- Total global installed offshore wind capacity stands at 77.0GW and is forecast to reach 296.4GW by 2030.
- 2.36GW of capacity was brought online, with almost all coming from Mainland China.
- 2.2GW of capacity was sanctioned and attributed to six wind farms. This is a 60% drop compared to 2Q’s 5.5GW, which attributed to 11 projects.
- 18.4GW of lease capacity was awarded, 46% less than the amount awarded in 2Q24.
- Commercial activity in 3Q24 was higher than the previous quarter, both in terms of PPAs and project capacity transaction announcements. Five PPAs were signed and account for 653.7MW of capacity, while 5.36GW of offshore wind project transactions were announced.
Bahzad Ayoub, Senior Analyst – Offshore Wind
[email protected]
Peter Lloyd-Williams, Senior Analyst – Offshore Wind
[email protected]
This is excerpted from Westwood’s Global Offshore Wind Quarterly Report, which is available to subscribers of WindLogix. For more information and purchase options, please contact [email protected].
