Offshore wind: Both challenges and enormous opportunities lie ahead

The offshore wind industry has faced significant headwinds in the past couple of years, with most of the negative effects tracing their origin back to the start of the COVID-19 pandemic and the geopolitical turmoil caused by Russia’s aggression against Ukraine.

This has led to supply chain instability and cost inflation which has resulted in a number of projects being postponed and even canceled, most notably in the United States, with the latest example being bp and Eqinor’s Empire Wind project in New York.

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