Renewables

Floating wind farms are expected comprise 5 – 15% of the global offshore wind installed capacity of 6,044 GW by 2050, and represents US$96 billion in capital expenditure from 2021 to 2035, which off mooring systems and installation activities are estimated to be US$16.7 billion combined.

In particular, the demand for offshore wind in Asia is expected to see an upsurge over the next few years. The UK’s offshore wind market is expected to remain robust up until 2030, driven by relatively stable framework for new project developments and the UK Government’s commitment to achieve net-zero carbon emissions.

Renewable energy players will need a mooring specialist to install floating platforms, which will be a vital component in harnessing wind, solar and tidal energy offshore.