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    Global pipeline for offshore wind reaches 1250GW

    According to estimates from Renewables Consulting Group (RCG), more than 550GW of offshore wind power will be added to the worldwide development pipeline in 2022, bringing the total installed capacity to 1250GW.


    According to RCG’s Annual Market Report for Global Offshore Wind, the US has a 121GW development pipeline, the UK has a 67GW pipeline, China has a 58GW pipeline, and Germany has a 46GW pipeline.


    Throughout 2022, offshore wind auctions took place in nine markets throughout the Americas, Asia, and EMEA.


    Some are for construction sites, power contracts, or frequently both.


    In total, leasing rounds and subsidised tenders launched up to 80GW of capacity for auction.


    Throughout the year, capacity was awarded in both established and emerging areas. While Finland began its first offshore wind bids, ScotWind awarded leases for 24.8GW of capacity.


    ERM Partner and Global Service Lead for Strategy and Markets, Breanne Gellatly, 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 study shows that the market is driven by nations with established procedures for seabed leasing auctions and tenders.


    75% of the 145GW of projects that were either in operation or had obtained offtake power contracts in 2022 were in China, the UK, the US, and Germany.


    The UK and US granted leases to locations with a combined capacity of 24.8GW and 18.4GW, respectively, throughout 2022.


    Despite the national subsidies’ expiration in 2021, commissioning activity remained minimal in China.


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