Report: Demand for ocean space increases

Wind Industry Profile of

The exponential growth of offshore wind power will be the main driver of a nine-fold increase in demand for ocean space by the middle of the century, according to DNV’s Ocean’s Future to 2050 report.

The report forecasts that by midcentury, offshore wind will require ocean space which is the equivalent to the landmass of Italy. The growth will be particularly pronounced in regions with long coastlines and presently have low penetration of offshore wind. Demand for ocean space is set to grow 50-fold in the Indian Subcontinent and 30-fold in North America.  The rise of wind will be pivotal to the transformation of the Blue Economy. Currently, 80 percent of capital expenditure (capex) in the Blue Economy is invested in the offshore oil and gas sector, but by 2050... ... More: Official Press Release DNV

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DNV, ocean, offshore, race, wind farm, power, 2050, report, coastlines, GW, North America, Blue Economy