Despite a period of global turmoil since the publication of this report’s first edition, the offshore wind industry has continued to flourish. 2020 was a record-breaking year for new offshore wind installations, resulting in a total of over 35 GW operating across the globe by the end of the year. This accelerating pace will need to continue through this decade as it is widely expected that in 2030, well over 200 GW of offshore wind will be generating worldwide. Looking further to the future, the Ocean Renewable Energy Action Coalition (OREAC) has established a vision of 1,400 GW by 2050, which will require a huge, global roll-out of offshore wind and a much higher pace of deployment.
Read the full report by Hogan Lovells here