The move into offshore wind by certain oil majors has given rise to concerns that a potential bubble is developing. Further, some of the more traditional players in the offshore space may be out-priced and/or crowded out as a result, with Ørsted, for example, unable to acquire any development interests in the UK's Fourth Licensing Round despite being a long-standing participant in the sector. The ripples created by the new entrants may also drive out the more financially conservative investors such as pension or infrastructure funds.