The Global Offshore Wind Alliance and Carbon Trust have published a white paper urging stronger international policy coordination to accelerate the commercialisation of floating offshore wind technology. The report states that fixed-bottom offshore wind alone will not be sufficient to meet projected global electricity demand, which is expected to double by 2050. With around 70% of offshore wind resources located in deeper waters, floating offshore wind is presented as a necessary complement to existing fixed-bottom installations.
More than 278 MW of floating capacity is currently operational across over 15 projects worldwide. However, the sector is still considered to be in a pre-commercial phase. While national targets for floating offshore wind exceed 40 GW, the authors project that even under a high-growth scenario, installed capacity would reach about 260 GW by 2050. This remains well below the International Renewable Energy Agency estimate of 2,465 GW of total offshore wind capacity required by that date.
The white paper identifies four main levers for commercialisation: economies of scale, a supportive policy framework, learning-by-doing and targeted research and development. It concludes that policy action is the most critical factor, as it underpins progress in the other areas.
Key barriers include high and persistent project costs, inconsistent policy signals, an underdeveloped supply chain and elevated investor risk perception. Two early-stage 100 MW projects in the United Kingdom recently secured contracts in a government auction at £216.49 per MWh, compared with a blended fixed-bottom offshore wind price of £91.20 per MWh, highlighting the current cost gap. DNV estimates that the levelised cost of energy for floating offshore wind could fall by 59% by 2060 to around USD 100 per MWh.
The report sets out eight recommendations, primarily aimed at governments. These include committing to international cooperation through a proposed Floating Offshore Wind Global Cooperation Charter, setting clear national targets supported by regular auction schedules, treating floating offshore wind as a distinct technology from fixed-bottom offshore wind and supporting project de-risking through public investment in infrastructure. It also calls on development finance institutions to introduce tailored financing tools and encourages the establishment of public–private partnerships.
Countries where floating offshore wind represents the largest share of total offshore wind potential include Japan, South Korea and Chinese Taipei, where deep coastal waters limit the feasibility of fixed-bottom deployment.
The white paper was commissioned by the Global Offshore Wind Alliance and authored by the Carbon Trust. The alliance was founded by the Government of Denmark, the International Renewable Energy Agency and the Global Wind Energy Council.
