World offshore wind is gearing up for a comeback in 2025, with new capability additions anticipated to hit 19 gigawatts (GW) and spending projected to soar to $80 billion, in keeping with Oslo-based unbiased vitality analysis agency Rystad Power. That’s a giant rebound after a sluggish finish to 2024 when new installations dropped to round 8 GW – 2 GW decrease than in 2023.
A report variety of lease auctions is fueling the restoration. Mainland China, the world’s largest offshore wind market, is main the cost, accounting for 65% of latest capability. That enhance means 2025’s whole additions will surpass the earlier peak in 2021 by about 1 GW. For context, 2024 noticed 7.7 GW added, 2023 hit 10.2 GW, and 2022 got here in at 9.3 GW.
Floating wind, the place generators are put in on floating platforms as an alternative of fastened foundations, has seen an uptick in venture bulletins. However provide chain points, much like these in bottom-fixed offshore wind farms, are slowing issues down. Proper now, floating wind is predicted to remain beneath 7 GW of whole capability by 2030 except governments step up assist to assist the sector scale.
Lease agreements, the long-term contracts between wind vitality firms and landowners, are additionally dealing with some uncertainty. In 2024, a record-breaking 55 GW of offshore wind capability (excluding mainland China) was up for grabs in lease auctions worldwide. However supplied capability doesn’t at all times translate into awarded capability. Living proof: the US had zero bids for its 3 GW floating wind public sale in Oregon, whereas the Gulf of Maine public sale awarded about 7 GW of the 13 GW on the desk.
Wanting forward, lease public sale openings are anticipated to dip in 2025, with round 30-40 GW more likely to be accessible. That’s a drop from 2024’s report ranges however nonetheless in step with what the trade noticed in 2021 and 2022. Whereas the offshore wind trade faces some hurdles, the momentum heading into 2025 suggests a sector gearing up for main progress – if it might probably navigate the challenges forward.
“World offshore wind is about for a sturdy 12 months in 2025; nevertheless, sure alerts might have an effect on its easy upward trajectory,” mentioned Petra Manuel, senior offshore wind analyst at Rystad Power.
“US federal coverage is creating vital world ripple results, hindering offshore wind improvement, particularly the place a big portion of auctioned capability lies.
“President Donald Trump’s January memorandum halting new leasing and approvals on the Outer Continental Shelf (OCS), citing environmental and security considerations, might final all through his time period, pausing new developments and creating continued uncertainty for ongoing tasks.”
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