Energy Economics - Hornsea 2 becomes fully operational

Here is an important glimmer of hope during the energy crisis. Hornsea 2 - the world's largest off-shore wind farm has become fully operational.

Situated 55 miles off the east coast of Yorkshire, Hornsea 2 can generate enough electricity to power about 1.3 million homes - that's enough for a city the size of Manchester.

Owned and operated by the Danish renewable firm Orsted, Hornsea 2 can provide 1.4GW of energy at 57.5£/MW. It is an important component of the drive to increase affordable renewable capacity at scale and help meet the government's net zero target.

The sheer scale of the facility is breath-taking - it spans an area the size of 64,000 football pitches. It comprises over 160 turbines each twice as tall as Big Ben.

Here is a quick video on the construction process. One important aspect is the positive multiplier effects from this investment in renewable capacity. The project has created many new, well-paid jobs in a region that has suffered long-run structural decline in the fishing industry.