Offshore Wind: Global Snapshot

Offshore Wind is a decade old industry rapidly maturing in Europe and underway in China, Japan and South Korea.

  • 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.

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