Setbacks suffered by some offshore wind projects last year may have resulted in a “shifting to the right” on pipelines but overall global ambitions for the sector remain “largely unscathed”, according to the latest quarterly global outlook report on the sector produced by TGS - 4C Offshore.
The impacts of soaring supply chain and capital costs could be seen in decisions to cancel some high profile US East Coast projects — as well as Norfolk Boreas in the UK, since offered a new lease of life by RWE — but 2023 was still a record year for offshore wind investment, with projects totaling 12.3GW
