Special Research on the Wind Power Industry: The Floating Offshore Wind Power Industry Landscape, 2023

Each floating foundation design possesses unique characteristics, with companies from diverse sectors participating in this segment. As floating offshore wind technology remains relatively new, the table below shows that, besides dedicated floating wind technology firms such as Principle Power and Ideol, participants in the floating foundation segment also include shipbuilding enterprises and energy service providers—e.g., Saipem and Samsung Heavy Industries—each developing distinctly unique floating foundation structures. In the Chinese market, the floating foundations for the 'Yinling' and 'Fuyao' demonstration units were designed by China Haizhuang (China CSSC Haizhuang Wind Power Equipment Co., Ltd.) and Wison (Nantong) Heavy Industry Co., Ltd., respectively: the 'Yinling' employs a steel semi-submersible platform, whereas the 'Fuyao' adopts a column-stabilized platform configuration arranged in an equilateral triangular layout. Asia Star Anchor Chain offers high-grade products with strong market recognition. In overseas markets, mooring system suppliers primarily include Vryhof and MacGregor. Vryhof—a Dutch company specializing in mooring and anchoring solutions—has developed a tension-adjustable mooring chain shackle, deployable either on the seabed or on floating platforms. MacGregor provides complete mooring systems for floating offshore wind applications, comprising tensioners, winches, chain stoppers, and underwater structural connectors. In the domestic market, key suppliers currently include Asia Star Anchor Chain and Julisuoju (Julu Rigging). For instance, Asia Star Anchor Chain and Julisuoju jointly supplied anchor chains for the 'Three Gorges Yinling' project, while Asia Star Anchor Chain and Qingdao Anchor Chain supplied those for the 'Fuyao' project. As the world’s leading anchor chain manufacturer, Asia Star Anchor Chain possesses proprietary R6-grade mooring chain production technology—the highest classification available—and enjoys high market recognition; it has since won the mooring system contract for CNOOC’s floating offshore wind project. Some components remain to be localized. Although numerous domestic companies can now manufacture anchor chains, high-performance tensioners and high-holding-capacity anchors still rely heavily on imports: for example, both Longyuan and Three Gorges projects employ imported tensioners. Only Chongqing Pengxiang Anchor Manufacturing Co., Ltd. supplies high-holding-capacity anchors domestically, yet it still cannot produce anchors achieving the highest holding-weight ratio. Localization of these components would further reduce overall mooring system costs. (III) Developers and Contractors: Primarily traditional wind power developers, oil & gas majors, and marine engineering groups European developers lead internationally, with multi-company collaboration being common. In overseas markets, numerous developers are active in floating offshore wind, mainly comprising energy companies and dedicated floating wind firms. Energy companies include Shell, Equinor, Ørsted, TotalEnergies, and RWE. Traditional oil & gas developers leverage their extensive experience in offshore oil exploration, marine construction, and offshore platform operations—providing them inherent advantages in developing offshore wind projects. Dedicated floating wind firms include Hexicon and BW Ideol. As floating offshore wind projects advance, collaborative development among multiple companies has become widespread to maximize resource utilization. For example, Shell signed a joint development agreement with Swedish–Korean floating wind technology firm CoensHexicon to launch development of the Ulsan Floating Offshore Wind Base; Italian developer Aquaterra Energy partnered with Seawind Ocean—the pioneer of two-bladed floating wind turbines—to develop a 3.2 GW floating offshore wind project in the Mediterranean region.

Toshiba Joins Forces with General Electric: A New Player Emerges in Japan’s Wind Power Manufacturing Sector

According to International Energy Network / Wind Power Headlines, Toshiba Corporation and U.S.-based General Electric (GE) are currently engaged in negotiations toward a joint venture to co-produce core components for offshore wind turbine generators. Currently, Japan’s most prominent wind turbine manufacturer is the joint venture Mitsubishi Vestas Offshore Wind (MVO), whose production base is located in Europe—far from Japan’s domestic market. Moreover, in October 2020, Vestas acquired Mitsubishi’s 50% stake in the venture, effectively transforming MVO into a ‘Danish company’ in practice. Toshiba’s alliance with GE highlights the relative weakness of Japan’s domestic wind turbine manufacturing capacity. Reports indicate that since 2020, Hitachi, Ltd. announced its exit from independent wind turbine manufacturing; Mitsubishi Heavy Industries and Nippon Steel Corporation have effectively withdrawn from onshore wind equipment production, limiting their involvement solely to sales support for joint ventures. Against the backdrop of numerous domestic wind equipment manufacturers exiting the market, why has Toshiba chosen to partner with GE to intensify its commitment to the offshore wind sector? Policy Momentum Bolsters the Offshore Wind Industry According to International Energy Network / Wind Power Headlines, Japan installed 449 MW of new wind power capacity in 2020, bringing its cumulative installed capacity to 4,372 MW by year-end. The Japan Wind Energy Association stated, “2020 marked Japan’s largest annual wind power installation to date.” Effective April 1, 2019, Japan implemented its new ‘Act on Utilization of Renewable Energy Sources in Maritime Areas,’ aiming to accelerate offshore wind development. Under government targets, renewable energy’s share of Japan’s electricity mix is expected to rise from approximately 17% currently to 24% by 2030. In July 2020, Japan’s Ministry of Economy, Trade and Industry (METI) and Ministry of Land, Infrastructure, Transport and Tourism (MLIT) jointly issued a statement announcing the launch of Japan’s first public tender for floating offshore wind projects. This marked not only Japan’s inaugural floating offshore wind tender but also its first publicly announced offshore wind tender since enacting the latest ‘Act on Utilization of Renewable Energy Sources in Maritime Areas.’ Project details indicate the floating offshore wind project will be sited in Gotō City, Nagasaki Prefecture, with a minimum capacity requirement of 16.8 MW and a post-subsidy tariff set at ¥36 per kWh—approximately RMB ¥2.374 per kWh. Government subsidies for offshore wind significantly exceed those for photovoltaic and onshore wind power. Japan’s Government Wind Power Development Plan The government’s resumption of offshore wind tenders triggered widespread industry attention, with insiders viewing it as a ‘turning point for Japan’s offshore wind industry.’ In December of the same year, the Asahi Shimbun reported that Japan aims to install 30–45 GW of additional offshore wind capacity by 2040, supporting its goal—as the world’s fifth-largest carbon emitter—to achieve carbon neutrality by 2050. Concurrently, the Japanese government strives to raise the domestic procurement ratio for wind power components to 60% by 2040.

Japan's Industry Ministry, Siemens Energy to Partner on Floating Offshore Wind Project

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Japan's METI and Siemens Energy signed an MoU to develop floating offshore wind projects, with Siemens establishing its first Asian O&M hub in Hokkaido to boost supply chain resilience.

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Japan's Industry Ministry, Siemens Energy to Partner on Floating Offshore Wind Project

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