12 Biggest Offshore Wind Companies

The coming years will witness a revolution in the global energy market, led by offshore wind energy.

Recent data from Emergen Research shows that the offshore wind energy market size is estimated to reach U.S dollars 122.22 billion by 2028.

This growth can be attributed to increasing demands for cleaner electricity in rapidly developing nations like India, China, and Japan, along with technological advancements in the offshore wind energy sector, including floating offshore wind turbines, noise cancellation systems, flexible floating platforms, etc.

A robust supply chain and streamlined processes allow wind turbine manufacturers to introduce new offshore wind turbines to the market in less time. Government policies & incentives to transition to cleaner energy should also be considered.

If present trends continue, the worldwide capacity of offshore wind is expected to reach 270 GW in 2050. Offshore wind companies are making several technological breakthroughs to offer cost-competitive and sustainable energy.

Offshore wind farms are becoming popular since they are sustainable and produce more electricity than onshore wind farms.

Once completed, the Dogger Bank would be the largest offshore wind farm in the world. The 3.6 GW farm is 70 nm off the Yorkshire coast. It is being built in 3 phases and has started supplying electricity to British homes and businesses.

In this article, let us look at the 12 Biggest Offshore Wind Companies in the world, ranked on the basis of installed capacity.

1. Vestas, Denmark

Installed Capacity: 9.5 GW

Vestas was founded in Denmark and is headquartered in Aarhus. It boasts more than 40 years of experience in the wind energy sector.

It designs, manufactures, installs, and services offshore wind turbines, towers, blades, etc. and has serviced over 57,000 turbines across the globe.

A pioneer in sustainable energy solutions, Vestas has over 1700 wind turbines installed at sea and a workforce of 29,000.

The company has over 9.5 GW of installed capacity spread across 51 projects and generated a revenue of USD 15.19 Billion in 2023.

Along with its partners, the company has fitted and maintained turbines in harsh environments such as tsunami-stricken waters and even frozen tundra.

Its first project in Tuno Knob is the oldest commercial offshore wind farm in the world, and its Vestas turbines continue to operate even today.

2. Orsted, Denmark

Installed Capacity: 8.9 GW

A leader in offshore wind power, Orsted is also developing, constructing, and operating solar farms, storage facilities, hydrogen and green fuels, and bioenergy plants.

It is based in Denmark and employs around 8900 professionals. In 2023, its revenue was DKK 79.3 billion (EUR 10.6 billion).

The company has a presence in the United Kingdom, Sweden, Denmark, Poland, the Netherlands, Germany, the United States, Malaysia, Korea, Taiwan, and Japan.

Its wind farms are found along the European coasts, the U.S. and the Asia-Pacific. It has an installed capacity of 8.9 GW of wind power and another 10.3 GW under construction.

Orsted aims to achieve an installed 20 to 22 GW of offshore wind capacity by the end of 2030.

It also boasts of having built the largest number of offshore wind farms, more than any other company, including the world’s first offshore wind farm, the Vindeby, in Denmark in 1991.

3. Vattenfall, Sweden

Installed Capacity: 5.4 GW

This Swedish company is a major offshore wind developer in Europe, with over 1,200 operating turbines. It has a diverse energy production portfolio, of which offshore wind power is just one part.

It is developing the biggest offshore wind farm in Scandinavia, the Kriegers Flak, which was inaugurated in 2021.

The company is also developing the first major offshore wind farm in Finland, which will supply cleaner electricity to over two million homes.

It employs new and innovative technologies in its projects, enabling it to secure more contracts at competitive prices.

The company will construct two offshore wind farms, the Nordlicht I and Nordlicht II, without subsidies from the government. Both farms will have a total capacity of 1.6 GW and will generate enough electricity for over 1.7 million homes in Germany.

4. BW Ideol AS, Norway

Installed Capacity: 5 GW

This Norwegian Company co-develops offshore floating wind projects. It has over 10 years of experience in designing, executing and developing floating wind farms based on its patented floating offshore wind technology and expertise in engineering solutions.

It also offers maintenance services and oversees wind farm projects as a co-owner and developer. It has 2 operational offshore floating wind turbines in Japan and France, as well as other projects across Southeast Asia and Europe.

It has a global presence and has partnered with Eolmed to provide floating foundation technology.

It was incorporated in 2010 and has over 60 employees. It has an installed capacity of 5 GW and generated a revenue of 2.64 billion dollars in 2023.

5. Equinor ASA, Norway

Installed Capacity: 3.6 GW

A significant name in the offshore wind sector, Equinor has projects worldwide, including the first floating offshore wind farm, the 30 MW Hywind Scotland, and the biggest offshore wind farm being constructed in the U.K., the Dogger Bank, which will power 6 million homes.

Equinor is based in Norway and employs over 23,000 people. As of May 28, 2024, its market cap was 86.48 billion USD.

It has a total offshore wind capacity of 3.6 GW and aims to attain an installed capacity of 12-16 GW by the end of 2023. Equinor believes that investments in floating technology are vital, along with cost reduction.

Some of its notable offshore wind farms include Arkona in the Baltic Sea and Sheringham Shoal in the U.K. It is also building wind farm clusters in the U.S. Northeast, Britain, and the Baltic Sea.

6. RWE, Germany

Installed Capacity: 3.3 GW

This energy company is based in Essen, Germany, and has offshore wind turbines in Europe generating 3.3 GW.

It is a driver of innovation in the renewable energy market and has a presence in other sectors as well, including solar, hydrogen, bioenergy, hydropower, and ammonia.

Its target is to have a grid capacity of over 9 GW by the end of 2030, which is possible given its many offshore projects.

The biggest of them include the 1400 MW offshore wind farm called Sofia 1, lying 195 km off the North East Coast of the U.K. and the 342 MW Offshore Wind Farm Kaskasi in the North Sea off Germany, whose components were made from recyclable materials.

7. Northland Power, Canada

Installed Capacity: 3.2 GW

Founded in 1987, Northland Power is one of the first independent power generators in Canada. It is based in Toronto and has offices in 8 nations.

It has 3.2 GW of operating generating capacity along with several projects with a potential capacity of 12 GW.

It has a workforce of 1339 and has many sites and operating facilities.

The company operates onshore and offshore wind farms in Europe and Canada, with an annual production of over 5000 GWh.

Northland Power is presently working on the development of 2 offshore wind projects, the Hai Long in Taiwan with a capacity of 1022 MW and the 1140 MW capacity Baltic Power project in Poland.

It has three offshore wind farms in the North Sea: the Deutsche Bucht, with a capacity of 252 MW, the 600 MW Gemini, and the 332 MW Nordsee One.

8. EDF Renewables North America

Installed Capacity: 3 GW

A renowned name in the Renewable Energy niche, EDF Renewables has a presence in over 20 countries and 4900 employees. This power producer and Service provider has 35 years of experience.

It has four offshore wind projects in France, two in the UK, one in Denmark and one in Belgium.

Its expertise and business model have helped generate thousands of jobs, revitalise coastal communities, and deliver significant amounts of clean and reliable energy.

EDF Renewables North America and Shell New Energies collaborated to form Atlantic Shores Offshore Wind, LLC.

The lease area is 10 to 20 miles off the New Jersey coast and can be developed to produce 2,500 MW of offshore wind energy, enough to power over 700,000 homes.

9. Marubeni Offshore Wind Development (MOWD), Japan

Installed Capacity: 2.6 GW

A subsidiary company of Marubeni Corporation, MOWD is revolutionising Japan’s energy landscape.

It has undertaken key offshore wind projects, such as the 14 MW Akita Port and Noshiro Port Offshore Wind Farms, the first large-scale project in Japan.

The company was incorporated in 2020 and is headquartered in Japan. It has an installed capacity of around 2.6 GW.

It has installed floating wind farms in Fukushima and Kitakyushu, Japan. The company is collaborating with others to expand globally with floating and fixed wind turbines for different coastlines.

Marubeni focuses on building a strong supply chain and working with local economies.

10. Iberdrola, S.A, Spain

Installed Capacity: 1793 MW

Iberdrola company is headquartered in Spain and is among the largest wind energy producers in the world. It employs 40,000 people and serves 30 million customers.

It was formed in 1992 and is committed to the production of clean energy. In 2023, Iberdrola installed 1793 MW of offshore wind facilities and an extra 3000 MW will become operational by 2027.

As of May 28, 2024, Iberdrola has a market capitalisation of 78.24 billion.

The company’s wind farms are in operation or under construction in the U.S., U.K., Sweden, Japan, Brazil, France, Germany, Australia, and Taiwan.

Its biggest offshore wind project is the East Anglia Offshore Wind Complex in the North Sea, UK.

11. Siemens Gamesa Renewable Energy SA, Spain

Installed Capacity: 130 GW (including onshore)

Siemens Gamesa is working to find sustainable solutions in the energy sector, such as floating wind farms and green hydrogen.

They have the latest, highly advanced turbines, such as the SG 14-236 DD and the cost-effective 8 MW SG 8.0-167 DD.

Created in 2017, this company is headquartered in Zamudio-Spain and employs around 29,000 people. It offers customer support through its 50 offices in around 39 countries.

In 2023, the company generated a revenue of 9.1 billion Euros.

It has installed around 130 GW of wind power across the world.

It aims for completely recyclable turbines and is contributing to significant projects such as the London Array Project, which features its 3.6 MW wind turbines.

12. GE Vernova, USA

Installed Capacity: 100 GW+ (including onshore)

Headquartered in Cambridge, Massachusetts, this offshore wind energy company has wind turbines ranging from 6-14 MW. It also manufactures offshore wind turbines.

It invested over 400 million dollars in developing a powerful offshore wind turbine to make offshore wind competitive for its customers.

The Haliade-X is said to be one of the most efficient offshore wind turbines in the world. It has a 22-meter rotor and a 107-meter blade.

The company also provides offshore wind farm services, such as maintaining turbines so they run smoothly.

It has several service centres that offer packages and services to extend the life of offshore wind sector equipment, boost energy production, and optimise its lifecycle. It also offers upgrades and retrofits in line with environmental standards.

Conclusion

Offshore Wind Energy is a promising sector, given the climate and energy targets. Research shows that the number of nations generating power from offshore wind energy will double in the next decade.

With their expertise, experience, and reach, the companies mentioned in the article are working to craft advanced offshore wind technologies and recyclable and resilient wind turbines. They aim to offer competitive rates to their customers and undertake ground-breaking projects and mutually beneficial partnerships.

Effective Transmission systems are also necessary to facilitate the integration of large offshore wind farms into the grid system.

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About Author

Zahra is an alumna of Miranda House, University of Delhi. She is an avid writer, possessing immaculate research and editing skills. Author of several academic papers, she has also worked as a freelance writer, producing many technical, creative and marketing pieces. A true aesthete at heart, she loves books a little more than anything else.

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