Offshore wind: "Geographical priorities will be refocused" (Gunnar Herzig, WFO)

"Everyone would have preferred to see the US offshore wind market develop, but the difficulties it is experiencing are specific to this geography. The industry still benefits from large markets in Northern and Southern Europe, as well as growing opportunities in Asia and potentially Latin America and Australia. The industry will therefore be refocusing its geographical priorities. This shows the importance of not being overexposed to any one market," Gunnar Herzig, Managing Director of the World Forum Offshore Wind (WFO), told News Tank on 16/09/2025.

He was reacting to announcements by the administration of Donald Trump, President of the United States, to halt offshore wind projects or withdraw funding for US offshore projects.

"A difficult period lies ahead for the entire industry. We have seen two main factors: a sharp rise in interest rates, making capital more expensive and therefore financing offshore wind farms more expensive; and, at the same time, due to inflation, a significant rise in the cost of components such as turbines, foundations, cables and others. The cost…