New research published by RenewableUK’s EnergyPulse data analysts shows that the global pipeline for offshore wind projects at all stages of development now stands at 1,174 gigawatts (GW) across 1,417 projects in 38 countries – an increase of 508 GW over the past 12 months. Fully developing that offshore wind capacity could meet 20 per cent of global electricity demand.
In the UK, the current pipeline now stands at 99.8 GW across 130 projects – an increase of 14 GW over the past 12 months. This includes 13.7 GW of fully operational capacity and a further 13.6 GW under construction or with support secured for a route to market.
While the UK retains the second largest pipeline, accounting for 8.5 per cent of the global total, this is the first time that it has fallen below 10 per cent, reflecting the rapid growth of new markets like Australasia and South America.
In terms of global operational capacity, which is now 60 GW, China is in the lead with 47 per cent (28.3GW), while the UK retains its position as the second largest with 23 per cent (13.7GW).
90 per cent of the new offshore wind capacity which went operational in 2022 was in two markets: China (3.8GW) and the UK (3.2GW). China and the UK are expected to retain first and second place until at least 2030.
“The UK retains a powerful position in offshore wind, second only to China, but we are seeing incredible growth in new markets like Australia, the USA and Brazil,” said RenewableUK’s chief executive, Dan McGrail. “Since the invasion of Ukraine, there has been a global step-change in offshore wind which is a challenge to our current position as a world leader.
“There is now fierce global competition for investment in not only wind farms, but also manufacturing facilities and supply chains. The US and EU are offering massive financial incentives for renewable energy, while in the UK the Government has been raising taxes on clean energy. These figures underline the need for bold action to attract the billions in private investment we need, otherwise the UK risks being left behind in the years ahead, with money and jobs going to more attractive global markets.”