Europe can still consolidate its 30-year lead in offshore wind, but the onus is now on policymakers to put in place the regulatory frameworks that will nurture the required investments in grid networks, according to the head of Spanish renewables giant Iberdrola.

While extolling the European renewables industry for “demonstrating, proving and leading” offshore wind over three decades, Iberdrola executive chairman Ignacio Galan acknowledged that the sector has faced headwinds due to rising costs, and argued that governments need to respond.