S&P Global Ratings’ Luisina Berberian considers the promises and challenges of the offshore wind industry in specialist publication

Writing for Windpower Engineering and Development, Luisina Berberian, Associate Director, explains that enhanced technology is driving down the cost of offshore wind power. In the U.K, for example, where the offshore wind industry is relatively advanced, the cost of energy generation from offshore wind projects has fallen by 32% over the past five years. Elsewhere, China’s offshore wind capacity looks set to increase fourfold by 2020.

Berberian considers that – while progress is clear – the industry still faces significant challenges; the need for larger vessels, a limited number of counterparties with the necessary expertise, complex and long design processes, and a lack of industry standardization.

To read the full piece, please click here.