More than 50 companies and organisations working in floating wind have set out an industry action plan aimed at supporting the commercialisation of the technology and developing floating wind in countries with deep coastal waters. The initiative aims to address barriers to floating wind deployment and improve collaboration across the sector. Its action plan focuses on demonstrating the value of floating wind and reducing costs, scaling the supply chain, and improving access to finance and insurance.
The Global Wind Energy Council (GWEC) convened the Floating Wind Industry Accelerator (FWIA) in December 2025 to bring together developers, manufacturers, suppliers, investors, insurers and technical experts. Following ten months of consultation across the global value chain, the participants agreed the FWIA Action Statement for Accelerating Floating Wind.
The plan is intended to support first-mover projects in reaching final investment decisions before 2030, while helping the sector develop through the 2030s and beyond.
Countries including the UK, France, Norway, Spain, Portugal, South Korea and Japan have established floating wind targets as part of their national offshore wind strategies. Together, these targets amount to around 90 GW of installed capacity by 2045. Meeting them will require continued cooperation between industry and governments.
The FWIA action plan calls on governments to turn stated ambitions into investable project pipelines, supported by credible auction schedules, appropriate revenue frameworks, and timely decisions on ports, grid connections and consenting. These are identified as important conditions for developing floating wind projects and enabling the industry to reduce costs.
The action plan sets out three main areas for governments and industry to address:
1. Set clear floating wind targets and deliver effective auctions: provide long-term visibility to support private investment, develop coordinated plans to improve investor confidence, and use auction criteria that take account of project deliverability and bankability.
2. Create conditions for the first commercial-scale projects: ensure revenue mechanisms reflect project costs, help developers manage changes outside their control after auctions, establish clear timelines for permitting and grid connections, and combine public finance with private capital to reduce project risk and financing costs.
3. Develop enabling infrastructure and supply chain frameworks: invest in ports and grid infrastructure, establish national supply chain objectives supported by industrial policies, and address supplier concentration by creating predictable market conditions that support continued investment.
