NEWS COMMENTARY

Floating wind to reach 70 GW by 2040

Published:
July 15, 2020
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A new summary report from Carbon Trust forecasts floating wind's capacity to reach 70 GW by 2040. Most of this growth is expected to occur in Asia (31.8 GW) and Europe (28.2 GW), followed by the U.S. (9.8 GW). Floating wind has seen a sharp gain in momentum during the past five years, reaching a cumulative capacity of 73 MW. While most of these projects have been single-turbine demonstrators and pilots, the next decade will see a transition toward pre-commercial and commercial projects, which will be key for reducing the elevated capex of the technology. Clients should monitor developments in Asia (particularly Japan and South Korea) and Europe, and expect parallel innovations related to lifting solutions or dynamic export cables. 

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