Research
Sector Report

Q4 2020: New frontiers in green energy

  • Multi Asset
  • Utilities
  • Global

Among its myriad consequences for the world’s economy, COVID-19 has demonstrated the fragility of the energy industry. As oil and gas prices tanked, and numerous new projects became untenable, attention turned to renewables for providing a stable source of energy. Some commentators believe that the conditions created by the pandemic could accelerate uptake of green energy, having been supported by favourable policies and ethical investing. While many eyes may have been on solar, Third Bridge Forum has taken note of the strides made in other segments and new green energy trends, namely wind power and geothermal. 6

Offshore wind’s potential is starting to be realised. With the EU aiming to install 300 GW of offshore wind capacity by 2050, there is “no turning back” for this source, commented a former head from Ørsted AS. Relatively more near-term, by “2030, the EU target is 60 GW and the UK target is 40 GW”. The specialist pointed out that, with Brexit taking away the UK’s previous contribution to the EU’s capacity, “innovative solutions” are a necessity. Denmark’s artificial wind farm is one example of what these could look like. The project, with one cluster of turbines situated on a natural island in the Baltic Sea and another on an artificial island in the North Sea, will provide a total of 5 GW and already has plans to be expanded in future.

Read More

Submit your email address for full access to our Research content.