Mainstream’s offshore business will continue to develop existing project opportunities for bottom-fixed and floating wind in markets such as Norway, Sweden, Japan, South Korea, Vietnam, Ireland, the UK and the US, while exploring opportunities in new markets.

The spot price of Brent crude oil averaged $71 per barrel (b) in 2021, and we forecast the Brent price will average $104/b in 2022 and $94/b in 2023.

Hydrogen is becoming a more versatile fuel, however, and is receiving interest in energy storage, as a transportation fuel, as a fuel for electricity generation, and as a fuel for heating.

Green means the hydrogen has been made using electricity and from renewable sources. But as with electric cars, the environmental footprint is determined by the power mix carbon intensity if it is connected to the grid.

US Energy Information Administration reports a capacity factor of 25% for solar generation.

Cuba had 1,198 MW of installed renewables in 2020, which accounted for 18% of the nation’s total energy capacity.

The Vidar and Poseidon projects, located off Sweden’s west coast near Gothenburg, will primarily consist of floating wind turbines and will be able to generate 10.5 TWh/year of electricity when fully developed.

The Philippines has held its first renewable auction, offering a total capacity of 2,000 MW.

The agreements cover a range of sectors, including renewable energy, green hydrogen, pharmaceuticals and e-commerce

Since the wind turbine capacity factors are in the 40-50% range, their annual potential output is typically half, or less, of the annual potential output of a conventional generator of the same rating plate capacity.

Updating Australia's 2030 emissions reduction target honours an election promise

The surge in electricity supply did little to ease rising prices that are being driven higher by climbing gas costs as Russia cuts some flows to Europe.

Investment in electricity generation in India has rebounded from its slump during the COVID-19 pandemic, with 15.5 gigawatts (GW) of renewable energy capacity – representing an investment of a record US$14.4 billion – added in the past financial year.

The Administration has actually recommended that people buy EVs to avoid increasing gasoline prices. The recent ban on imports of Russian oil will likely further increase gasoline prices, which have already doubled under the Administration.

The purchase would be yet another shot in the arm for Adani, who has been seeking global investors and has committed to spend as much as $70 billion by 2030 across the green-energy value chain.