Offshore wind projects are taking off as technology improves and costs fall. For example, in the UK, where offshore wind power generation is highly advanced, the cost of energy from offshore wind has fallen by 32% in the past five years. However, there is vast untapped potential elsewhere. With more than 4,200GW of offshore wind energy technical potential in the U.S. alone, the North American offshore wind industry is still relatively nascent.
Luisina Berberian, Associate Director, Infrastructure Finance Ratings Group, S&P Global Ratings, talks to Energetica India, about the ongoing boom in offshore wind projects globally. She also considers what kinds of challenges still exist for these projects, and where S&P believes the global wind offshore industry may move over the next 5-10 years.
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