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The next few months will see 37 proposals for huge wind farms off Victoria whittled down to five or six, but costs and resources remain big challenges. ....
Japan is aiming to award 10 gigawatts of offshore wind capacity by the end of the decade, spurring a contest for the contracts to build the projects. ....
Expenditure splash of $810 billion is expected for the offshore wind industry this decade May 06, 2021 OSLO The offshore wind industry’s global installed capacity is set to exceed 250 gigawatts (GW) by 2030, driven by a surge in coming projects, a Rystad Energy report shows. The combined capital and operational expenditure for the decade is set to add up to an eye-popping $810 billion, signaling an increasing shift of investments from oil and gas to renewable energy technologies. The cumulative installed capacity of global offshore wind projects climbed to 33 GW in 2020 a significant achievement for an industry that has nearly tripled its size since 2016. We expect the world’s installed capacity to hit an estimated 109 GW by 2025 and rise further to 251 GW by 2030, growing by 22% a year on average. ....
Offshore wind investment to surge to 2030 Growth accelerates in Asia, but Europe remains dominant market Global spending on offshore windfarms will hit $56bn in 2021 and rise to $126bn in 2030, according to consultancy Rystad Energy. Integrated oil companies in Europe last week used their quarterly earnings reports to reiterate the importance of offshore wind in their energy transition strategies. “The colossal level of investments anticipated in the offshore wind industry this decade reflects the ambitious targets set by companies and governments alike,” says Petra Manuel, offshore wind analyst at Rystad Energy. $126bn – Projected annual spend on offshore wind by 2030 “As the market matures and economies of scale are achieved, investments could surge further, sparking even more ....