ANNOUNCEMENTS
This Paper investigate the market positioning of offshore renewable energy in the European region and generates data-based insights to support study objectives. As Offshore wind market continues to expand, it encounters risks and opportunities which are discussed thoroughly in the paper. Risks includes regulatory and policy uncertainty, construction and operation challenges, grid integration issues, financing and investment risks. On the other hand opportunities arise from the decarbonisation of renewable energy targets, job creation and economic growth potential and technological advancements. This paper is based on secondary research providing a detailed overview of trends in the European offshore renewable market. Secondary research is conducted through an in-depth study and content analysis of published reports, academic papers and research articles, reports and policy documents.
Challenges in permitting and leasing emerges across the three primary markets in the European region, reflecting a broader trend observed in Europe. Policy interventions are identified as a crucial enabler to address the risks and challenges faced by the sector. Moreover, private-public partnership is identified to play an important role in building technology and supportive infrastructure. This Collaboration and coordination have its significance as economic headwind puts pressure on supply chain.
This paper provides data-based insights for the potential growth of the sector and considers the risks and opportunities by underlining the trends in three leading nations in the offshore wind development. It examines how the trends in the market can impact investments and ends by suggesting policy level solutions for addressing the risks and leveraging the opportunities.
Key Words: offshore wind farms, energy transition, Renewable energy, wind turbines, decarbonization.
