Offshore wind energy capacity to quintuple by 2030s, driving demand for specialized ships to install larger turbines.

Offshore wind energy capacity is expected to quintuple by 2030s, driving demand for specialized ships to install larger turbines. Currently, there are around 20 ships outside China capable of handling 15-megawatt turbines, but the industry anticipates investing $14.8bn to meet future demand. Building a new installation vessel takes at least three years and $400m, with retrofitting older ships also time-consuming and costly.

March 17, 2024
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