Japan, South Korea and Taiwan could together uncork a 10GW-plus pipeline of floating wind projects that would pull in almost $60bn in investment to the region in the next decade, according to latest market calculus from Wood Mackenzie.

The research group expects the build-out to accelerate as the ‘per megawatt’ capital expenditure drops some 40% to around $3m “by 2025-2030”, as the first gigawatt-plus wave of floating capacity is built off Asia.

“Floating offshore represents perhaps the largest frontier for wind power in Asia Pacific in the long-term,” said Wood Mackenzie principal analyst Robert Liew.