Global Offshore Wind Industry Achieves Impressive Growth, Sets Sights on Asia-Pacific Expansion

Global Wind Energy Council’s Report Foresees Massive Offshore Wind Expansion by 2032, Focusing on Asia-Pacific Region

The Global Offshore Wind Report 2023, released by the Global Wind Energy Council (GWEC), reveals that 2022 was the second-best year ever for the global offshore wind industry, adding 8.8 GW of clean energy to the grid. The report anticipates an impressive growth of 380 GW in offshore wind capacity by 2032, with nearly half of it expected from the Asia-Pacific region. This shift highlights the region’s potential and the expansion of offshore wind adoption across new countries. Australia alone is set to contribute over 50 GW of this capacity. The report emphasizes that such growth would lead to reduced CO2 emissions and significant clean energy generation, creating new job opportunities. However, it underscores the challenges governments face in realizing this potential, urging collaboration, investment, and cooperation to overcome industry hurdles. While the report presents optimistic long-term growth prospects, it also highlights the risks posed by inadequate policy frameworks, regulatory issues, and supply chain bottlenecks in certain regions. The call to simplify policy for offshore wind and prioritize its expansion is echoed by industry experts and sponsors.