White Paper – Tackling the Cost Inflation Challenge in Offshore Wind

Inflation has been one of the key challenges facing the global economy over the past 24 months and offshore wind has been no exception, grappling with both specific and general inflationary factors. Precise details on the extent of rising prices and their proximate causes have, however, remained somewhat elusive. To address this information gap, Westwood undertook a cost inflation market survey in 1H 2023, engaging directly with industry contacts on key themes. This White Paper presents Westwood’s findings and analysis.

Executive Summary

1. Introduction
2. Measuring Cost Inflation in Offshore Wind
   • The Extent of the Impact of Cost Inflation
   • The Causes of Cost Inflation
3. The Impact of Cost Inflation Offshore Wind
   • Understanding the Impacts of Cost Inflation
4. Looking to the Future
5. Conclusion
6. Annexe
   • Methodology
   • Respondent Profile