Europe set a market lead in offshore wind power development, but China is quickly eroding it, experts told attendees of a major global industry conference last month in London. As these markets mature, presenters added, developers are looking increasingly at vast potential offered by emerging economies and deployment of floating wind generation to exploit untapped resources in deep waters.
With pressure to decarbonize national economies, “renewables, as a whole…have really reached a turning point,” Imogen Brown, energy analyst with BloombergNEF, told online delegates at the Global Offshore Wind 2020 conference held last month by trade group RenewablesUK. Offshore wind power still is “fairly nascent, ” she added, but with large growth prospects, “it’s a good time to be part of it.”