Britain’s offshore wind industry is running out of puff
Story by Matt Oliver, Szu Ping Chan • Yesterday 7:00 AM
The offshore wind industry has long been the poster child of Britain’s push into green energy.
Championed by politicians as a controversy-free alternative to onshore wind and solar farms, the Government wants offshore wind capacity to surge from 13 gigawatts today to 50 gigawatts by 2030.
“Offshore wind provides a secure and resilient source of energy,” Grant Shapps, the Energy Security Secretary, told MPs last month. “And we are already global leaders.”
A string of major projects are under threat from spiralling costs, sclerotic planning rules and shrinking subsidies. Industry sources warn that it risks tilting the economics into negative territory. “Things are very hard out there right now,” one source says.
https://www.msn.com/en-us/money/markets/how-britain-s-offshore-wind-industry-ran-out-of-puff/ar-AA1d07VP?ocid=msedgntp&cvid=f856a70ca192431590502c5f6e8496f4&ei=37
