Offshore wind has reached an inflection point.
Consider the following…
- Global electricity demand is expected to grow by 60% from 2020 to 2040¹
- 63% of the world’s electricity is generated from oil, coal and natural gas²
- >50% of global emissions are now covered by a net-zero target³
- The IEA projects global offshore wind power capacity is set to increase 15-fold by 2040⁴
- For the first time ever, offshore wind capital expenditure recently overtook that of offshore oil and gas³
- Annual offshore wind installations are expected to quadruple by 2025³
- The estimated 5-year CAGR for offshore wind power generation is 30%³
When compared to onshore wind, offshore wind tends to be:
Faster, cooler, heavier, more consistent
These factors combine to make offshore wind more powerful
and hence more efficient.
Offshore wind turbines can be:
- Larger and taller, allowing for more electricity generation per unit
- Close to population centers which are often near coastlines
- Far enough offshore to have limited or no visual impact
These factors combine to enhance the social license of
Global Offshore Wind Report
The latest comprehensive offshore wind report from the
Global Wind Energy Council.
World Bank‘s analysis of offshore wind potential
This analysis and interactive map from the World Bank’s Energy Sector
Management Assistance Program shows the technical generation capacity
of offshore wind. “One percent of the global offshore wind resource could
generate enough electricity to meet current global demand.”
4C Offshore‘s world map of offshore wind projects
This interactive map plots the world’s offshore wind farms, from concept
to production, with optional overlays including average wind speeds,
locations of ports, vessels and cables.