Big oil and gas producers might finally have found a renewable energy they can fully embrace--largely because it has a lot in common with oil and gas.

Driving the news: Up to 40% of the costs of offshore wind, including construction and maintenance of massive structures, overlap with offshore oil industry costs, a new International Energy Agency report finds.

Where it stands: While the United States has just one (tiny) offshore wind farm, a boom is on the horizon with a slew of companies planning big projects.

By the numbers: About 30% of the leases that the Interior Department has so far auctioned for future U.S. offshore wind farms are tied to the oil industry (Equinor and Shell), according to BloombergNEF data.

Why it matters: These companies have deep pocketbooks and global reach. If they make big bets on offshore wind, which accounts for just 0.3% of global electricity today, the growth of this carbon-free energy source could exceed current expectations.

The big picture: Big oil and gas companies are under pressure from shareholders, lawsuits and the public to more readily acknowledge their role fueling climate change and more fully embrace a global, albeit uneven, transition to cleaner energy sources.

Between the lines: An increasing trend among these companies is to buy stakes in separate developers already focused on clean energy, such as solar and electric vehicle charging.

Go deeper: Troubles lurk for Americas emerging offshore wind boom

Go here to read the rest:

Why some in Big Oil are looking to go big in offshore wind - Axios