Offshore wind update: Global cumulative capacity to reach over 100 GW by 2026
posted by AJOT | Dec 14 2017 at 10:14 AM
2017 has represented a positive year for the offshore wind industry, with global cumulative capacity to exceed 100 GW by 2026, according to the latest edition of Westwood’s World Offshore Wind Market Forecast.
While the world’s first full-scale floating wind farm commenced operations in October 2017, September’s contract for difference (CfD) auction in the UK, also saw projects securing strike prices as low as £57.50/MWh (compared with an average of £117/MWh, February 2015).
World Offshore Wind Market Forecast
Cumulative Capacity by Country, 2016-2026Some Key Conclusions:
Total Capex over 2017-2026 is expected to amount to almost €444bn.
Global cumulative capacity is expected to increase from 17.1 GW in 2017 to 102.7 GW by 2026*.
Global Opex over 2017-2026 is expected to amount to €70bn, with approximately 61% of this allocated to China, Germany, and the UK*.
Cables will represent the largest installation segment, with ~46,000km required over the next ten years.
*All figures are inclusive of projects yet to develop past conceptual phases.
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