July 24, 2020 Read More →

RenewableUK: Global offshore wind pipeline now totals 159GW

S&P Global Market Intelligence ($):

The global pipeline of offshore wind projects grew 30% over the past year to reach 159 GW, with more and more countries outside Europe seeing an influx of developers jockeying for gigawatt-scale projects.

U.K.-based industry body RenewableUK said July 22 that both new and established markets have seen ballooning development activity over the past 12 months, although the U.K. will remain in pole position for quite some time. The group’s latest tally of planned projects around the world showed the country in a dominant position with a 38.9-GW pipeline, or a quarter of the global total.

That compares to 19.3 GW in China, where the pipeline has swelled by 60% from 12 months ago, 17.8 GW in the U.S. and 16.5 GW in Germany. Other markets that have seen high growth over the past year include the Netherlands and Ireland, with Poland, Denmark and Vietnam rounding out the top 10.

“Other countries are following [the U.K.’s] lead and catching up fast, but we remain by far the biggest market for offshore wind in the world,” Melanie Onn, RenewableUK’s deputy chief executive, said in a statement.

Britain’s fourth allocation round for contracts for difference, or CfDs, will take place in 2021 and has been reopened to onshore wind and solar, although offshore wind capacity is still expected to dominate the auction.

During the last U.K. auction in 2019, prices reached record lows of between £39.65/MWh and £41.61/MWh, in 2012 currency, with a total capacity of nearly 5,500 MW awarded to developers including SSE PLC, Equinor ASA and Innogy SE. The latter’s renewable energy business is now part of RWE AG.

[Yannic Rack]

More ($): Global offshore wind pipeline swells to 159 GW, industry body says

Comments are closed.