The CEO of one of Europe’s biggest power companies said oil and gas groups circling the offshore wind sector will discover “it’s not so easy” to enter an industry that requires huge levels of investment in time, money and expertise.

Ignacio Galán, boss of Spanish group Iberdrola, told financial analysts he is sanguine about the prospect of more competition in the European offshore wind sector, which is seeing increased interest from the likes of Shell, Statoil and Eni.

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