Offshore wind: Challenges and opportunities in an uncertain world

Offshore wind: Challenges and opportunities in an uncertain world

The offshore wind industry has experienced significant growth of late and is expected to continue to grow, driven by the combination of a low cost of capital, technology improvements and decreasing construction costs. However, there are several challenges to overcome, including the uncertainties around cost of capital, impact of technological innovation and a tight labour market. CRA consultants recently conducted an analysis of these factors in the context of the current market and assessed the potential implications for new offshore wind projects.

Our analysis concludes that the long-term prognosis for offshore wind costs is a positive one. However, uncertainties on the availability of larger wind turbines mean investors should expect short-term fluctuations in cost trends. Download the full piece below.

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