As China prepares to peak its carbon emission before 2030 and achieve carbon neutrality before 2060 as recently announced by President Xi Jinping and Germany readies its participation in Europe’s plans to become climate neutral by 2050 via $572 billion in stimulus funds, the question of how best to foot the bill to promote new ambitious government targets for renewable energy will be back front and center.
Read MoreIn 2022, the view from the windows of the hourly flights between Washington DC and Boston will change as wind machines appear off the northeast coast. The excitement around offshore wind intensified this week as the oil major, BP purchased a 50% share in two proposed windfarms off New York and Massachusetts from Norway’s Equinor, a giant energy company turned wind developer, in a $1.1 billion deal. This sale demonstrates the significance of the offshore wind sector (OSW) as energy giants like Equinor and BP recognize the future importance of large-scale renewables.
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