Demand for wind farms will increase over the next decade, according to offshore wind analyst Zac Ward.
In 2020, spending on offshore renewable projects was higher than that of offshore oil and gas spending, by an estimate of $12 billion, with $43 billion for oil and gas and $56 billion for renewable energy.
Newly built vehicles and repurposed or upgraded supply vessels will meet the demand for wind farm installation and maintenance vessels.
While the global capacity for offshore wind farms is now at 25GW, that number will rise to 235GW by 2030, estimates say.
VesselsValue’s Orderbook shows that out of the renewable energy still on order, about half are for Europe and half are for the Far East.
The United Kingdom has the most wind farms installed, followed by Germany, China, Denmark, Belgium, and the Netherlands. Asia, however, has the highest number of future plans for wind farms.