Our society's approach to producing, consuming, and distributing energy is changing due to mounting concerns about global warming and rising CO2 levels in the atmosphere.
• Governments worldwide are formulating regulatory frameworks, increasing their investments in low-carbon technologies to slow climate change, and decarbonizing their economies. An accelerated transition toward renewable energy sources and low-carbon technologies is crucial to our long-term survival.
• In the last decade, the offshore wind sector has experienced significant growth. Numerous nations have recognized the potential of offshore in regions with high, regular winds and initiated the development of large-scale wind farm projects.
• Currently, offshore wind technology is one of the most rapidly increasing renewable energy source. This development will continue, driven mainly by increased investments, technological advancements, and greater supply chain efficiency, which have drastically reduced CAPEX and OPEX across several regions and play a vital role in our transition to a carbon-neutral economy. In addition, increasing private and public spending on the construction and extension of utility-scale offshore wind projects and the continued exploration of viable sites for offshore wind projects will boost the sector's growth.
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