Offshore wind

The areas are expected to have the potential to supply 2.4 GW of clean renewable energy.

This paper assesses the opportunity for an integrated and circular approach to developing the offshore energy sector for the energy transition. It evaluates how offshore wind, green hydrogen production, and heritage oil and gas expertise can be brought together to benefit all sectors to support a viable green hydrogen and wind economy.

Through a swap transaction, the Norwegian major will take over full ownership of the Empire Wind project from BP while the British major will take full ownership of the Beacon Wind project.

The strategy is part of larger interagency effort to promote recovery of the North Atlantic right whale while responsibly developing offshore wind.

The Vineyard Wind 1 project came online on 2 January, while appeals in several lawsuits against it remain pending.

A pilot project will explore onboard carbon capture for container ships, and two heavy-hitters are teaming up to find decarbonization paths in the Asia Pacific region. Elsewhere, wind and solar are on track to pass coal in the race to generate electricity.

Several projects have been scrapped across the US as inflation causes project costs to soar, while projects in Costa Rica and Rotterdam move forward.

The Biden administration’s goal of deploying 30 GW by 2030 was always ambitious; recent challenges make this more difficult to achieve. Addressing some of the industry headwinds is not only important for the 2030 goal, but it will also set the stage for the longer-term industry.

The Coastal Virginia Offshore Wind project is expected to power 900,000 homes, support thousands of jobs, and add 2,600 MW of energy to the grid.

The Biden Administration plans for a maximum of three lease sales in the Gulf of Mexico from 2024 to 2029.