Offshore wind is forecast to grow at an 11.1% Compound Annual Growth Rate (CAGR) between 2017 and 2022, compared to single-digit growth rates for onshore wind, according to a market research firm Navigant Research. Regulatory changes, technology improvements, such as an increase in turbine blade rotor diameters exceeding 160 meters, and cost reductions are driving market growth. China, UK, the Netherlands, Denmark, Germany, and Belgium are leading adoption. How much interest does your firm have in off shore wind power generation? What do you see as its pluses and minuses?
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