03 Oct, 23

Offshore Wind Industry Hits Rough Waters Amid Rising Costs

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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. “If this turns into a prolonged pause of projects then without a doubt a lot of the 2030 renewables goals will be under pressure,” Jon Wallace, an investment manager at Jupiter Asset Management, was quoted by Reuters this week. The turmoil throughout the…

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