Several large-scale offshore wind farms are planned in the next five years in the North Sea. The area not only has plenty of ageing platforms and pipelines that could host production and transmission of hydrogen cheaply, but also salt caverns to store it at low cost. Rystad Energy has therefore looked at the economics of blending green hydrogen production with offshore wind development. This hybrid approach offers promising elements, but the high costs – at least for now – remain a show-stopper. Rystad Energy’s modelling is based on combining a green hydrogen project with an offshore wind farm of 1 gigawatt (GW), ... (full story)