Expectations for the expansion of offshore wind up to 2030 are significantly lower than just a year ago. In the international industry organization Global Wind Energy Council (GWEC) annual report on developments in the offshore wind industry, expectations for the expansion of offshore wind globally are downgraded by 24 percent. In Europe alone, expectations have fallen by 30 percent in just one year, and in North America they have fallen by a whopping 48 percent. This is reported by Finans.
According to GWEC, the reason is a mix of rising prices, interest rate increases, political uncertainty and failed tenders, including in Denmark and the UK. However, the most significant headwind comes from the USA, where President Donald Trump's policies have significantly worsened the conditions for offshore wind. This means that the expected expansion in North America now amounts to only 5.8 gigawatts, compared to the previous 11.1 GW.
- The explanation is simple, and I have the headlines right here: macroeconomic challenges, failed offshore wind tenders, limited supply chains and increased political uncertainty, says Feng Zhao, research director at GWEC.
Despite the current setback, expectations for offshore wind beyond 2030 are unchanged, GWEC emphasizes. This is because many projects have simply been postponed – not abandoned.
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