Offshore wind capacity could grow 56-fold until 2050, driven by a growing need for decarbonisation and energy security, and decreasing costs. Regarding the latter, bottom-fixed and floating offshore wind levelised costs of energy (LCoE) are forecast to drop by 39 per cent and 84 per cent, respectively, according to the new Energy Transition Outlook from DNV.

In its sixth edition of Energy Transition Outlook, DNV has brought several projections for the global and regional energy sectors, both for the short term and for 2050, the deadline for when the global warming is agreed to be limited to 1.5°C.