World offshore wind is gearing up for a comeback in 2025, with new capability additions anticipated to hit 19 gigawatts (GW) and spending projected to soar to $80 billion, in line with Oslo-based impartial vitality analysis agency Rystad Vitality. That’s an enormous rebound after a sluggish finish to 2024 when new installations dropped to round 8 GW – 2 GW decrease than 2023.
A document variety of lease auctions is fueling the restoration. Mainland China, the world’s largest offshore wind market, is main the cost, accounting for 65% of recent capability. That enhance means 2025’s complete additions will surpass the earlier peak in 2021 by about 1 GW. For context, 2024 noticed 7.7 GW added, 2023 hit 10.2 GW, and 2022 got here in at 9.3 GW.
Floating wind, the place generators are put in on floating platforms as an alternative of mounted foundations, has seen an uptick in venture bulletins. However provide chain points, just like these in bottom-fixed offshore wind farms, are slowing issues down. Proper now, floating wind is predicted to remain beneath 7 GW of complete capability by 2030 except governments step up help to assist the sector scale.
Lease agreements, the long-term contracts between wind vitality firms and landowners, are additionally dealing with some uncertainty. In 2024, a record-breaking 55 GW of offshore wind capability (excluding mainland China) was up for grabs in lease auctions worldwide. However supplied capability doesn’t at all times translate into awarded capability. Working example: the US had zero bids for its 3 GW floating wind public sale in Oregon, whereas the Gulf of Maine public sale awarded about 7 GW of the 13 GW on the desk.
Wanting forward, lease public sale openings are anticipated to dip in 2025, with round 30-40 GW prone to be out there. That’s a drop from 2024’s document ranges however nonetheless in step with what the trade noticed in 2021 and 2022. Whereas the offshore wind trade faces some hurdles, the momentum heading into 2025 suggests a sector gearing up for main development – if it may navigate the challenges forward.
“World offshore wind is ready for a strong yr in 2025; nonetheless, sure indicators may have an effect on its easy upward trajectory,” mentioned Petra Manuel, senior offshore wind analyst at Rystad Vitality.
“US federal coverage is creating vital international ripple results, hindering offshore wind improvement, particularly the place a big portion of auctioned capability lies.
“President Donald Trump’s January memorandum halting new leasing and approvals on the Outer Continental Shelf (OCS), citing environmental and security considerations, may final all through his time period, pausing new developments and creating continued uncertainty for ongoing tasks.”
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