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 Nipper told Reuters in an interview ahead of the conference Reuters Events: Global Energy Transition. Major international oil firms, including Europe’s biggest Shell, BP, Equinor, and TotalEnergies, have accelerated investments and development of offshore wind both in Europe and in the United States as they plan to boost their renewable energy portfolios in their net-zero emissions commitments. Norway’s Equinor says it is “determined to be a global offshore wind […]