When offshore wind power is on the rise in economic investment
We continue with the trend of breaking statistics in the renewable energy sector. Sometimes, for some forceful technical advance and others, for the money that moves in this area.
Of course, large companies look for trends in order to invest and improve their balance sheets. And offshore wind is still in "its infancy"! With more than promising future prospects.
We were already told by the International Renewable Energy Agency (IRENA) with a graph that cleared up all doubts about the annual increase in offshore wind capacity:
According to the new report issued by Global Renewable Infrastructure Projects (GRIP). The Total capacity financed for offshore wind last year reached 8,370 Megawatts (MW) in the Europe, America and Asia Pacific regions (excluding China).
Global financial investment also set highs with the offshore wind sector reaching 30 billion dollars. Exceeding the previous maximum established in that 2022, with the amount of 22 billion.
Global financial investment in offshore wind set new highs reaching $ 30 billion
Despite the planet being immersed in a pandemic, more offshore wind capacity was financed in 2022 than in any other year.
The record investments in capacity represent not only firm commitments to build new projects in different parts of the world, but also in capacity acquired through mergers and acquisitions.
One of the most representative examples of economic investment made in 2022 is the largest offshore wind project in the world, the Dogger Bank, with a capacity of 3,600 MW.
That also will have the largest offshore wind turbine in the world. As indicated on the official website … «One rotation of the Haliade-X turbine will power a UK household for two days»Each turbine blade will be 107 meters long.
The report highlights that it is necessary to establish structured routes and alliances for adequate commercialization, as we already have in onshore wind energy. In addition to clear legislation and market mechanisms that reduce investment risk.
Worldwide, UK leads financial investment activity in offshore wind. Followed by the Netherlands (We are not counting China), Taiwan, France, Germany, and others, as we can see in the following graph.
If we look at U.S. Directly the trends in installed capacity in recent years no longer appear even in IRENA's graphs (See article Trump's follies against renewables). But… "The United States will also become an increasingly important market for offshore wind, as the new administration has made it clear that it is working to accelerate the growth of this crucial industry" we'll see what happens!
The strong! the China Offshore Wind Market - expected to overtake the UK as the world's No. 1 market in operating capacity by the end of this year - experienced unprecedented growth and project deployment.
According to a recent report by the Global Win Energy Council (GWEC), last year, it installed half of the world's new offshore wind capacity making it the second largest offshore wind market in the world.
China leads the world in new offshore wind installations annually for the third consecutive year, with more than 3 GW of new offshore wind capacity in 2022. If we count, the 5 main offshore wind markets by accumulated capacity:
- UK - 10,206 MW
- China - 9898 MW
- Germany - 7,730 MW
- Holland - 2,611 MW
- Belgium - 2,259 MW
In the case of the wind map of Spain. Interest in onshore wind power has been noted in recent years, but marine, there is still much to do. With a roadmap for the development and energies of the marine field, half paralyzed.
The data clearly demonstrate the importance of markets having a clear marketing mechanism. The offshore wind power is becoming increasingly consolidated as one of the most necessary and crucial technologies to achieve the decarbonization of the energy system.
Socio-economic benefits increase exponentially as countries develop their strategies for a green economic recovery. Estimates are that already provides around 700,000 jobs worldwide during the life of the projects.
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