Offshore Wind is a decade old industry rapidly maturing in Europe and underway in China, Japan and South Korea.
- In Europe, eleven offshore wind farms worth some 8.5 billion Euros and with a total capacity of 2,844 MW are currently under construction in European waters.
- As of January 2010, the UK government has set the stage for large- scale deployment. In total licenses totaling 49 GW have been awarded
- The German government plan provides for 10 GW of installed offshore wind capacity in the German North and Baltic Seas as early as 2020. This corresponds to an investment volume of more than EUR 30 billion over the next ten years
- China plans to increase the combined installed capacity of its offshore wind power sector to 5 gigawatts by 2015 and 30 gigawatts by 2020, with investments totaling 100 billion yuan
- In parallel, China’s State Grid Corporation announced plans to invest $250 billion in electric power infrastructure upgrades over the next five years, of which $45 billion is earmarked for smart grid technologies. According to its three-stage plan, China will invest another $240 billion between 2016 and 2020 (including another $45 billion toward smart grid technologies) to complete the build-out of a “stronger, smarter” Chinese power grid
- The Japanese Ministry of Economy, Trade and Industry will spend as much as 20 billion yen ($260 million) on a pilot project of six 2-megawatt wind turbines. Japan plans to build as many as 80 floating wind turbines off Fukushima by 2020.
- South Korea plans a 10.2 trillion won ($9bn) offshore wind farm off the southwest coast of the Korea peninsula by 2019, as the country bids to become a major player in the global wind sector.