We greeted the offshore wind market in the middle of 2023 with much enthusiasm, but headwinds had taken over the stage for the past year. The same inflationary pressure, high interest rates and supply chain bottlenecks that we said are impeding on the near-term prospects of offshore wind last year have manifested themselves in actual cancellations and project delays. Offshore wind developers have taken a pause to review the viability of projects, especially those planned prior to the pandemic.

Download our report to view the overall outlook for the offshore wind market