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Floating offshore wind: Where does the industry stand?

As economies ramp up their commitments to decarbonize and transition to net-zero, many are turning to renewable energies like floating offshore wind farms to support global action. In addition, the recent geopolitical tensions compelled several European countries to hasten their transition away from fossil fuels. As a result, the potential of floating offshore wind is in the spotlight.

The recent urgency for decarbonization undoubtedly plays a leading factor in setting this pace for growth. In fact, in 2020 the Global Wind Energy Council forecasted that the floating offshore wind market would grow from 17 MW in 2020 to 6,500 MW by 2030.

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