Clean Energy for All ODS7

 Green, sustainable and affordable energy for all as a
substitute for fossil fuel consumption ODS7

 Arturo J. Peñas Jiménez MSC

Senior Mining Engineer

Oil and Gas Specialist

The world is moving towards ODS number 7 with some
encouraging signs that energy is becoming more sustainable and available.
Access to electricity in the poorest countries is accelerating, energy
efficiency continues to improve and in the electricity sector, renewable energy
is achieving remarkable results.

Antonio Gutérres, UN Secretary-General, has pointed
out during the emergency of COVID 19 the importance of access to this clean
energy so that it is responded to in three ways:

– Giving priority to supplying energy to health
centers and first response teams.

– Keep vulnerable consumers connected.

– Increase the production of reliable, uninterrupted, and sufficient energy to prepare for a more sustainable economic recovery.

 On the other hand, hit by the recession caused by
COVID-19, it is likely that the fossil fuel (oil and gas) market will not
rebound to last year’s level of activity until 2023. However, their producers
could diversify some of their traditional capacities and replace them up to 40
percent of 2019 revenues by serving renewable markets.

 Many services provided by these players will be
difficult to carry out in the context of energy transition operations (fracking
and drilling machinery). However, companies involved in engineering,
procurement, construction, and installation services will find it easier to
apply their “know-how” to the green shift.

 In terms of market opportunities, most of these
companies are looking to expand into low-carbon segments, meaning technologies
or services that aim to reduce or prevent emissions from oil and gas extraction
and production. This can be done by offering more efficient operations and
digital solutions.

Another emerging market within the energy transition
is clean energy infrastructure, where suppliers can provide services to support
blue and green hydrogen infrastructure, carbon capture and storage, or energy
storage in general. This is a market where engineering companies and equipment
manufacturers will find great opportunities for growth.

 A third option within the energy transition is to
provide for the comprehensive development of renewable energy generation
operations, such as through the development of solar power plants, offshore and
onshore wind farms, and geothermal energy. The solar energy supply chain is
highly fragmented, however, the wind market offers great potential for offshore
contractors to support the development of offshore wind energy.

In terms of growth opportunities, the clean energy
market shows rapid growth. The installed capacity of all the world’s
utility-scale renewable energy assets has doubled every five years since 2010
and will reach almost 1000 gigawatts (GWAC) by 2020, adding 600 GWAC of onshore
wind capacity, 284 GWAC of utility capacity, and 34 GWAC of offshore capacity.
By 2025, this number is expected to grow by at least 50 percent to 1500 GWAC.

                                   Arturo
J. Peñas Jiménez

Senior Mining Engineer

Oil and Gas Specialist

CORONAVIRUS COVID-19 INFORMATION 

 Translated with www.DeepL.com/Translator (free
version)