Challenges in the Global Offshore Wind Industry
The global offshore wind industry is facing significant challenges, including rising costs, policy instability, and supply chain disruptions.
According to industry expert Alex Kimani, a veteran finance writer and researcher, the sector has been experiencing growing pains over the past couple of years.
These challenges are increasingly forcing companies in the space to abandon projects and undergo strategic restructuring as the momentum for offshore wind and other nascent clean energy industries, such as hydrogen, wanes.
The industry's struggles are attributed to supply chain constraints, policy volatility, and economic headwinds, threatening the growth of a power segment that is expected to become a dominant wind energy source in many regions.
Author's summary: Offshore wind industry faces rising costs and policy instability.