First offshore wind auctions of 2024 have been launched

After weathering stormy market seas in 2023, the global offshore wind industry is hoping to right the ship with a record 65 GW of auctions planned for 2024.

And the first offshore wind auctions have already been launched in 2024:

• In Germany, 2.5 GW of capacity is now open to developers using a 'dynamic' bidding model, which was introduced last year and spurred the country's high-profile 7 GW award to BP and TotalEnergies. Later this year 5.5 GW of pre-investigated sites will also be auctioned off based on a mix of price and qualitative criteria.
• In Japan, 1.1 GW will come under the gavel in the country's third auction round, in a key step in its broader ambition to have 10 GW online by 2030, 30-45 GW by 2040 and carbon neutrality by 2050.
• In the Baltics, Estonia kicked off pre-qualification for 2.9 GW of capacity, building on the recent award of the 1.5 GW Liivi 1 and 2 sites, and Lithuania unveiled 700 MW of new capacity in an auction of the same size as the country's debut auction, but this time including government support.

Aegir Insights' Offshore Wind Auction Intelligence solutions

To glean a deeper understanding of these and other key international offshore wind auctions coming in what promises to be a transformative year for the sector, reach out to us for information on our new Quarterly Auction Intelligence reports and other market intelligence products