Equinor, based in Norway, is restructuring its business to combine its renewables, energy storage, and gas-to-power portfolios into a new power-focused unit named PWR. The company aims to enhance its competitiveness and value creation in the power market, anticipating a surge in electricity demand globally. The CEO highlighted the strategic move to deliver high returns and drive disciplined growth in power production. The rise in electricity consumption, forecasted at 4% annually until 2027, is attributed to expanding data centers, increased electrification, and industrial sector growth. Equinor's expansion includes offshore wind projects in the U.K, Poland, and the U.S., alongside investments in battery energy storage and power projects. In the renewable energy sector, Matrix Renewables has entered the UK battery storage market, planning significant investments for additional generation and storage capacity. Nel Hydrogen and HydePoint have partnered to scale green hydrogen production in challenging environments, while Honeywell launched AI-enabled technology to enhance green hydrogen production efficiency. Furthermore, Sembcorp and BPCL have joined forces to explore renewable energy and green hydrogen projects in India, combining their expertise to drive sustainable energy initiatives. These developments reflect the industry's focus on meeting increasing electricity demand through innovative solutions and strategic partnerships.