This milestone comes after nearly seven years of dedicated work on the wind farm, with the first turbine generating fossil-free electricity on November 10, 2023.

Under the agreement, Vestas will supply 33 units of the V236-15.0 MW wind turbine, specifically designed for floating foundations.

Although Statkraft has been one of the prominent onshore renewables developers in Britain, with a significant presence and knowledge of the market, the company is evaluating potential opportunities in offshore wind.

Although there has been a retracement due to higher costs and tougher markets, she emphasized that the industry remains economically viable.

This surge in demand has created a potential threat to the metal supply for crucial sectors which rely on nickel for various equipment applications in demanding environments.

This collaborative effort united 38 prominent companies from various sectors within the industry, emphasizing the collective resolve to address the distinctive challenges associated with floating offshore substations.

REN, the nation's energy manager, confirmed this exceptional feat on Monday, highlighting the significant progress made in Portugal's sustainable energy endeavors.

This crucial step underscores the project's commitment to meticulous planning and sustainable infrastructure development, supporting its ambitious clean energy goals.

The proposed project, with an estimated value of USD 1.3 billion, aims to establish Bangladesh's inaugural 500 MW utility-scale offshore wind energy facility, marking a significant step toward the country's renewable energy objectives.

Both nations have committed to strengthening collaboration in various key areas to accelerate the transition to renewable energy and promote sustainable practices.