A new report by the UK's Floating Offshore Wind Taskforce suggests that floating wind could become one of the most significant industrial success stories for the UK this century, provided the right measures are taken to accelerate project development. The report, Floating Wind: Anchoring the Next Generation Offshore, emphasizes the UK's advantages in engineering expertise and abundant wind resources, positioning the country to lead a £1 trillion global floating wind energy industry by 2050.
The report outlines that the UK's floating wind industry could support 97,000 jobs by 2050, with £47 billion in economic contributions. Many of these roles are expected to be created in Scottish and Welsh ports, facilitating both domestic energy projects and exporting advanced technology worldwide.
According to the report, floating wind turbines could provide a third of the UK's offshore wind capacity by 2050, with 40GW of power—enough to meet the country's energy needs, including increased demand from the electrification of heating and transportation.
The cost of floating wind projects is forecast to fall by 30% by 2030, reducing the price to under £100 per megawatt hour. Despite the UK already having two operational floating wind farms, the report stresses the need to accelerate the implementation of test and demonstration projects to achieve these cost reductions, mirroring the success of fixed offshore wind.
While the UK holds a significant pipeline of floating wind projects, with seabed leases for up to 24GW of capacity, the report warns of challenges. A shortage of suitable ports for turbine manufacturing and assembly, along with competition from European suppliers, could hinder the UK's ability to fully capture the economic benefits of the floating wind industry.
The report advocates prioritizing high-value segments of the floating wind supply chain—such as steel and concrete platforms, cables, moorings, and anchors—as outlined in the UK's Industrial Growth Plan for offshore wind. Innovations, including the standardization of platform design and the use of robotics for inspection, are expected to contribute to further cost reductions.
Dan McGrail, co-chair of the Floating Offshore Wind Taskforce and CEO of RenewableUK, emphasized the need for swift action, stating, “Floating wind is set to become one of the biggest global industries of the twenty-first century, and the UK has an unprecedented opportunity to lead by scaling up this innovative technology.”
Energy Secretary Ed Miliband echoed these sentiments, noting, “Floating offshore wind is at the heart of the government's mission to make Britain a clean energy superpower.” He highlighted the role of Great British Energy's partnership with The Crown Estate in advancing the industry and securing economic growth and jobs.
Brian McFarlane, industry co-chair of the Scottish Offshore Wind Energy Council, noted Scotland's key role in developing the supply chain for floating offshore wind and emphasized the need for continued investment and collaboration to meet the country's clean energy targets.
The report positions the floating wind sector as a cornerstone of the UK's future energy strategy, with the potential to boost both energy security and economic growth.
