- Published: 21 June 2022 21 June 2022
OWC has supported the ORE Catapult’s “Floating Offshore Wind Centre of Excellence”, in developing a market study that projects future global floating wind opportunities, identifying 54 territories as potential floating wind markets. The study entitled “Floating Offshore Wind International Market Opportunities” has been published to the ORE Catapult website.
The analysis screened over 240 territories for their potential readiness for floating wind development. Each territory was assessed against minimum technical thresholds such as coastal access, offshore wind resources and bathymetry, and by additional socio-economic filters to support investments in commercial scale floating offshore wind.
Against this criterion, the report narrowed the list of potential floating wind markets to 54 territories, which pass all thresholds. Then all 54 territories were further evaluated in terms of their short-term or long-term readiness for commercial floating offshore wind development based on 11 custom developed criteria spanning three categories: (i) technical resource and policy drivers, (ii) commercial investment landscape, (iii) floating offshore wind market facilitators.
22 countries spanning Europe, the Americas, and Asia Pacific fall into the category for short-term development of floating offshore wind within the period of 2022-2035, whilst 32 fall into the long-term category from 2035 to 2050, including countries in Africa.