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Market Outlooks

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New Study Shows How North Sea Offshore Wind Can Yield More While Costing Less
Market Outlooks

New Study Shows How North Sea Offshore Wind Can Yield More While Costing Less

A less dense development of offshore wind in the German Exclusive Economic Zone (EEZ) of the North Sea, and a relocation of capacities to neighboring countries can both increase the yield from offshore wind and reduce costs, a new study by the Fraunhofer Institute for Wind Energy Systems (Fraunhofer

18 days ago
Swedes Expand Cable Capacity as Part of Long-Term Deal with NKT
Market Outlooks

Swedes Expand Cable Capacity as Part of Long-Term Deal with NKT

Sweden’s Hexatronic Group is investing in a new production line for fibre-optic cables at its largest production site, as part of a long-term supply agreement with Danish power cable manufacturer and installation firm NKT. The new production line at the Hudiksvall facility will more than double the

28 days ago
War in Iran Makes Europe Spring Into Action on Offshore Wind; Industry, Governments and NATO Meet in Madrid
Market Outlooks

War in Iran Makes Europe Spring Into Action on Offshore Wind; Industry, Governments and NATO Meet in Madrid

“The European offshore wind industry is gearing up to deliver”, WindEurope said on 23 April as energy ministers from the North Sea countries, together with the industry, transmission system operators (TSOs), and NATO, met in Madrid to discuss the next steps on implementing the Hamburg Declaration, s

about 3 months ago
‘Mobilising EUR 1 Trillion in Investments’ | North Sea Countries, Industry, TSOs to Ink Offshore Wind Pact
Market Outlooks

‘Mobilising EUR 1 Trillion in Investments’ | North Sea Countries, Industry, TSOs to Ink Offshore Wind Pact

Government officials from Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Norway and the UK are set to sign a declaration confirming the ambition to build 300 GW of offshore wind in the North Seas by 2050, and an investment pact with the offshore wind industry and transmissi

about 6 months ago
US Judge Overturns Trump’s Ban on Wind Energy Project Permits
Market Outlooks

US Judge Overturns Trump’s Ban on Wind Energy Project Permits

A federal judge has struck down the US President Donald Trump’s indefinite halt of all federal approvals and permitting for new wind energy projects. In a ruling on 8 December, Judge Patti Saris of the US District Court for the District of Massachusetts ruled in favour of 17 US states and the Distri

about 7 months ago
Revolution Wind Gets Rhode Island Power Contract
Market Outlooks

China Accelerates Offshore Wind Growth as US Faces Headwinds

As the US seeks to reduce reliance on Chinese supply chains by prioritising domestic oil and gas, its offshore wind sector has faced many challenges, from policy setbacks to rising inflationary costs. Meanwhile, Rystad Energy projects that China will account for 45 per cent of global offshore wind c

about 9 months ago
Longer Lifespan for Offshore Wind Farms Could Improve Returns and Reduce Costs, German Study Finds
Market Outlooks

Longer Lifespan for Offshore Wind Farms Could Improve Returns and Reduce Costs, German Study Finds

According to a study done by the Fraunhofer IWES, coordinated continued operation of existing offshore wind farms for up to 35 years, followed by decommissioning and new construction, could increase energy yields while reducing economic costs over the entire period. In a recent study, commissioned b

about 10 months ago
WindEurope: EUR 6.4 Billion Needed for Ports and Vessels to Meet Offshore Wind Goals
Market Outlooks

WindEurope: EUR 6.4 Billion Needed for Ports and Vessels to Meet Offshore Wind Goals

Europe needs to invest an extra EUR 6.4 billion in port facilities and new vessels to reach its offshore wind energy goals, according to WindEurope. Currently, Europe can install and maintain about 10 GW of offshore wind annually, enough to meet its 2030 energy security targets, but after 2030, this

about 11 months ago
$360M Investment to Be Made for First Phase of South Korean Subsea Cable Manufacturing Plant
Market Outlooks

USD 360 Million Investment to Be Made for First Phase of South Korean Subsea Cable Manufacturing Plant

South Korean Taihan Cable & Solution is investing USD 360 million for the first phase of construction of its second submarine cable manufacturing facility, which will, once operational, deliver a production capacity nearly five times greater than the company’s first submarine cable plant. Taihan ope

about 1 year ago
Fugro to Survey Irish Seabed for Future Offshore Wind Farms
Market Outlooks

Fugro to Survey Irish Seabed for Future Offshore Wind Farms

Fugro has secured a seven-year framework agreement with Irish transmission system operator (TSO) EirGrid to perform surveys for a project that will develop offshore electricity substations and export cable routes to connect Ireland’s future offshore wind farms on the south coast to the national grid

about 1 year ago
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
Equinor's Hywind Scotland floating wind farm
Market Outlooks

Scottish Gov’t Mulls Increasing Offshore Wind Target to 40 GW by 2040

The Scottish government is seeking views on proposals which would see the country’s offshore wind ambition increased to up to 40 GW of new capacity by 2040. The consultation will run until 13 August. The estimate that 40 GW equates to enough renewable energy to power 45 million homes assumes offshor

about 1 year ago
Moray West Ocean Winds Cadeler
Market Outlooks

Offshore Wind Grows by 11 GW in 2024 with 31 Projects Commissioned – WFO Report

According to a new report published by the World Forum Offshore Wind (WFO), 31 new offshore wind farms with a total capacity of 11 GW were put into operation in 2024, increasing the global offshore wind capacity to a total of 78.5 GW. China continues to lead the sector, according to the report, with

about 1 year ago
Fugro Realigns Americas Ops Amid Offshore Wind Slowdown and Market Uncertainty
Market Outlooks

Fugro Realigns Americas Ops Amid Offshore Wind Slowdown and Market Uncertainty

Dutch Fugro has realigned its operations in the Americas by reducing its workforce and scaling back operations due to expected lower revenues caused by a pause in new offshore wind projects. In the financial update for the first quarter of 2025, Fugro stated that rapidly increased geopolitical and e

about 1 year ago
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