Wind Energy – Offshore Wind Resources
At least 57 countries are investigating their offshore wind resources which, when combined, represent a technical potential of over 49,000 GW.
This includes the 19 countries that have +64 GW of offshore wind already operating in their waters.
To date, the World Bank Group has supported 23 country governments to investigate their opportunity.
This demonstrates the huge and growing interest in the sector and its global reach. The global ambition will be necessary to deliver the +2,000GW of offshore wind that both International Energy Agency (IEA) and International Renewable Energy Agency (IRENA) estimate will be required by 2050 to achieve global NetZero targets.
While an exciting opportunity, this large ambition will also bring challenges, especially the ability of the supply chain to deliver. As Global Wind Energy Council (GWEC) recently published annual report highlights, there are already bottlenecks in the supply chain and, without sufficient investment, these supply chain limitations will continue to be an issue and restrict progress.
Offshore wind developers are also faced with many different market opportunities and need to be selective according to their bandwidth and priorities. Markets are therefore competing to attract experienced developers who can successfully deliver quality projects and infrastructure. It is important for governments to establish market conditions that attract these investors and reduce risks to improve the affordability of new offshore wind projects.
The map shows the 57 countries/sovereign states that are investigating or using their offshore wind resources.