Renewable energy technologies are witnessing a fast-paced growth globally at 8.33%, supported by government policy. Offshore wind technology,
although a recent entrant into the arena, has already witnessed a cumulative capacity of 8,771 MW in 2014, representing a sizeable 12.6% of the
annual EU wind energy market. This is expected to grow to 40 GW by 2020. The UK, Denmark, Germany, Belgium and China are currently the leading
countries in installing offshore wind turbines and expected to contribute to most of this growth in installed capacity.