This Key Component of Europe's Wind Energy Boom Could Become a $20B Market

Offshore substations are vital in collecting and transmitting generated power to the electricity grid.Offshore wind installations are gathering pace worldwide leading to the need for reliable, accessible infrastructure to bring the generated power onshore and into the electricity grid. As a result, demand for offshore substations is booming, especially in Europe. Rystad Energy research and modeling shows that 137 substations will be installed offshore continental Europe this decade, requiring $20 billion in total investment. Over 120 of these facilities…