Steel demand spikes may delay UK offshore wind projects due to reliance on foreign steel.

A report by Newton consultancy warns that potential spikes in steel demand could delay UK offshore wind projects. With an expected rise in demand, British projects may need to rely on foreign steel unless UK production increases, which appears unlikely due to Port Talbot steelworks closure plans. If the UK turns to the international market during a time when other countries are also building wind farms, global steel prices could surge, affecting project delivery.

March 25, 2024
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