Specifically, the cost of floating wind will fall approximately 70% by 2050 to a global average of 40 EUR per MWh. As the cost of the technology falls, they believe that new opportunities will be created as companies in the offshore wind, oil & and gas and maritime industries shift their portfolios to become less dependent on fossil fuels.

Moreover, it is forecasted that floating wind will have a key role in the industry's decarbonization goals, as the first successful prototypes and demonstration projects, floating offshore wind is now taking the first steps in commercialization.

As part of the in-depth analysis of the global energy landscape published in its recent Energy Transition Outlook 2020, they foresee 2000-fold growth by 2050 predicting that floating wind will grow to contribute two percent of the world’s power supply in the next 30 years.

Remi Eriksen Group President & CEO of DNV GL commented that

We know that floating wind is technically feasible. The challenge now is to move rapidly to commercial deployments. There is a wealth of expertise to call on. The know-how from bottom fixed offshore wind, the competences of shipyards, and of oil and gas contractors all broadly align with the technical, logistical and operational challenges of floating wind.

In addition, the report focuses on

  • How floating wind will boost the energy transition
  • How cost reductions can be achieved
  • Developments in key markets
  • How to bring comfort for investors
  • The importance of standards to mitigate risks
  • Solutions for yards to achieve cost-effective floating wind construction
  • The need of digital innovation to handle the technology’s complexity
  • Knowledge transfer from oil and gas projects.

Concluding, to learn more about the report click here.