The offshore wind industry is grappling with significant challenges including supply chain delays, rising costs, and design issues, threatening the realization of 2030 global renewable goals.
Start Trading CFDs Over 2,200 Different InstrumentsStart Trading CFDs Over 2,200 Different Instruments1 day4 daysHaley Zaremba is a writer and journalist based in Mexico City. She has extensive experience writing and editing environmental features, travel pieces, local news in the…
Offshore wind's unparalleled capacity offers a potential energy output multiple times greater than current levels, underlining its importance for global climate goals.The offshore wind industry is in crisis. Already this year, projects across Europe and the United States have been delayed or shelved thanks to a “perfect storm of supply chain delays, design flaws and higher costs” just when added clean energy capacity is needed the most.
This extreme price hike doesn’t just spell trouble for potential future offshore developments; it’s also a big problem for deals that have already been inked. Any long-term development contracts signed before prices skyrocketed must either comprehensively re-negotiate those deals or shelve the project altogether. took place against the backdrop of this crisis last month in Aberdeen, Scotland.
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