Global investment in offshore wind projects is soaring – propelled by rising investment in renewables, lower market costs, greater climate change awareness worldwide, and developments in technology. With Europe still standing tall as the regional world leader in offshore wind power, other regions are fast recognising the benefits.
While these regions try to emulate the technological breakthroughs seen in Europe, there remains a plethora of market challenges that must be addressed.
Writing for Energy Voice, Luisina Berberian, associate director, Infrastructure Finance Ratings, S&P Global Ratings, considers the technological, regulatory, and geographical limitations to offshore wind power growth, and how the industry as a whole will overcome them.
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