More than 550GW of offshore wind capacity was added to the global development pipeline in 2022, taking the cumulative total to 1250GW, according to research from Renewables Consulting Group (RCG).
The US has a development pipeline of 121GW, the UK 67GW, China 58GW and Germany 46GW, according to RCG’s Annual Market Report for Global Offshore Wind.
Offshore wind auctions occurred across nine markets within EMEA, APAC, and the Americas throughout 2022.
Some are for project sites, power contracts and in many cases both.
In total, up to 80GW of capacity was launched for auction through leasing rounds and subsidy tenders.
Both mature and newer markets allocated capacity throughout the year. ScotWind awarded leases to 24.8GW of capacity while Finland launched offshore wind tenders for the first time.
Breanne Gellatly, ERM Partner and Global Service Lead for Strategy and Markets, said: “The Russian invasion of Ukraine reminded every nation of the importance of energy independence and sustainability, and this resulted in increased offshore wind targets and pipelines during 2022.
“As countries continue to further develop their offshore wind frameworks, backed by accelerated renewables targets due to global energy security concerns, the global offshore wind industry is expected to continue to grow at an accelerated rate and expand into new territories.”
The report demonstrates that the countries which have proven seabed lease auctions and tender frameworks in place drive the market.
Four countries (China, UK, US and Germany) comprised 75% of the 145GW of projects that were in operation or secured offtake power contracts during 2022.
Throughout 2022, the UK and US awarded leases to sites with a combined capacity of 24.8GW and 18.4GW, respectively.
Commissioning activity in China continued at a moderate rate, despite the expiry of the national subsidies in 2021.