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Global wind power outlook takes hit from US weakness, China slowdown - WoodMac
The global wind power sector will add less capacity in the next decade than previously expected due to financial trouble in the U.S. offshore wind industry and sluggish approval and project execution in China, consultancy Wood Mackenzie said on Tuesday. Orsted, the world's largest offshore windfarm developer, energy giants BP and Norway's Equinor have booked hundreds of millions of dollars worth of impairments on their U.S. offshore wind power portfolios, citing spiralling financing costs and supply delays. Wood Mackenzie cut by 29 gigawatts (GW) its forecast for global wind power capacity by end-2032, downgrading ... (full story)