‘Significant’ expansion seen in floating wind over past six month

This brings the sector to the cusp of global commercial growth, Fitch Solutions reported.

Floating offshore wind energy is poised to grow commercially across the globe after it expanded “significantly” over the past six months, Fitch Solutions reported. 

Data from its Infrastructure Key Projects showed that floating offshore wind accounted for 16% of the total offshore wind pipeline with more than 300 gigawatts (GW) of projects in varying stages of development. 

At present, only one project is in the construction phase, whilst two others are in pre-construction. 

Amongst these include the 88MW Hywind wind farm in Norway, and 8MW Siemens Gamesa Renewable Energy wind turbines project, and the 800MW Firefly floating offshore wind project in South Korea.

Norwegian oil and gas firm Equinox, which is behind the Hywind farm, also signed a memorandum of understanding with Korea East-West power for the development of 3GW offshore wind projects in South Korea. 

“This new global spread of projects is drawing in a new class of bespoke floating wind development firmss looking to establish themselves and gain a first-mover advantage,” the report also read.

“These companies are often partnered with established energy firms active in the offshore space.” 


Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


India removes licence requirement to build transmission lines for bulk consumers
The rule applies to those with at least 25 MW of load for inter-state connection and at least 10 MW for intra-state.
NEFIN Group works double time to catch up on projects
CEO Glenn Lim explains how a delay turned out good as the company aims to reach 667 MW of capacity by 2026.
Summit Power International provides vital LNG support to Bangladesh
Without cross-border electricity supply, LNG is needed by a country facing geographical constraints to deploy renewables.