Governments’ collective target to have offshore wind capacity jump fivefold annually by 2030 is unrealistic and would require $27 billion of secured investment by 2026 if it is to meet that growth in annual installations, excluding China, by the end of the decade, Wood Mackenzie said in a new report on Thursday. Governments in the U.S. and Europe plan to significantly increase offshore wind capacity to boost green energy and reduce dependence on foreign fossil fuel sources. The Biden Administration alone targets to build 30 gigawatts (GW)…
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