The offshore wind industry has faced significant headwinds in the past couple of years, with most of the negative effects tracing their origin back to the start of the COVID-19 pandemic and the geopolitical turmoil caused by Russia’s aggression against Ukraine.

This has led to supply chain instability and cost inflation which has resulted in a number of projects being postponed and even canceled, most notably in the United States, with the latest example being bp and Eqinor’s Empire Wind project in New York.