Europe’s Offshore Wind Industry Faces Financial Turbulence

‘It is all a massive case of buyer’s remorse because [of] excessive optimism about future costs five years ago,’ an expert says.
Europe’s Offshore Wind Industry Faces Financial Turbulence
Kayakers paddle on the Mersey Estuary near the Burbo Bank Offshore Wind Farm in Liverpool, UK, on Aug. 4, 2021. Christopher Furlong/Getty Images
Owen Evans
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Funding challenges and rising costs are slowing down Europe’s offshore wind industry, with major players scaling back investments amid financial strain.

Despite record public and private investment, strong government support, and locked-in climate laws, analysts say the sector is struggling with supply chain pressures and rising interest rates, which are undermined by underpriced contracts from previous years.

Owen Evans
Owen Evans
Author
Owen Evans is a UK-based journalist covering a wide range of national stories, with a particular interest in civil liberties and free speech.