China will make up more than a quarter of all offshore wind power by 2030.
That’s the prediction from GlobalData, which forecasts new capacity additions from China, the UK and the US will drive global capacity, causing it to soar sevenfold by the end of the decade.
It expects China will lead the race, accounting for in excess of 25% of capacity by this time, followed by the UK with 16% and the US wit 11%.
The study suggests “conducive policy initiatives” and strong national or provincial government targets will fuel China’s “sizeable offshore project pipeline” – GlobalData believes around 60GW of ventures are currently in the pipeline under different stages of development and estimates the nation boasts harnessable onshore potential of 2,380GW and 600GW of offshore potential.
Ankit Mathur, Practice Head of Power at GlobalData, said: “ GlobalData’s analysis reveals that China is anticipated to spearhead the global capacity from 2021 onwards, shaping above 25% of the global cumulative installed capacity by 2030.
“It is expected that by 2030, the global offshore wind capacity is set to surpass 203GW, led by major contributions from China (41.6GW), the UK (27.5GW) and the US (18.9GW).”