Published by Global Banking & Finance Review®
Posted on February 26, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on GoogleTechnip 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.
By Vera Dvorakova and ELENA SMIRNOVA
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.
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.
"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.
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.
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 by Vera Dvorakova and Elena Smirnova in Gdansk; Additional reporting by Olivier Cherfan; Editing by Milla Nissi-Prussak)
Technip Energies’ CEO says demand in the floating wind market is much smaller than expected, reflecting wider headwinds for offshore wind projects.
High project costs and the limited number of suitable environments for floating turbines have constrained new projects and delayed investment decisions.
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.
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