Ubuntu netplan static IP address

It has been a few years since I last touched a Linux box. Tonight I decided to install an Ubuntu Server and wanted to give it a static IP address. As I went to /etc/network and wanted to edit the interfaces file, I realised that things have changed. Now you configure the NICs using netplan. So I fired up putty after reading some examples on how to do this and got hit by this error when trying to apply the configuration: