time reduced from 1-2 days to 4 hours after access road
- 20-30% price decrease for certain foods at local markets
- Growth of fresh fish market with a three-fold net value increase for local fishermen
- 320- 350 jobs expected in operation (2,300 when being built).
Check out the video, hear what Tom thinks about impact investing and let us know in the comments below!
Me and Tom are more than happy to respond to any questions you have!
(All data, statistics and information was gathered by myself researching Vesta’s annual reports and investor relations section of the website!)