The International Energy Agency’s first Offshore Wind Outlook 2019 indicates a 1 trillion USD industry opportunity by 2040 and the chance to be one of the top power production technologies across the globe
Offshore wind already has a strong foothold in Europe with close to 18.5 GW installed capacity, and global potential to reach more than 100 GW by 2030. Of this, floating offshore wind is estimated to constitute 10% of the market, potentially powering 12 million homes in 2030.
Through larger wind turbines, better design and streamlined operations, costs are decreasing while efficiency is increasing. We believe that offshore wind, over time, increasingly will become commercial without support schemes.
We believe floating offshore wind is the next wave in renewable energy and are excited about the possibilities that this new technology unfolds.