The UK’s offshore wind pipeline is inching closer to the 100GW mark, while the global pipeline has surpassed an estimated 1.23TW.
RenewableUK’s latest EnergyPulse market intelligence data report reveals significant growth in the UK’s offshore wind project pipeline and a surge in the global pipeline, highlighting the accelerating momentum of the renewable energy sector.
The report, released during RenewableUK’s Global Offshore Wind conference and exhibition in London, shows that the UK’s offshore wind pipeline has reached an impressive 97,944MW, marking a substantial increase from 91,287MW just a year ago.
Furthermore, the global pipeline has surpassed 1.23TW, with a growth of nearly 400GW over the past year alone.
In terms of the country-by-country breakdown, China leads the global offshore wind market with a pipeline of 157GW, followed by the US with 82GW.
Sweden holds the fourth position with 75MW, while Brazil secures the fifth spot with 63GW.
Although the UK is second on the list with a pipeline of 98GW, it is crucial to acknowledge China’s remarkable progress in offshore wind capacity.
In 2021, China not only surpassed the UK but also doubled its operational capacity, reaching 16.9GW.
The country currently accounts for 48% of the global operational capacity, solidifying its dominance in this sector.
RenewableUK’s Chief Executive Officer, Dan McGrail, commented on the findings, stating, “These latest Energy Pulse figures show that both the UK and global offshore wind pipeline is continuing to grow at pace, with new projects coming forward on a massive scale.
“While the UK has established itself as a global leader in both fixed-bottom and floating wind, we cannot afford to be complacent.
“More and more countries are fleshing out their offshore ambitions, with clear plans for future developments and industrial strategies to accompany them.
“Recent developments such as the Inflation Reduction Act in the US and EU’s Green Industrial Deal have increased competition for investment.
“We must double down on our efforts to support and accelerate offshore wind development and I would encourage the Chancellor to bring forward new measures in the Autumn Budget to incentivise manufacturing investment into the UK that might otherwise go overseas.”