New research published today by RenewableUK’s EnergyPulse data analysts shows that the global pipeline for offshore wind projects now stands at 1174 GW across 1417 projects in 38 countries – an increase of 508 GW over the past 12 months. The UK’s contribution to this is a pipeline of projects at all stages of development that now stands at 99.8 GW across 130 projects – an increase of 14GW 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.
The UK’s pipeline is 8.5% of the global total – the first time that it has fallen below 10%, as new markets have emerged in Australasia and South America:
In terms of global operational capacity, which is now 60 GW, China is in the lead with 47% (28.3GW). The UK is the 2nd largest with 23% (13.7GW):
90% of the new offshore wind capacity that went operational in 2022 was in two markets: China (3.8GW) and the UK (3.2GW). China and the UK are expected to retain their first and second places until at least 2030.
RenewableUK’s chief executive Dan McGrail commented “As as our latest report shows, new markets are emerging fast in places like Australia and Brazil. The US and EU are offering [huge] financial incentives for developers to build renewable energy projects – while in the UK we’re being taxed more heavily than oil and gas companies. Unless we take bold action to attract billions in private investment, [the UK risks] being left behind in the years ahead – the money will simply go elsewhere”.
Image courtesy of Pixabay