Electric Power, Energy Transition, Renewables
February 06, 2025
Global offshore wind capacity climbs past 80 GW, up 15% on year: RenewableUK
HIGHLIGHTS
China driving capacity growth by installing 6.9 GW; the Netherlands adds 1.7 GW
China also leads installed capacity with 40 GW, UK second at 14.7 GW
High hopes for forthcoming UK offshore-wind allocation round in summer
Global operational offshore wind capacity has reached 80.9 GW, rising 15% on the year, data from industry body RenewableUK showed Feb. 6.
China accounted for much of the additions, installing 6.9 GW, with a further 1.7 GW coming online in the Netherlands, RenewableUK said in a statement, as it launched its latest Offshore Wind EnergyPulse Insights report.
"The global offshore wind market is continuing to grow at an extraordinary speed year after year, as more countries look to seize the industrial, economic and environmental opportunities which the technology offers," RenewableUK CEO Dan McGrail said in the statement.
China has over 40 GW of installed capacity, with the UK in second place with 14.7 GW installed.
The trade association expects the growth in capacity to continue, with the number of projects in the global development pipeline climbing to 1,555, from 1,461 over the previous 12 months.
China has 247 GW in the project pipeline, which includes projects at all stages of development. The UK has 96 GW of projects, followed by the US with 79 GW, Germany with 68 GW and Sweden with 55 GW.
RenewableUK said 13 UK offshore wind projects were eligible to bid into the forthcoming Contracts for Difference Allocation Round 7 in the summer, with a total capacity of 7.3 GW, around half of the current installed capacity.
The UK awarded 5 GW of offshore wind under the AR6 CfD in September, with a strike price of GBP54.23/MWh ($71.17/MWh, rebid) and GBP58.87/MWh (new), considerably below the government's increased bid ceiling of GBP73/MWh (all 2012 prices).
"The UK remains a world leader in this race, and the government could strengthen that position further in the coming months by maximizing investment in new offshore wind capacity in this year's auction for new projects, as well as prioritizing measures to support the growth of the UK supply chain in its upcoming Industrial Strategy," McGrail said.
Platts, part of S&P Global Commodity Insights, assessed GB offshore wind capture prices at GBP110/MWh ($137/MWh) Feb. 5.
