News that South Korea aims to build the world’s largest offshore wind farm by 2030 follows moves by major exploration and production companies to establish a foothold in the nascent market.
The floating offshore wind power market in Asia Pacific could offer investment opportunities worth up to $58 billion as a significant market for the technology is emerging, latest research from Wood Mackenzie shows.
Danish wind turbine maker Vestas - which last week announced it would build the world's largest offshore wind turbine - has appointed Purvin Patel as regional president Asia Pacific to bolster its presence and market position in the rapidly expanding markets in the region.
Coal-fired power generation is projected to surge in India as the expanding wave of renewable energy capacity cannot keep up with electrification growth in the South Asian country, home to the world’s second biggest population.
Japan will aim to more than quadruple offshore wind generation capacity in the decade to 2040 under plans to meet its mid-century emissions reduction target.
Bosses at Rotech Subsea are celebrating big contracts in the Asia-Pacific region and looking to re-establish a foothold in potentially lucrative US markets.
Fugro has become the latest company to try and gain a foothold in Japan’s “burgeoning” offshore wind industry.
The UK proposes to help develop one of the world’s largest offshore wind projects in Vietnam, where the market is expected to boom.
Japan will promote the use of offshore wind generation and battery storage in its new effort to become carbon neutral by 2050, according to a government official, indicating how the nation might change its policies to meet the ambitious goal.