Floating Power Plant Market Major Advancement in Ciel & Terre Internationals

Published: 13 Nov 2024

Author: Precedence Research

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Ciel & Terre International is one of the pioneers in the floating power plant market. The company began an installation of Europe’s largest floating power plant called the Ilots Blandin project in Haute-Marne in France. The project has been in the pipeline since 2019 with the installation process finally commencing in July 2024. This project is initiated by Q Energy, it will have an installation of 72.3 MWp of floating solar power as well as 2 MWp on the ground built by Perpetum. This floating photovoltaic power plant will be the largest and one of its kind projects in Europe. Such projects further drive the growth of the floating power plant market worldwide. 

• Countries of the Asia Pacific region like China and India are bracing to be the leading countries of floating power plant market. The rising adoption of renewable sources of energy combined with developing infrastructure is a big boost for the market and an impactful region for leading companies. 

The growing need across the world for alternative and renewable sources of energy is a key factor for the rising demand in this market. Companies like Cier & Terre International continue creating innovative ways for producing renewable energy where location might create problems and also, complement the facilities that already exist for energy generation. The floating power plants can complete the requirements for sustainable and clean energy sources. 

Floating Power Plant Market Size and Forecast

The floating power plant market size is calculated at USD 1.53 billion in 2024 and is predicted to increase from USD 1.65 billion in 2025 to approximately USD 3.32 billion by 2033. The global market is representing a solid CAGR of 8.98% from 2024 to 2033.

Floating Power Plant Market Highlights

• Asia Pacific led the market and contributed the highest market share of 38.59% in 2023. The growing adoption of offshore wind energy, combined with rising concerns over environmental sustainability and energy security, particularly in countries like China, India, and Japan, has positioned Asia Pacific as a key player in the floating power plant sector.
• By power source type, the non-renewable segment accounted for the largest market share of 79.10% in 2023. 
• By power rating type, the high-power segment generated the biggest market share of 46.67% in 2023.
• By power rating type, the medium-power segment is expected to grow at the fastest CAGR during the forecast period.

Market Report Coverage

Floating Power Plant Market Major Companies

• Ciel & Terre International
• Caterpillar Inc.
• Floating Power Plant A/S
• General Electric Company
• Ideol SA
• Kawasaki Heavy Industries, Ltd
• Kyocera Corporation
• MAN Disel & Turbo SE
• Seatwirl AB
• Siemens Gas and Power GmbH & Co.
• Wartsila

Recent Highlights from Floating Power Plant Companies

• The largest floating solar power plant in the world is set to be established at Omkareshwar, Madhya Pradesh India. This plant will have a capacity of 600 MW. The project is groundbreaking and will take an incredible step towards production of sustainable energy in India. 
• TetraSpar, a pioneering company in the floating wind sector, successfully demonstrated its floating wind platform off the coast of Norway in early 2024. This technology aims to make floating wind energy more accessible and affordable. The company has completed several test runs, and the platform has achieved stable energy generation even in challenging offshore conditions.
• In June 2024, one of the leading companies in the floating power plant market, Floating Power Plant A/S, bought a wind turbine from Siemens Gamesa Renewable Energy for a demo project. This project is located off the Gran Canaria, Spain.

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