Rystad nods along with developers in ambitious offshore forecast

Rystad Energy has become the latest forecaster to fall into the trap of bumbling along with offshore wind promises in the US, stating an overestimate of capacity to be installed in the next decade. When the reality comes up short, investors need to be aware that Rystad overlooked several key hurdles which will stunt the market in the near-term, before the supply chain is ready to facilitate one of the largest global markets through the 2030s – a period which is beyond the scope of the Rystad report. Rystad has predicted that the US will exceed 20 GW of offshore wind capacity by 2030 – with capital expenditure set to exceed that of the offshore oil and gas industry in…