Singapore Yards Chase Profit From Europe’s Offshore Wind Push

(Bloomberg) — At a shipyard in northern Singapore, a yellow platform towers over a maze of scaffolding and cranes. Resembling a 15-story building, the piece will be shipped halfway around the world to Europe to be installed into an offshore wind farm.

The 30,000-ton platform, known as a high-voltage direct current converter, is scheduled to leave Seatrium Ltd.’s yard for the North Sea in 2028, where it will sit 60 kilometers offshore and help transmit electricity generated by wind turbines back to land. It’s the latest effort by Singapore to tap into Europe’s green push.

Singapore is repurposing expertise built over decades serving the largest offshore oil and gas companies for the energy transition. One of the biggest opportunities is exporting these enormous converters — known as HVDC platforms — to Europe, where the technology is widely used to transmit offshore wind power over long distances.

The specialized technology is one bright spot in an otherwise battered offshore wind industry. Investment plummeted 72% year-on-year globally to about $12 billion in the first half of 2026, according to BloombergNEF. Yet few yards have the expertise and capacity to build the platforms, threatening a supply bottleneck as the European Union pushes ahead with plans to expand capacity.

This story was originally published by gCaptain. Read the full story at gCaptain →