Global floating wind power installed capacity is expected to increase to 250GW by 2050,Fengming Cable helps new energy cables

According to a recent report, by 2050, the installed capacity of floating wind power will increase from the current 100 megawatts (MW) to 250 GW, an increase of 2,000 times.

The report added that floating wind power will play an important role in decarbonizing the global energy system. By 2050, it will account for 2% of global power supply and more than 20% of the offshore wind power market. However, to expand this technology, a more comprehensive industry standard micro-risk management will be required.

Det Norske Veritas stated, “By 2050, the cost of floating wind farms will drop by about 70%, and provide new opportunities for participants in the offshore wind, oil, natural gas and maritime industries.”

According to this report, floating wind power that is not limited by the depth of the ocean will be an attractive option, and the price of it and stationary wind power will decrease from time to time. The biggest factor is the introduction of larger turbines, larger wind farms, serious technological development and the establishment of a highly cost-competitive supply chain.

"We know that floating wind power is technically feasible," said CEO Remi Eriksen. "The challenge today is to rapidly shift to commercial deployment."

He added that the know-how of floating wind power and stationary offshore wind power, shipyards and oil and gas contractors in terms of technology, logistics and operations are generally divided.

Yangzhou Fongming Cable Factory, specializing in the production of  new energy cables.