Analysis suggests that more than 20 countries are ready to develop floating wind in the short term with many others to follow (source: Principle Power)
A report produced by OWC in support of the ORE Catapult’s Floating Offshore Wind Centre of Excellence has identified 54 potential floating wind markets
OWC principal consultant Craig Brown said, “Floating offshore wind will be critical to offshore wind’s role in the future energy mix, but it alsobrings its own challenges and opportunities. Not all offshore wind markets are ready or suitable for floating wind yet. This study provides a blueprint of global expansion, identifying the markets to watch in terms of short-term or long-term readiness.”
OWC screened more than 240 territories for their potential readiness for the development of floating wind. Each territory was assessed against minimum technical thresholds such as coastal access, offshore wind resources and bathymetry, and by additional socio-economic filters to support investments in commercial scale floating offshore wind.
Against this criterion, the report narrowed the list of potential floating wind markets to 54 territories, which pass all thresholds. After that, all 54 territories were evaluated in terms of their short-term or long-term readiness for commercial floating offshore wind development based on 11 criteria in three categories: technical resource and policy drivers; commercial investment landscape; and floating offshore wind market facilitators.
22 countries in Europe, the Americas and the Asia Pacific region fall into the category for short-term development of floating offshore wind, in the period of 2022-2035. Another 32 fall into the long-term category from 2035 to 2050, including countries in Africa.
ORE Catapult head of floating wind Ralph Torr said, “To support 2050 net-zero objectives, floating wind capacity will need to grow exponentially. This study provides an insight into the where, when and how floating offshore wind can develop to become a global industry, and hence plays a critical role in delivering a global net zero.
“The study pinpoints the leading markets to deliver on a possible 10 GW by 2030 and identifies how these markets can pave the way for widespread deployment across the globe in the 2030s and 2040s.”
