Major nations and businesses are turning to the adoption of renewable energy sources, especially wind energy, as they can supply clean energy, as global energy demand is on the rise. The use of offshore wind energy using cutting-edge technologies has drawn numerous nations and businesses for significant expenditures. In both established markets and nations that are new to offshore wind, the government's obligations are growing quickly, and technology is advancing.
There are more businesses exploring Offshore Wind Market projects, which might come with risks and hurdles such commercial requirements from authorities, challenging project economics, and the need to develop or improve capabilities. Additionally, by utilising technical advancement, makers of turbine equipment have been able to control the increase in turbine cost (USD/kilowatt) and manage the decrease in mass (kilogram/kilowatt), enabling the growth of turbines to reach at least 12 MW.
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