"US Gulf's Offshore Wind Auction Ignites Green Hydrogen Drive"

The U.S. Gulf Coast, known for its oil and gas industry, is set to hold its first-ever offshore wind auction, with companies eyeing the sale as an opportunity to fuel a new green hydrogen supply chain for the region's industrial corridor. Green hydrogen, produced with renewable energy, can help decarbonize heavy-emitting industries and transportation. While the Gulf Coast lacks state mandates for renewable energy procurement and has lower wind speeds compared to the Northeast, tax credits for hydrogen in President Biden's Inflation Reduction Act have made the proposition of pairing offshore wind with hydrogen production more attractive. The auction is part of the Biden administration's efforts to reduce power sector emissions and combat climate change.