As the world moves away from stranded assets, offshore wind farms represent one of the biggest sources of future wealth

Offshore wind turbines are one of the fastest growing parts of the renewable energy market, driven by a solid Northern European market where the cost and energy benefits provide obvious appeal.

Crucially, offshore wind farms do not require extensive planning permits compared to onshore wind projects, which tend to inhibit the pace at which onshore projects can come to fruition.

The objections that normally hinder onshore developments can sometimes take years to deal with. In addition, offshore wind farms in Northern Europe tend to benefit from higher wind speeds, which in turn result in greater levels of energy generation.

Offshore wind has benefited from a combination of falling costs, the access to a greater network of skilled professionals in offshore wind and political pressures that are favouring renewable energy sources.

As the world deals with the effects of climate change and many nations move towards an energy security that is not reliant on foreign imports of fossil fuels, the appeal of offshore wind farms is obvious when the benefits of a clean and secure energy supply are compared with the “alternatives”.