Finance
Floating wind market 'much smaller' than expected, Technip chief says
Published by Global Banking & Finance Review®
Posted on February 26, 2026
2 min readLast updated: February 26, 2026
Tags:renewable energy
Quick Summary
Technip Energies’ CEO says floating wind demand is far lower than expected due to high costs and limited sites. Europe saw failed tenders, while U.S. stop-orders were eased by courts, leaving few near-term projects.
Technip CEO Says Floating Wind Demand Far Below Earlier Expectations
By Vera Dvorakova and ELENA SMIRNOVA
Floating Wind Market Outlook and Industry Headwinds
Feb 26 (Reuters) - Demand for floating wind turbines is much lower than imagined only three to five years ago, Technip Energies CEO Arnaud Pieton said on Thursday, reflecting broader concerns across the wind power industry.
SBM Offshore Partnership Details
Technip Energies and Ekwil’s Market Approach
Ekwil, Technip's joint venture with SBM Offshore that focuses on floating wind power solutions, will be present where projects are made. However, there are very few projects currently, Pieton told reporters in a post-earnings call.
Technology Cost Barriers
Signs of Slowdown and Cost Constraints
"We were starting to see signs of a slowdown in floating wind power last year," Pieton said, noting the technology is expensive and there is a limited number of environments in which it can operate.
Europe’s Offshore Auction Setbacks
The offshore wind power industry has been facing global headwinds. In Europe, several countries failed to attract bidders for their offshore wind farm development last year.
Impact on Orsted Projects
U.S. Stop-Orders and Court Rulings
In the U.S., President Donald Trump issued stop-orders on offshore wind projects in December, including those developed by Orsted. However, a U.S. court allowed the Danish group to resume work on the projects in February.
Reporting Location and Credits
(Reporting by Vera Dvorakova and Elena Smirnova in Gdansk; Additional reporting by Olivier Cherfan; Editing by Milla Nissi-Prussak)
Key Takeaways
- •Technip Energies says demand for floating wind is below prior expectations.
- •High costs and limited suitable sites are curbing project pipelines.
- •Ekwil, the JV with SBM Offshore, will pursue opportunities but few exist now.
- •Several European offshore wind tenders recently failed to attract bidders.
- •U.S. stop-orders on offshore wind were eased by court rulings in February.
Frequently Asked Questions about Floating wind market 'much smaller' than expected, Technip chief says
1What is the main topic?
Technip Energies’ CEO says demand in the floating wind market is much smaller than expected, reflecting wider headwinds for offshore wind projects.
2Why is floating wind demand lower than expected?
High project costs and the limited number of suitable environments for floating turbines have constrained new projects and delayed investment decisions.
3What recent policy and market events are relevant?
Several European auctions failed to draw bids in 2024–2025, and U.S. stop‑orders issued in December were eased by court rulings in February, allowing some projects to resume.
