Offshore wind is a solid long-term investment despite current project disruption, analysts say, with the renewable energy sector still seeing growth as spending is cut on fossil fuels.

Energy demand destruction due to the coronavirus outbreak has hit both oil and gas projects and renewables, as low electricity prices combined with supply chain issues and acreage auction delays have slowed down solar and wind schemes.

Compounding matters are weaker currency rates against the dollar that have raised equipment costs.

However, renewables such as wind and solar are the only energy sources set for consumption growth this year while demand for coal, oil and gas is set to fall, according to the International Energy Agency (IEA).