The promises and challenges of the offshore wind industry

By Paul Dvorak Falling costs and technological improvements are driving a boom in offshore wind power projects worldwide. Still, the industry has its share of challenges.
Luisina Berberian, Associate Director, S&P Global Ratings
Luisina Berberian
Enhanced technology is driving down the cost of offshore wind power. In turn, this is having a positive effect on new offshore wind power projects. In the U.K, for example, where offshore wind power generation is advanced, the cost of energy from offshore wind has fallen by 32% over the past five years. Elsewhere, China’s offshore wind capacity looks set to increase fourfold by 2020.
Yet, while progress is clear, the industry

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