Offshore staff
OSLO, Norway — Global offshore wind capex investments could more than double from $46 billion in 2021 to $102 billion in 2030, according to Rystad Energy.
Europe remains the standard bearer, with capex in offshore wind approaching $53 billion in 2030, up from $15 billion last year. The Americas should pick up pace, with the region set to invest $3.3 billion this year, up from $700 million in 2021, rising to almost $15 billion by 2030.
China, which has been a major player, could slow spending as the next decade draws near.
In 2020 Rystad said China invested almost $25 billion in 2020, but its total expenditure should come down gradually, totaling $7.7 billion in 2030. This is due to the phasing out of feed-in tariffs, which encouraged infrastructure investments, and market dynamics that suggest lower costs for any new capacity additions in the region.
Globally, more than 50% of planned spending will go toward manufacturing and installation of wind farm turbines and foundations.
More than 8,500 turbines should be operational in Europe by year-end 2026, of which almost 60% will likely be supplied by Siemens Gamesa. Vestas should be the second most prolific supplier of turbines by year-end 2026, accounting for about 20% of the forecast installed base.
Asia, excluding China, and the U.S., should commission their first large-scale projects in 2022 and 2024, respectively.
The U.S. appears to be heading for a surge of project commissioning toward 2030, as it targets 30 GW of operational offshore wind capacity. Although the more realistic figure could be about 21 GW installed, Rystad said.
