Norway-based renewable energy company Ocean Ventus has introduced a new end-to-end solution to the challenge of constructing wind farm foundations that claims to achieve cost-competitive power from floating wind.

Current targets for offshore wind imply an eightfold increase in installed capacity by 2030.

This translates to 32GW in floating wind expected to be installed in the next decade.

Floating technology is also moving from the North Sea to other markets across the world, where waters are deeper than 60m.

However, the construction of foundations has been a bottleneck to building large-scale floating wind farms because existing floating wind foundations are heavy and are not straightforward to manufacture, which has restricted supply.

Ocean Ventus has now introduced an end-to-end solution for low-cost floating wind, from foundation production to transportation, assembly and maintenance.

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Its design saves up to 40% in steel costs and reduces CO₂  emissions.

The new foundations can be manufactured using methods similar to monopile-making. Due to their modular nature, they can be easily transported on low-cost vessels.

Assembly can be carried out by purpose-built barges. The barges can install up to 50 floating units annually, minimising quay space.

A patent-pending service vessel will then work seamlessly to provide turbine maintenance, eliminating the need for towing them to shore.

Ocean Ventus chairman Halvor Ribe stated: “Foundations are a key challenge to making floating wind cost competitive, and we believe that Ocean Ventus is uniquely positioned to address this challenge.

“Our simple design, modular components and industrialised process allow for serial production and significant cost savings. We are excited to bring this technology to market and support the growth of offshore wind in Norway and worldwide.”

The company is planning to establish large-scale production facilities and is exploring opportunities for a factory in Norway. It aims to produce up to 50 structures annually and to ramp up production in 2028 for licence rounds across key markets.