Enterprise Singapore (EnterpriseSG) intends to work with industry partners to expand Singapore's global offshore wind network and promote participation in more international projects and innovation opportunities.

EnterpriseSG issued a statement on Wednesday (September 25) saying that EnterpriseSG has signed a memorandum of understanding with the Association of Singapore Marine Industries and the Global Wind Energy Council to jointly promote participation in projects and innovation opportunities in the global offshore wind sector.

The memorandum of understanding was signed at the world's largest wind power event "Hamburg Wind Power 2024" held in Hamburg, Germany.

The statement said that between 2022 and 2030, the global offshore wind power sector is expected to grow at a compound annual growth rate of 20% and reach a value of US$126 billion per year in 2030.