Global Offshore Wind Industry Faces Challenges in Meeting Targets

Despite its potential to generate substantial electricity near densely populated areas, the offshore wind industry is grappling with increased expenses, supply chain disruptions, and technical issues. These challenges have led major companies to withdraw investments and scale back projects, raising concerns about the feasibility of achieving 2030 offshore wind capacity targets in regions like the U.S. and Europe. Conversely, China is making notable progress, bolstered by strong governmental support and favorable financing conditions. Read more.