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The FLAGSHIP project aims to demonstrate the cost-effectiveness of a 10MW floating offshore wind turbine (FOWT) to ensure LCOE reduction in the range of €40-60/MWh in 2030.


Floating offshore wind (FOW) holds the key to an inexhaustible resource potential in Europe to reduce the levelized cost of energy in deep water (>60m). The industry expects costs to reach €100-80/MWh for the first commercial-scale projects using existing proven technologies and reaching the final investment decision between 2023 and 2025. During that period, the FOWT would generate 1GW of cumulative installed capacity in Europe and projects funded at that time could be online within 3 years. Costs are expected to decrease even faster at “mature” commercial scale, reaching €40-60 /MWh in 2030, if proper visibility in terms of volumes and industrialisation is considered.


The FLAGSHIP project will develop the first demonstration of a 10MW floating wind turbine to ensure the reduction of the Levelized Cost of Energy in the €40-60 €/MWh range. This will be demonstrated on a 1:1 scale in the Norwegian North Sea. It is a robust and innovative semi-submersible concrete floating platform that includes an easy-to-install anchor design, innovative designs and mooring configurations, as well as new cable designs with optimised installation and lifetime management procedures.


This project expects to decrease the Levelized Cost of Energy and environmental impacts, while increasing the market value of floating wind energy. The Levelized Cost of Energy measures the lifetime cost divided by energy production, with the objective of calculating the value of the total cost of building and operating a power plant over an expected lifetime.


This project has been financed by the European Union’s Horizon 2020 Research and Innovation programme, under grant agreement No. 875629.

“Flagship is a key step towards reducing the cost of floating offshore wind energy, which will make commercial wind farms a promising option in the field of renewable energy.”



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