Developer confidence in floating wind sinking
Delivery delays, investment risk and sluggish policy implementation cited as reasons for sharp fall in optimism across sector, says new study
Developer confidence in floating offshore wind has sunk dramatically amid challenging conditions for the sector, according to a new survey.
The findings come from Westwood Global Energy Group’s floating offshore wind survey relased today, which polled 166 industry stakeholders.
It found that while new leasing rounds and subsidy announcements suggested “positive momentum” in the sector, delivery delays, investment risk and sluggish policy implementation have resulted in a “more cautious” industry stance.
“Progress is happening, but too slowly,” said Bahzad Ayoub, manager for offshore wind at Westwood. “The frustration across the sector stems from knowing that momentum exists – but the pace is out of sync with expectations.”
“Optimism hasn’t disappeared, but it’s now paired with a grounded mindset.”
Comparing the results to last year’s survey, the biggest swing in optimism came from developers. They were previously the most positive group but are now the least confident, with 63% feeling less optimistic than in 2024.
Seventy-two percent of respondents now anticipate less than 3GW of global floating offshore wind capacity to be operational by 2030.
“Floating wind must be treated as a distinct sector, not simply an extension of fixed-bottom wind and a majority of respondents think this way,” said Ayoub.
“The technology, timelines and investment requirements are different – and government and industry action needs to reflect that.”