The global energy transition driven by Renewables will have significant geopolitical implications that will reshape relations between countries and lead to fundamental structural changes in economies and society. The energy transition will ultimately move the world in the right direction by addressing climate change, combating pollution, and promoting prosperity and sustainable development.
The transition will generate considerable benefits and opportunities, that will strengthen the energy security and energy independence of countries, promote prosperity and job creation, improve food and water security, and enhance sustainability and equity.
Industrial Shift to Renewable Energy
- Have emerged as the fastest-growing energy source;
- The main renewable energy sources are bioenergy, geothermal, hydropower, ocean, solar and wind;
- Wind and solar accounted for more than half of new power generation capacity in recent years;
- Renewables will continue to penetrate the global energy mix with Solar and Wind generation expected to increase by 50% and 13% respectively, from 2019 to 2024;
- Renewables, in combination with energy efficiency solutions, now form the leading edge of a far-reaching global energy transition;
- An energy transformation driven by renewables could bring changes just as radical in their scope and impact on oil wealth.
Greater Offshore is well-positioned to lead this transition of renewable energy and services, in realizing the abundant resource potentials in the energy industry.
