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Market Outlooks

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offshore wind Wales action plan
Market Outlooks

Welsh Gov’t Launches Action Plan to Tap Into 15 GW Offshore Wind Potential

The Welsh government has launched a comprehensive action plan which aims to maximise the country’s offshore wind potential and secure long-term economic benefits. The action plan, prepared by a task and finish group established earlier this year, outlines that Wales’ pipeline exceeds 15 GW of offsho

about 1 year ago
A visualization of Bibby Marine's electric CSOV at sea
Market Outlooks

Cammell Laird to Study Market Opportunities for UK-Built SOVs

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The Offshore Renewable Energy (ORE) Catapult, in partnership with the National Shipbuilding Office and The Crown Estate, has appointed Cammell Laird, part of APCL Group, to carry out a detailed analysis of the future market opportunity for UK-built service operation vessels (SOVs) for offshore wind.

about 1 year ago
Global Offshore Wind to Rebound in 2025, Adding 19 GW of Capacity – Rystad Energy
Market Outlooks

Global Offshore Wind to Rebound in 2025, Adding 19 GW of Capacity – Rystad Energy

According to research from Norway-headquartered Rystad Energy, the global offshore wind industry is set for a rebound in 2025, with capacity additions expected to reach 19 GW and sector-wide expenditure projected to hit USD 80 billion (approximately EUR 76 billion). A record wave of lease auctions i

about 1 year ago
A photo of Saipem's S7000 vessel installing a floating wind turbine
Market Outlooks

Saipem and Subsea7 Unveil Merger Plan

Italy’s engineering, drilling, and construction services giant Saipem has signed a memorandum of understanding (MoU) for the possible merger with global energy player Subsea7. The two players reached an agreement in principle on the key terms of a possible merger, which is expected to result in the

about 1 year ago
British-owned Pritchard-Gordon Group has expanded into the European offshore wind and marine energy sectors with the launch of PG Renewables
Market Outlooks

New UXO Contractor to Support Offshore Wind and Marine Energy Projects

British-owned Pritchard-Gordon Group has expanded into the European offshore wind and marine energy sectors with the launch of PG Renewables, a company focused on offshore and nearshore unexploded ordnance (UXO) clearance. According to the Pritchard-Gordon Group, PG Renewables aims to support offsho

about 1 year ago
Netherlands Looking at Offshore Hubs and Interconnectors, Where Does Hydrogen Stand?
Market Outlooks

Netherlands Looking at Offshore Hubs and Interconnectors, Where Does Hydrogen Stand?

Energy islands are no longer being considered in the Netherlands. Instead, the focus has been shifted to offshore energy hubs and interconnectors. With rising (cyber)security concerns as a result of a number of recent incidents in European waters, as well as the Russia-Ukraine war, diversification o

about 1 year ago
Kincardine floating wind farm in Scotland; Photo source: Eni / Plenitude
Market Outlooks

Global Floating Offshore Wind Pipeline Grows to 266 GW – Report

The global pipeline of floating offshore wind projects has expanded from 244 GW to 266 GW in the last twelve months, reflecting a nine per cent increase, according to a report published by RenewableUK. The number of global projects has increased from 285 to 316, with the pipeline including projects

about 2 years ago
Ørsted
Market Outlooks

Global Offshore Wind to Top 520 GW by 2040, Floating Wind to Play Major Role – Rystad Energy

According to Rystad Energy, global offshore wind capacity will surpass 520 GW by 2040, with floating wind installations nearing 90 GW by that time. In 2023, the offshore wind sector saw a seven per cent increase in new capacity additions compared to the previous year, said Rystad Energy. This moment

about 2 years ago
Interview with Rovco CEO: New technologies can close huge offshore wind skills gap
Market Outlooks

Interview with Rovco CEO: New Technologies Can Close Huge Offshore Wind Skills Gap

New technologies have the ability to massively close the huge skills gap and shortage of workers that is looming over the offshore wind industry, allowing 10 to 17 times more work to be done by one person, according to Brian Allen, CEO of Rovco, a UK company focused on automating offshore wind servi

about 2 years ago
Dudgeon offshore wind farm
Market Outlooks

UK ESO Unveils GBP 58 Billion Grid Investment Plan to Reach 86 GW of Offshore Wind by 2035

Great Britain’s electricity system operator (ESO) has proposed a GBP 58 billion (approximately EUR 68 billion) investment in the electricity grid. The proposal outlines a vision for incorporating an additional 21 GW of offshore wind into the grid by 2035, which would bring the country’s total offsho

about 2 years ago
Photo from Borkum Riffgrund 2 which came into operation in 2018.
Market Outlooks

Europe Installs Record-Breaking 4.2 GW of Offshore Wind in 2023

Europe’s offshore wind industry brought online a record 4.2 GW of new capacity in 2023 and is expected to build around 5 GW of offshore wind annually over the next three years, according to WindEurope data. However, this is still not enough to meet the continent’s 2030 climate and energy security ta

about 2 years ago
A photo of the Humber Gateway offshore wind farm in the UK
Market Outlooks

New Plan to Lay Out Path for UK Offshore Wind Growth Expected in Early 2024

RenewableUK, the Offshore Wind Industry Council (OWIC), the Crown Estate, and Crown Estate Scotland are developing a new Industrial Growth Plan (IGP) to boost the long-term growth of the UK offshore wind sector. The industry players have appointed KPMG to support the development of the IGP which is

about 2 years ago
Australia’s Offshore Wind Market Could Significantly Benefit from Collaboration with UK Suppliers, Study Says
Market Outlooks

Australia’s Offshore Wind Market Could Significantly Benefit from Collaboration with UK Suppliers, Study Says

A new study has been launched that highlights significant opportunities for the UK to share its wind farm expertise with Australia’s emerging offshore wind market. The Australian Offshore Wind Market Study, conducted by Arup, evaluates potential Australian offshore wind markets and analyses the stre

about 2 years ago
Nine European Countries Launch Joint Offshore Wind Tender Planning, Set to Auction Off 15 GW Each Year
Market Outlooks

Nine European Countries Launch Joint Offshore Wind Tender Planning, Set to Auction Off 15 GW Each Year

Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Norway, and Sweden, together with the European Commission (EC), have launched joint planning of offshore wind tenders at a ministerial meeting of the North Seas Energy Cooperation (NSEC), held on 20 November, in the Hague, the

about 2 years ago