GWEC and Global Industry Leaders Launch Action Plan to Accelerate Commercialisation of Floating Wind

The Global Wind Energy Council (GWEC), together with more than 50 leading companies and organisations across the floating wind sector, has unveiled an industry action plan aimed at accelerating the commercialisation of floating offshore wind and unlocking renewable energy potential in countries with deep coastal waters.

The action plan was developed through GWEC’s Floating Wind Industry Accelerator (FWIA), established in December 2025 to bring together developers, manufacturers, suppliers, investors, insurers, financial institutions and technical experts. Following ten months of industry consultations, participants agreed on the FWIA Action Statement for Accelerating Floating Wind.

The initiative seeks to address key barriers to floating wind deployment by focusing on cost reduction, supply-chain expansion and improved access to finance and insurance. It aims to help first-mover projects reach final investment decisions before 2030, while establishing the conditions needed for wider industry expansion during the 2030s and beyond.

The action plan identifies three principal areas for collaboration between governments and industry: floating wind value and cost reduction; expanding access to finance and insurance while lowering the cost of capital; and scaling supply chains through infrastructure, standardisation and innovation.

According to GWEC, several countries, including the United Kingdom, France, Norway, Spain, Portugal, South Korea and Japan, have established dedicated floating wind targets as part of their offshore wind strategies. Together, these targets represent approximately 90 GW of planned installed capacity by 2045.

Floating wind remains at an early stage of commercial deployment globally. Around 370 MW of demonstration projects are currently operational, while approximately 2 GW of proposed projects have active offtake contracts. A further 5.5 GW is expected to be brought to market through forthcoming auctions in France, Ireland, Norway, South Korea and the United Kingdom.

The FWIA is calling on governments to translate long-term floating wind ambitions into investable project pipelines supported by credible auction schedules, appropriate revenue frameworks and timely decisions on ports, grid connections and permitting.

The action plan also recommends establishing clear national floating wind targets and bankable auction frameworks, creating suitable conditions for initial commercial-scale projects, and coordinating investment in enabling infrastructure and supply chains.

For early projects, the initiative calls for revenue mechanisms that reflect actual project costs, binding timelines for permitting and grid connections, and the use of public finance alongside private capital to reduce investment risks and financing costs.

GWEC also highlighted the importance of investment in port and grid infrastructure, clear national supply-chain objectives and predictable market conditions capable of supporting sustained investment in manufacturing and other parts of the floating wind value chain.

GWEC Chair Michael Hannibal said floating wind has the potential to become a scalable and mature technology during the next decade but stressed that commercialisation will require coordinated action between governments and industry.

GWEC Deputy CEO Rebecca Williams said floating wind could provide an important new source of renewable electricity for countries with deep coastal waters, adding that the next challenge is to move the technology from proven demonstrations toward a commercially successful asset class.