Britain's offshore wind plans 'hit by soaring costs and delays'

Across Europe, wind developers are dealing with a toxic mix of challenges including higher costs for turbines, supply-chain bottlenecks, and international competition.

The UK’s once-booming offshore wind industry faces years of pain, including project delays and possible cancellations, due to soaring costs and higher interest rates.

That’s the view of Per Lekander, chief executive of Clean Energy Transition, a London-based hedge fund that manages €2.4bn in assets in sectors including renewables, utilities, oil and gas.