Higher prices for steel, labor and debt financing have raised the cost of developing a wind farm by almost 40% since 2019, The Wall Street Journal reports. Developers’ struggles are having a knock-on effect on the turbine makers that supply them, including Vestas, GE and Siemens Energy. The latter’s wind unit, Siemens Gamesa, lost $4.7
Why the cost to develop offshore wind power is on the rise
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