- Dec 9, 2021 9:15 am GMT
European oil majors are jostling to become offshore wind heavyweights. Building capital-intensive projects at scale in familiar offshore environments, underpinned by guaranteed returns, has proved alluring. But cost inflation and aggressive bidding at cut-throat ‘subsidy-free’ auctions have eviscerated margins. Energy Flux takes a critical look at new research into the sketchy economics of offshore wind for the likes of Equinor, Shell, BP and ENI.
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