By [email protected] In most industries, a healthy number of original equipment manufacturers (OEMs) can increase competition and cut costs. That may not hold true in offshore wind.
Because offshore wind cost reduction is heavily dependent on experience, it could be an advantage to only have a handful of OEMs, said Jonny Allen, underwriter at the renewable energy insurance firm GCube.
“We’ve seen a wide range of expertise being utilized for offshore wind and that’s produced a very stark contrast in performance,” he said. “For any new entrant to get into offshore successfully, the experience and balance sheet of contractors is going to be absolutely
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