Floating wind forecast: China projected to lead floating wind capacity globally in 2030

All dressed up with nowhere to go?

Offshore wind developers are eager for the floating wind ‘party’ to start, but the realities of slow permitting and uncertain support is pushing the European floating wind party beyond 2030.

On the other hand, in the Asia Pacific region China appears to have increasing ambitions in the floating wind segment, following on the fast scale-up of its fixed bottom sector.

Aegir Insights adjusts expectations for floating wind deployment speed

All together, the future for floating wind is looking promising, but the journey may take a little longer and be more dispersed. Aegir’s Q3 forecast estimates a realistic global floating wind capacity of 6.2 GW by 2030 – whilst this is only 0.6 GW downward from Q2, there are important market movements within:

• China: Aegir has significantly boosted its outlook on China, which is now expected to be the global capacity leader to 2030 with a forecasted volume of 2 GW.
• Europe: Northwest Europe has taken a downward revision of 1.8 GW as Aegir estimates that permitting will continue being a key bottleneck despite government claims of fast-tracking. This pushes projects beyond 2030, but major growth is then expected to 2035.

Aegir Insights’ clients can reach out to Maria Bohsen and Scott Urquhart to schedule a bespoke walk through of these floating wind insights.