Europe’s offshore wind expansion is running into a structural supply constraint where the turbine market is becoming increasingly concentrated.
GE Vernova, Siemens Gamesa and Vestas have historically anchored Western offshore turbine supply, but with GE Vernova having paused new offshore wind orders following a series of technical and operational setbacks, Siemens Gamesa and Vestas now account for virtually all turbines available to European developers
Rystad Energy’s analysis of the offshore wind market outlines a sharp increase in per-megawatt…