Global floating wind is set to miss 2030 targets, but a new report from 4C Offshore, a TGS Company, says it’s not too late.
The world’s largest floating offshore wind farm to date, Equinor’s 88MW Hywind Tampen (Norway), started to produce power in late November 2022. However, slow policy and regulatory processes continue to delay the growth of this large-scale renewable energy technology.
The gap between ambition and action must be closed.
These are the findings of the latest report by leading offshore wind market analysts, 4C Offshore, whose study indicates that though the near-term goals of floating offshore wind are struggling to be met, they may not yet be out of reach. November’s Floating Wind Progress Update indicates that targets for 2030 wind production from floating (rather than fixed) wind farms are set to be missed across the globe. Interestingly, rather than being a supply issue, the report notes that lack of progress is often down to administrative delays, with governments failing to follow up on their climate promises with clear policies and permitting and regulatory frameworks to kickstart floating offshore wind in their territories.