2019 saw a record number of offshore wind projects come online in the European Union and this growth is set to continue next year as postponed projects come back online.

Wind turbines with record-level rated capacities ranging from 10 MW to 12 MW were announced by manufacturers in 2018, and are finally becoming available for new plants being commissioned. These turbines are expected to garner the lowest winning bids submitted since 2017 in Germany, the United Kingdom and the Netherlands. Meanwhile, EU auction results indicate cost reductions of 45‑50% in the next five years owing to economy-of-scale advantages, standardisation and clustering. Along with evidence of rapid offshore technology maturation in upcoming years the industry has the potential to prove the feasibility and cost-effectiveness of floating offshore wind technologies.

How can industry collaborate to resume these projects quickly, capturing the latest technologies and achieving the indicated cost reductions?

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