The global offshore wind industry is poised for a rebound in 2025, with capacity additions expected to reach 19GW and sector-wide expenditure projected to hit $80 billion, according to research from Rystad
The global offshore wind industry is poised for a rebound in 2025, with capacity additions expected to reach 19GW and sector-wide expenditure projected to hit $80 billion, according to research from Rystad Energy.
This recovery follows a slowdown at the end of last year, when new installations dropped to approximately 8GW, which is 2GW lower than the year prior.
A record wave of lease auctions is driving the resurgence, with the world’s largest offshore wind market, mainland China, accounting for 65% of new capacity. With this increase, total additions will exceed the previous peak in 2021 by about 1GW, surpassing the 7.7GW added in 2024, 10.2GW in 2023 and 9.3GW in 2022.
A record 55GW of offshore wind capacity was offered in lease auctions globally (excluding mainland China) in 2024. However, not all this capacity has yet been awarded, as offered capacity does not always translate into awarded capacity. For instance, the US saw no bids for its 3GW floating wind auction in Oregon last year, while the Gulf of Maine auction awarded roughly 7GW of the approximately 13GW offered.
Despite 2024's record offerings, lease auction openings are projected to decline in 2025, with an expected 30-40GW available. While significantly
Content Original Link:
" target="_blank">
