Offshore Wind Industry Slows Down
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offshore wind farmsReuters
•Global offshore wind industry poised to miss big targets as obstacles mount
79% Informative
Offshore wind farms now have a global average cost of $ 230 per megawatt-hour (MWh) up 30% to 40% in the past two years .
Costs, project delays and limited supply chain investment are hobbling installations.
The technology forms a big part of government strategies to advance renewable energy and decarbonize the global power industry.
China became the global leader in offshore wind in 2022 .
Beijing has supercharged its industry with subsidies and low financing costs.
Most of the sector's players are state-owned, and have access to locally-made offshore wind components.
Japan has set ambitions of building up to 45 GW of offshore wind capacity by 2040 .
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