Offshore Wind to Surge to 234 GW by 2030, Create 900K Jobs: GWEC

Global offshore wind capacity will surge to over 234 GW by 2030 from 29.1 GW at the end of 2019, led by exponential growth in the Asia-Pacific region

Global offshore wind capacity will surge to over 234 GW by 2030 from 29.1 GW at the end of 2019, led by exponential growth in the Asia-Pacific region and continued strong growth in Europe, according to a new report from the Global Wind Energy Council (GWEC).

GWEC has released the second edition of its Global Offshore Wind Report, which finds that 2019 was the best year on record for offshore wind, with 6.1 GW of new capacity added globally, bringing total global cumulative installations to 29.1 GW. China remained in the number one spot for the second year in a row for new installations, installing a record 2.4 GW, followed by the UK at 1.8 GW and Germany at 1.1 GW.

The report goes on to highlight, that while Europe continues to be the leading region for offshore wind, countries in the Asia-Pacific region, such as Taiwan, Vietnam, Japan, and South Korea, as well as the US market are quickly picking up the pace and will be regions of significant growth in the next decade.

It forecasts that through 2030, more than 205 GW of new offshore wind capacity will be added globally, including at least 6.2 GW of floating offshore wind. This represents a 15 GW increase from the forecasts in the pre-COVID forecast, demonstrating the resilience of the sector to play a major role in powering both the energy transition and green recovery.

Ben Blackwell, CEO at GWEC said “offshore wind is truly going global, as governments around the world recognise the role that the technology can play in kickstarting post-COVID economic recovery through large-scale investment, creating jobs and bringing economic development to coastal communities. Over the coming decade, we will see emerging offshore markets like Japan, Korea and Vietnam move to full deployment, and see the first offshore turbines installed in a number of new countries in Asia, Latin America and Africa.

“The report shows that 900,000 jobs will be created in the offshore sector over the next decade – and this number can only increase if policymakers put in place recovery strategies that can further accelerate the growth of the sector. Furthermore, 1 GW of offshore wind power avoids 3.5 MT CO2 – making it the most effective available large-scale technology to avoid carbon emissions and displace fossil fuels in many geographies.”

The report goes on to add that the global offshore market has grown on average by 24 percent each year since 2013. And that Europe remains the largest market for offshore wind as of the end of 2019, making up 75 percent of total global installations, and it will continue to be a leader in offshore wind, with an ambitious 450 GW goal by 2050 driven by installations in the UK, Netherlands, France, Germany, Denmark and Poland, with several other EU markets posting double-digit volumes.

The report then goes on to highlight the increased activity level in the Asia-Pacific region thanks to increased national ambition, led by China where 52 GW of new offshore wind capacity is expected to be installed by 2030. Taiwan is set to become the second-largest offshore wind market in Asia after Mainland China, with a goal of 5.5 GW by 2025 and an additional 10 GW by 2035. Other markets in the region are also beginning to scale-up their offshore wind markets, with Vietnam, Japan and South Korea expected to install 5.2 GW, 7.2 GW and 12 GW of offshore wind capacity respectively.

India however, is set to miss out on its first national offshore wind target. In India, nearly 70 GW potential has been earmarked for offshore wind development off the coasts of Gujarat and Tamil Nadu. However, the tender for the first 1 GW project in the Gulf of Khambhat in Gujarat has been delayed and attention has now turned to the stronger wind resource area off Tamil Nadu.

The report finds that offshore wind in India is expected to compete with cheaper land-based renewables and it has stalled the market. However, when that period will arrive is still unclear.