The GWEC report predicts strong growth in global offshore wind energy

In 2023, despite macroeconomic challenges facing the industry in some key markets, the wind industry installed 10.8 GW of new offshore wind capacity, bringing total global capacity to 75.2 GW. New generation capacity increased by 24 percent compared to the previous year, and the World Wind Energy Council estimates that growth rate will continue through 2030 if current policy momentum continues.

GWEC forecasts that 410 GW of new offshore wind capacity will be installed over the next ten years, bringing offshore wind development in line with global goals of 380 GW installed by 2030. The majority of this capacity is expected to come at the turn of the decade, with two-thirds installed in 2029–2033. This rapid development of implementation must be based on increasing collaboration between industry and government and the creation of a streamlined and effective policy and regulatory framework.

This projected growth will be driven by the emergence of the next wave of offshore wind markets such as Australia, Japan, South Korea, the Philippines, Vietnam, Brazil, Colombia, Ireland and Poland – where policy developments and unprecedented focus from governments, industry and civil society are creating conditions for the long-term development of large-scale offshore wind energy.

The report outlines a “Global Growth Framework for Offshore Wind” for industry and governments planning to rapidly scale up development, covering finance, industry demand and utilization, supply chain development, permitting, social consensus, workforce development and network infrastructure. GWEC’s position is that projected growth will be at risk if this framework is not implemented.

“The installation of almost 11 GW of offshore wind energy is the beginning of a new wave of offshore wind development,” said Ben Backwell, CEO of the Global Wind Energy Council. “Policy progress – particularly in Asia-Pacific and the Americas – has put us on course to regularly install record capacity each year and exceed the Global Offshore Wind Alliance’s 380 GW capacity target. This means that offshore wind is on track to triple the ambitions set for COP28 in Dubai. Offshore wind energy is now much more than just a European, Chinese or American story. Over the past year, GWEC has seen rapid progress in new markets where key drivers of offshore wind are already at work – from government commitments for sustainable economic growth, to increased consumer demand and industrial decarbonization.”

Additional information:

Global Wind Energy Council (GWEC)

Global Offshore Wind Report 2024