Navigant Research: New offshore wind installations will top 69GW by 2027

Over 69GW of new offshore wind capacity is expected to be installed between 2018 and 2027, according to a new report from Navigant Research.

By 2030, global offshore wind installed operating capacity will exceed 100GW, according to the study.

Navigant senior research analyst Jesse Broehl said: “Offshore wind will play an increasing role in the broader global energy transition to a more diverse and flexible energy economy. However, due to the capital-intensive nature of this market, the market share analysis by country shows that an increasingly narrow pool of wind turbine manufacturers is providing to this fast-growing market.”

Regionally, offshore wind is quickly becoming more cost-effective with each successive competitive tender in Europe, according to Navigant, with industry-leading countries, such as the UK, the Netherlands, Denmark, Germany, and Belgium, well into a transition phase to market-oriented policies that include highly competitive bidding for power contracts.

Meanwhile competitive bidding has also begun in the US ahead of offshore project installations along the northeastern seaboard, the consultancy observed.

26 February 2019