Global offshore Wind Operational Capacity Reaches Nearly 70 GW

The global operational capacity of offshore wind energy has reached nearly 70 GW, with approximately 25 new offshore wind farms commissioned in 2023, adding a total capacity of 9.8 GW. This increase brought the global offshore wind capacity to a total of 67.4 GW. China remains the leading nation in offshore wind capacity, with a total of 31.5 GW. Additionally, China experienced rapid growth in offshore wind farms, adding approximately 5 GW of operational capacity in 2023.

The industry faced significant challenges in 2023. Despite the continued awarding of leases and projects, cost inflation and mismatched support levels resulted in delays or cancellations of proposed capacity build-outs. Developers responded by recalibrating portfolios and taking time to pause and refocus their strategies. Currently, under-construction offshore wind projects around the world are expected to contribute up to 16 GW of operational capacity.

Find Global Offshore Wind
Projects and Tenders           Get Started Now!

In 2023, a total of 42 GW of lease capacity was awarded, and it is anticipated that over 70 GW of awards will be made in 2024. These awards will come from a mix of established markets and emerging ones, such as Australia (at least 9.2 GW), India (4.6 GW), and Portugal (3.5 GW).

The industry's growth trajectory is expected to continue, with lease capacity awards anticipated to surpass 70 GW in 2024, representing a 67% increase from 2023. The future of the offshore wind industry looks promising, with the International Renewable Energy Agency (IRENA), the Global Wind Energy Council (GWEC), and the Government of Denmark partnering to establish the Global Offshore Wind Alliance (GOWA).

This alliance aims to add an average of 35 GW annually throughout the 2020s and a minimum of 70 GW each year from 2030, ultimately reaching 2,000 GW by 2050. Upcoming offshore wind projects in the world will play a pivotal role in achieving this goal.

About World Forum Offshore Wind

The World Forum Offshore Wind (WFO) is a leading global business platform dedicated to the offshore wind industry. It operates as an independent non-profit organization, connecting and supporting its members to help make offshore wind one of the world's leading sources of renewable energy.

WFO's members span the globe and cover the complete offshore wind value chain. This includes utilities, manufacturers, service firms, and other non-profit organizations.

Read: Alinta Energy and JERA Nex Form Joint Venture to Develop 1 GW+ Spinifex Offshore Wind Farm

Looking for More than Generic Information on Offshore Wind Projects Around the World?

Subscribe to Offshore Wind Projects around the world

to get access to reliable and high-quality insights on upcoming, in-progress, and completed desalination plant projects across the world or in your desired geographical location.

Our user-friendly platform provides essential details, timely updates, key stakeholder contact information, and business opportunities tailored for engineering companies, industry professionals, investors, and government agencies.

Start a free demo to take your business to the next level