Unpacking Big Oil’s risky bet on German offshore wind
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Description
The hefty premiums paid by BP and TotalEnergies in Germany’s latest offshore wind auction reflect the value these companies place on diversification – but do the economics stack up?
Competition for offshore concessions has been fierce, but the sector is also under extreme cost pressure from stressed supply chains and rising inflation.
S&P Global Commodity Insights’ news editors Henry Edwardes-Evans, Andreas Franke and Alex Blackburne discuss these issues with S&P Global analyst director colleague Coralie Laurencin.
Explore our interactive Renewable Energy Price calculator
Related price assessment:
WDETF00 - German Offshore Wind Renewable Capture Price
Related stories:
Germany sells four offshore wind concessions for $14 bil to BP, TotalEnergies
Germany awards 1.8 GW offshore wind concessions for Eur784 million
Offshore wind industry weighs consequences of 'seismic' German auction
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