Top Offshore Wind Firm: Big Oil’s Foray Into Green Energy Could Hike Prices

The biggest developer of offshore wind farms in the world, Denmark-based Ørsted, is concerned that the race of the biggest oil companies to enter offshore wind could lead to spikes in seabed acreage prices, which would undermine project competitiveness and the speed of technology development. “Our concern is that if that inflation continues it will eventually come to the disadvantage of the speed with which we accelerate the technology or the competitiveness of the technology,” Ørsted’s chief executive officer Mads…