The global offshore wind sector, crucial to the world's decarbonization efforts, is facing significant challenges due to supply chain bottlenecks, postponed permitting processes, and delayed auctions. Despite these obstacles, the industry is continuing to expand, with a 7% increase in offshore wind capacity last year expected to rise to 9% this year, adding 11 GW of new installations by the end of 2024, according to an analysis by Oslo-based Rystad Energy. Offshore wind is a pivotal component of the global energy transition, and projections indicate that its capacity could exceed 520 GW by 2040 (excluding mainland China). Within this, floating offshore wind capacity is expected to contribute 90 GW, with Europe accounting for over 65 GW of this total. Rystad Energy's analysts anticipate that the current floating wind capacity of less than 1 GW will grow to nearly 7 GW by 2030. However, the floating wind sector is facing similar supply chain constraints as the bottom-fixed segment, and increased government support is deemed essential for
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Anamika Mishra,
Sub Editor
