Offshore Wind Capacity to Exceed 100GW by 2030

The offshore wind power industry continues to grow at a steady pace - over 69 GW of new offshore wind capacity is expected to be installed between 2018 and 2027, exceeding 100 GW of operating capacity by 2030.

According to a new report from Navigant Research, offshore wind will play an increasing role in the broader global energy transition to a more diverse and flexible energy economy.

Though less offshore wind is installed annually compared to onshore wind, it remains an abundant clean energy solution for many coastal load centers where a greater proportion of population and energy demand is located.

“Offshore wind will play an increasing role in the broader global energy transition to a more diverse and flexible energy economy,” says Jesse Broehl, senior research analyst with Navigant Research. “However, due to the capital-intensive nature of this market, the market share analysis by country shows that an increasingly narrow pool of wind turbine manufacturers is providing to this fast-growing market.”

Regionally, offshore wind is quickly becoming more cost-effective with each successive competitive tender in Europe. Industry-leading countries like the UK, the Netherlands, Denmark, Germany, and Belgium are well into a transition phase to market-oriented policies and include highly competitive bidding for power contracts.

Competitive bidding has also begun in the US ahead of offshore project installations along the Northeastern seaboard.

Current News

SLB Narrowly Beats Quarterly Profit Estimates

SLB Narrowly Beats Quarterly P

Vard Books Construction Order for CSOV Pair

Vard Books Construction Order

ABL to Deliver Grid Works for 600MW French Offshore Wind Farm

ABL to Deliver Grid Works for

Cadeler Adds Wind Keeper WTIV to Fleet, Locking in Long-Term Vestas Deal

Cadeler Adds Wind Keeper WTIV

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine