Offshore

Big oil is starting to challenge the biggest utilities in the race to erect wind turbines at sea. Royal Dutch Shell Plc, Statoil ASA and  Eni SpA are moving into multi-billion-dollar offshore wind farms in the North Sea and beyond. They’re starting to score victories against leading power suppliers including Dong Energy A/S and Vattenfall AB in competitive auctions for power purchase contracts, which have developed a specialty in anchoring massive turbines on the seabed. The oil companies have many reasons to move into the industry. They’ve spent decades building oil projects offshore, and that business is winding down in some areas where older fields have drained. Returns from wind farms are predictable and underpinned by government-regulated electricity prices. And fossil fuel executives want to get a piece of the clean-energy business as forecasts emerge that renewables will eat into their market.
Hydropower

While the EU has seen a remarkable increase in offshore wind, a Swedish project in the Baltic Sea has been cancelled due to a growing threat from Russia. What would have been a gigantic two-nuclear-plant-sized (2 GW) offshore wind farm in the Baltic Sea; Blekinge Offshore AB was denied its permit in December due to recent heightened tensions in the region.
Hydropower

The barriers to offshore wind are formidable. Yet, after many years of delays and cost increases, there are signs of progress. Offshore wind bids coming out of Europe suggest that steep cost reductions are at hand; the most recent of those bids, for a 350 MW near-shore project off the coast of Denmark, came in at a record-low of just $67 per MWh. These and other developments hold promise for further cost reductions in the years and decades ahead.