The UK’s pipeline of offshore wind projects has reached 97,944 MW, up from 91,287 MW a year ago, while the global pipeline topped 1.23 TW, an increase of nearly 400 GW in the last year, according to RenewableUK’s latest EnergyPulse market intelligence data report.
The pipeline includes projects at every stage of development, including operational, under construction, consented, or planned.
The UK total pipeline was at 98 GW, second only to China with 157 GW, followed by the USA in third place with 82 GW, Sweden is fourth with 75 MW, and Brazil fifth with 63 GW.
‘‘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,” said Dan McGrail , RenewableUK’s CEO.
By the end of 2020, the UK was leading the world in operational offshore wind capacity, with 10.4 GW compared to the 7.7 GW of China. 2021 saw China not only surpassing the UK but reaching more than double its capacity, with 16.9 GW going operational in a single year, according to the press release.
After installing 5 GW since the end of 2021, China currently accounts for 48 per cent of global operational capacity, the report outlines.
“Recent developments such as the Inflation Reduction Act in the USA and the 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’d encourage the Chancellor to bring forward new measures in the Autumn Budget to incentivise manufacturing investment into the UK that might otherwise go overseas,” said McGrail.
The UK raised its 2030 offshore wind target to 50 GW last year and the government has also decided to accelerate the permitting processes to achieve the new goal.
At the beginning of this year, Ofgem approved the strategic electricity transmission reinforcements required to deliver the increased target.