Currently, Europe has 208 MW of floating offshore wind capacity, but by 2030, this figure is expected to rise significantly to 2,000 MW, with 1,471 MW located in the UK alone.
A major development in this sector is the UK government’s recent Contract for Difference (CFD) auction, which awarded 400 MW of capacity to the 560 MW Green Volt floating wind project. Set to be Europe’s largest commercial-scale floating offshore wind farm, Green Volt is expected to become operational in 2029. The wind farm will provide power to offshore oil and gas platforms as well as the UK grid, with the remaining 160 MW potentially being allocated to power purchase agreements (PPAs).
In total, the auction saw 9.6 GW of green power capacity secure contracts, with 6.3 GW coming from wind energy, including 5.3 GW offshore and 990 MW onshore.
Looking ahead, the floating offshore wind sector could further expand, with up to 1.5 GW of projects potentially securing CFDs. However, industry experts note that the technology is still in its early stages, facing considerable technical and commercial risks. Future auctions will need adjustments to allow this emerging technology to scale up and become more competitive.