Volume, Financing, and Healthy Supply Chains

Insights from Barcelona

The global offshore wind sector began 2025 in Barcelona as industry experts gathered to reflect on a challenging 2024 and discuss what we can expect in the coming year. From the opening session, it became clear that while challenges persist, there’s ample reason for optimism. From targets to turbines, here’s a preview of what the offshore wind industry will be talking about in 2025:

Ambition lays the tracks, but money moves the train

Ambition drives progress, even if the destination isn’t always reached on time. However, turning any ambition into action depends on robust financing.

While certain governments may struggle to achieve their offshore wind targets by 2030, it is essential that we expand our investment in this reliable and sustainable source of green energy to meet the increasing energy demands of the future.

As Iain Grainger from IMCA (International Marine Contractors Association) put it, “You can’t take ambition to the bank.” Two-sided Contracts for Difference (CfD) and Power Purchase Agreements (PPAs), among other financing mechanisms, are essential tools for unlocking growth, serving to stabilize prices and manage risk. Without these and other sensible financing structures, ambitious goals risk remaining just that — goals.

Offshore wind needs a new script

In politically polarized countries such as the U.S., traditional arguments tied to climate change simply don’t resonate. In these regions, it's time for the industry to focus the public narrative on energy independence, national security, and economic opportunity. These pragmatic stories build bridges, resonating across political divides. Similarly, terminology like “subsidy-free” can often mislead an unsuspecting public that our projects are free. For example, let’s frame the two-sided Contract for Difference (CfD) as what it really is – a price stabilization mechanism...an effective risk management tool. This shift builds trust in offshore wind as a pragmatic, scalable, clean energy solution.

?Global thinking for a global challenge

Local and regional supply chains are struggling due to bottlenecks, high cost of capital, and keeping up with ever-increasing turbine size. As was pointed out often, Taiwan’s shift away from burdensome local content requirements initially highlights this simple reality: the offshore wind industry needs a truly global supply chain to scale effectively. We need the volume wherever and however we can get it.

And while meeting in Barcelona the industry saw Donald Trump sworn into office for a second term and immediately pause all new offshore wind buildout. The industry's reaction? The U.S. market will eventually be there but is now going to be delayed years because of Trump’s actions. Patience now and global collaboration later will help the U.S. unlock its potential when market certainty is restored. For 2025, the industry’s focus should remain on committed markets such as Germany, UK, Netherlands.

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What’s Next?

The WFO Global Summit 2025 reminded us that offshore wind’s story is one of ambition, innovation, and resilience. At WFO, we ensure our members have an active voice in driving the industry forward...a place at the table where the future of offshore wind is decided. Membership provides access to exclusive events, committee participation, networking, the latest research and global visibility for your business.

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Join us and be part of shaping offshore wind’s next chapter!