Energy
Inflation-hit offshore wind industry still ‘recalibrating’, says Orsted executive
Duncan Clark, head of Orsted’s operations in Britain and Ireland, said governments needed to respond to the inflation crisis hitting the sector
The offshore wind industry is “recalibrating” and going through an “adjustment phase” after higher interest rates and soaring inflation undermined the business cases for projects all over the world, a senior executive in Orsted has said.
Duncan Clark, head of the energy giants operations in Britain and Ireland, said governments needed to be more agile to react to changing market conditions when holding state-backed subsidy auctions to incentivise new offshore wind developments.
“The offshore wind ...
