380 GW of new offshore wind built by 2032
By:
Chris Anderson
28/08/2023
GWEC
Whilst pointing out that
industry and government must work together to speed up licensing, permitting
and grow the supply chain in order to deliver on enormous potential, Offshore
wind is primed for rapid expansion in new markets this decade.
It went on to point out that the global offshore wind industry delivered
its second best year for new capacity ever in 2022, with 8.8 GW of new
clean energy connected to the grid around the world.
GWEC's report forecasts that a massive 380 GW of new offshore wind will
be built by 2032 – nearly half of which will come from the Asia-Pacific
region. The size of the potential in the APAC region, combined with the
number of new countries turning to offshore wind for their energy needs,
marks the next frontier for this exciting technology. More than 180 GW
capacity has been identified in the region outside of China, with Australia
alone accounting for more than 50GW.
Offshore wind at this scale would abate approximately 650 MT of CO2 and
generate competitive clean electricity equivalent to three times Australia’s
total energy consumption in 2022; while also creating new green industries
and hundreds of thousands of jobs across the region. Offshore wind would
be transformative for the APAC region.
The central challenge governments now face is in realising this potential.
Unprecedented collaboration, cooperation and investment across the world
is needed to help overcome the hurdles the industry faces.
"Governments and industry will need to face head-on the challenges
the sector faces around supply chain, permitting and policy in order to
build future-proof markets. By solving these challenges we can build a
strong, resilient global offshore wind industry..." Ben Backwell,
CEO, GWEC
The Global Offshore Report 2023 also points to the risks of inadequate
policy frameworks and too timid approaches: while increasing its forecast
for APAC, GWEC has downgraded its near-term forecast for Europe and North
America by 17% due to delays caused by permitting and other regulatory
issues, while supply chain bottlenecks are a risk for every region except
China. On the other hand, GWEC’s longer-term forecast offers hope with
the prospect of strong growth from 2028-32.
Ben Backwell, CEO, GWEC, said: “The offshore wind sector has delivered
another year of impressive growth to reinforce last year’s record numbers.
This report outlines that the potential is there for record growth every
year from now on. This would deliver a transformed, clean, secure energy
system – particularly in the Asia-Pacific region.
“However, governments and industry across the world will need to work
together if this potential is to be realised, while trade and industrial
policies will need to focus on partnership and collaboration to deliver
investment and growth.
“Governments and industry will need to face head-on the challenges the
sector faces around supply chain, permitting and policy in order to build
future-proof markets. By solving these challenges we can build a strong,
resilient global offshore wind industry that can provide a clean and secure
foundation for economies around the world, and ensure we meet our climate
targets.”
"We believe that by working collaboratively with governments, consumers,
suppliers, workers, and communities we will be able to ensure that the
benefits of offshore wind growth are shared fairly by all stakeholders."
Ross Rolfe, Iberdrola Australia’s Chairman and CEO
Rebecca Williams, Global Head of Offshore Wind, GWEC, said: “Offshore
wind is now poised for a new frontier of growth with a diverse set of countries
across the world taking forward offshore wind plans. However, the sector
is also at a critical juncture. The time has come to take a new, simpler
approach to policy for offshore wind. Such an approach should prioritise
the delivery of large volumes of offshore wind, supported by incentive
based industrial policies to deliver the socio-economic benefits the world
now expects from the industry.”
Iberdrola Australia’s Chairman and CEO, Ross Rolfe, AO, said: “Iberdrola
is delighted to be the principal sponsor of the 2023 GWEC Global Offshore
Report. The report highlights the critical role of offshore wind in achieving
decarbonisation targets across the world. A key theme of the report is
the rapid growth of offshore wind in Asia Pacific, a region that is expected
to host almost half of the new offshore capacity out to 2030. Iberdrola
has played a pioneering role in the green energy transition for more than
twenty years and, as we look to the horizon, we believe offshore wind will
play a critical role in delivering a reliable and affordable green energy
future for Australia, for APAC and for the global economy in general. We
believe that by working collaboratively with governments, consumers, suppliers,
workers, and communities we will be able to ensure that the benefits of
offshore wind growth are shared fairly by all stakeholders.”
