Floating offshore wind - The quest for scale
8 min read 8 February 2024
Harvesting wind in previously inaccessible seabed areas has many advantages, but there are some obstacles that need to be overcome before we can deploy floating offshore wind at scale. One of the main challenges is the lack of standardisation in emerging technologies. Additionally, significant investment in port infrastructure is required to make deployment feasible.
Fixed-bottom turbines currently dominate the global offshore wind market, but their limitations in deep water make floating alternatives attractive to scale up offshore wind deployment.
Floating wind, forecasted to reach more than 25GW by the mid 2030s, offers numerous advantages, including access to higher wind speeds further out at sea, expanded seabed areas, and reduced environmental impact during installation and operation.
Key players, such as the UK, the US and China, and numerous European countries, are making significant allocations for floating offshore wind projects. But despite the potential, the mass roll-out of floating wind turbines faces technical challenges. These include a lack of standardisation in the emerging technologies around foundation design, as well as supply chain constraints, leading to a relatively high levelised cost of energy.
Overcoming these barriers requires substantial investment, port infrastructure development and policy support. As countries race to achieve their energy transtion goals, floating offshore wind is likely to be a mix of innocation and co-operation.
Download our full report below and get in touch to find out more.
Related Insights
Geopolitics is shaping the future of green homes
Green homes are often discussed through the lens of policies, technologies and consumer adoption. But the reality is that they sit within a much wider system shaped by geopolitics, wholesale markets, supply chains and investor confidence.
Read more
Demand-led SMRs: A 'government-last' model to power industrial growth through privately funded SMRs
Drawing on engagement with over 100 potential investors and deep analysis of UK energy market structures, this report sets out a 'Government-last' approach to SMR deployment.
Read more
Simplification, not suspension: why CS3D still matters for executive teams
CS3D timelines have shifted, but the cost, risk and opportunity remain. Learn why executive teams should act now to manage supply‑chain risk and value.
Read more
Carbon capture heats up in Asia: Will it cool down the planet?
Carbon capture’s rising role in Asia’s energy transition
Read moreRelated Client Stories
Pinpointing the best US counties for renewable development
We built a configurable scoring model that ranked 600+ Southwest Power Pool counties, helping a renewables developer target capital in five weeks.
Read more
National Grid Transmission: Using AI to see risk before it happens
AI-driven FRAME project helps National Grid pinpoint asset risks, combining data and engineering insight to boost resilience and smarter decisions.
Read more
Launching a scalable trading function for a global chemicals leader
Baringa helped a global chemicals company launch and scale a data- and AI-enabled trading function with governance and risk control to grow earnings.
Read more
Driving clean energy momentum with Octopus Australia
How do you bring a complex hybrid project to financial close?
Read moreIs digital and AI delivering what your business needs?
Digital and AI can solve your toughest challenges and elevate your business performance. But success isn’t always straightforward. Where can you unlock opportunity? And what does it take to set the foundation for lasting success?