Investment in the US offshore wind power industry is on track to eclipse that going into the country’s offshore oil & gas sector within five years as the turbine build-out off its Atlantic seaboard grows to 20GW by 2030, according to new research from Rystad Energy.
Annual capital expenditure in the fast-emerging new energy sector could surpass $15bn “by the mid-2020s” to underpin the 6GW of projects rubber-stamped for development, while spending on offshore oil & gas is forecast to come in at $14.8bn
