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Floating wind platforms "on the verge of lift-off"

Floating wind platforms will begin to deliver “multiple gigawatts” of electrical power within the next five years, racing to almost 20 GW of capacity by 2030, says report.

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Report points to UK, France, Portugal, Japan, US and Taiwan as among the early markets
Report points to UK, France, Portugal, Japan, US and Taiwan as among the early markets

Floating wind platforms will begin to deliver “multiple gigawatts” (GW) of electrical power within the next five years, racing to almost 20 GW of capacity by 2030, new research suggests.

 

Rethink Technology Research’s report, Floating wind on the verge of liftoff – ten-year forecast; bright future, reckons the platforms are about to “come into their own”.

 

Potential span

 

The report from its Rethink Energy service forecast the platforms have a potential span of between 11.8 GW and 18.9 GW, with the latter higher figure “more likely”. Although one area of doubt is the speed of adoption to full scale among the many well-known regions which are currently demonstrating floating wind or planning to, according to Rethink Technology Research.

 

By 2035, it predicts all projects will have caught up and the marketplace will reach 28 GW of capacity, and that by 2030 the levelised cost of energy (LCOE) for floating wind will be down to approximately $44 per MWh.

 

The report points to the UK, France, Portugal, Japan, the US, South Korea and Taiwan as potential early markets but cautions there may be delays as “no-one wants to be the pioneer with arrows in his or her back”.

 

Each of the initial major programmes are anticipated to be complete by 2030, but Rethink projects a slow adoption towards government inspired capacity targets.

 

Initially, only three or four floating platforms will be sufficiently well established to make projects “proceedable” with many firing the starting gun in 2020 and 2021.

Each of the initial major programmes are anticipated to be complete by 2030, but Rethink projects a slow adoption towards government inspired capacity targets

There will be a four- or five year delay before the early pioneers on floating wind are caught by regional upstarts and later designs, giving them ample time to repay the costs of researching this area ahead of the market and captivating significant market share.

 

There will be a four- or five year delay before the early pioneers on floating wind are caught by regional upstarts and later designs, the report notes, giving them “ample time” to repay the costs of researching this area ahead of the market and captivating significant market share.

The report, Floating wind on the verge of liftoff – ten-year forecast; bright future, is aimed at developers, turbine and floating platform suppliers, investors engineering firms and energy operators at strategy formulation level.

 

Rethink Energy is an energy service which focuses on the transition from fossil fuels, and factors wind, solar, batteries, wave power, the digitalisation of the grid, the effect of electrical vehicles on electricity supply and any new ideas in energy such as switching from methane to hydrogen as a gas fuel.

 

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