Offshore wind has become a dominant energy resource within the renewable energy market, but offshore wind has been relatively limited to shallow waters, restricting how many nations can harness its true potential. This is rapidly changing due to the rise of floating wind technology. This market consists of turbines fixed to buoyant structures and anchored to the seabed. Floating wind can be developed in seas 300 metres deep, maybe more, compared to conventional turbines, which are limited to around 60 metres.

With the ability to produce wind in deeper waters, the technology is due to bring wind energy to new and emerging markets. Floating offshore wind is a critical part of the battle against climate change. Its ability to enter new markets inaccessible to fixed technologies and reach new areas with high wind potential place floating offshore is a key solution.

Which nations are driving the floating wind industry?

According to figures from the Global Wind Energy Council, Europe is currently a global leader in offshore wind. The region fell behind the US and China in 2022 but remains in prime position for floating wind, making up nearly 80% of new additions in the last year. In total, this represents 208 MW of capacity, equating to 88% of global installations. The majority of this comes from small demo projects, but many areas are starting to look at accelerating production to a commercial level.

France is on a path to creating the first commercial floating wind farm. The Pennavel project will be constructed off the coast of Brittany and is due to be commissioned by 2031. It’s expected to produce 250 MW, enough to generate power for 450,000 people each year.

As a comparison, the UK intends to achieve 5 GW of production by 2030 and is moving forward with additional government support for these projects. Norway and Ireland are two other nations accelerating their focus on floating wind.

Elsewhere, Asian countries are exploring the floating wind market. Last year, the Japanese Government confirmed four areas for trial projects, and the Marubeni Offshore Wind Development Corporation confirmed a demo project with two turbines located at depths of 400 metres. South Korea has also been highlighted as a potential area and is building what will be considered the largest floating wind farm once complete in 2028.

The implications of floating offshore wind for coastal communities

Developing floating wind will not only enable the production of green, local energy, but it also can support and regenerate coastal communities. The Pennavel project for example, has committed to boosting jobs in the region and is investing in economic development projects, cultural activities, events and training programs.

Floating wind can provide added investments in ports, which are needed for all offshore wind projects and are especially critical for floating wind as most construction happens inside the port. Compared to a bottom-fixed project, approximately 80% of the project is at sea. Floating wind is roughly the opposite.

The UK is exploring the social and economic value of the energy in floating offshore wind because, in areas like South Wales, you have port-industrial towns and neglected port areas that need a boost and added investment. By investing in these ports, you can provide social benefits and jobs to these areas.

Aside from physical infrastructure, like ports and grid connections, floating wind required government assurance. One of the reasons the UK is considered a strong leader is because it has been clear and transparent about its goals and support for projects. This clarity has given investors direction and an understanding of the potential investment pipeline.

Governments must also consider the economic challenges and how these influence projects, as inflation and other market disruptions increase project costs. The Global Wind Energy Council has adjusted some projections due to these factors, but experts anticipate growth to be rapid once the industry overcomes these challenges.

Floating Wind is about harnessing the opportunity and recognising how you can be part of this exciting period of accelerated growth.

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