Vietnam and China blow past the UK in the offshore wind stakes

[Viet]

More than 200 GW of new offshore wind projects have been announced since the beginning of 2020 – accounting for more than 44% of all global capacity at the pre-construction or early development phase, according to the 2020 Global Offshore Wind Annual Market Report issued this week from the Renewables Consulting Group (RCG).

New projects exceeding 500 MW in capacity were announced in Spain, Ireland, Norway, Taiwan, South Korea, Italy, Brazil and Vietnam through to early 2021.

Supply chain constraints across all regions, as well as undefined development frameworks and route to market mechanisms, will limit deployment of capacity across the sector through to 2030, the report cautions.

“The rate of deployment in the near-term should not be underestimated, however the ambition of government authorities and investors may exceed sector capability in some areas,” the study suggests.

“The ongoing maturation of technology and declining costs for offtake have inspired governments and investors to embrace offshore wind, with many authorities touting offshore wind as a cornerstone to a green economic recovery in the wake of a global recession,” commented Lee Clarke, RCG’s chief operating officer.

The report has some interesting data on global shifts in offshore wind – with Asia to the fore.

For the first time, the APAC market portfolio has surpassed the EMEA region in project development capacity. For the first time, the UK – the market leader – will lose its number one global offshore ranking by the end of the year to Vietnam and China, respectively.

Vietnam, with just 99 MW of inter-tidal capacity operational, sports a massive development pipeline of 64.9 GW. Vietnam’s early-stage development capacity is almost entirely comprised of projects proposed under the recent national power development plan.

China, which has 8.5 GW of offshore wind operational and 30.2 GW underdevelopment – is in second place with a total portfolio of 63.6 GW.

Vietnam and China blow past the UK in the offshore wind stakes - Splash247

More than 200 GW of new offshore wind projects have been announced since the beginning of 2020 – accounting for more than 44% of all global capacity at the pre-construction or early development phase, according to the 2020 Global Offshore Wind Annual Market Report issued this week from the...

splash247.com

 

[Kai Liu]

'Vietnam, with just 99 MW of inter-tidal capacity operational, sports a massive development pipeline of 64.9 GW. Vietnam’s early-stage development capacity is almost entirely comprised of projects proposed under the recent national power development plan.

China, which has 8.5 GW of offshore wind operational and 30.2 GW underdevelopment – is in second place with a total portfolio of 63.6 GW.'


You just need ' a massive development pipeline ' to become the 1st place? WTF?
I also have a massive development pipeline of earning 1000 billion $ to beat Bill Gates in wealth... LMAO...
BTW, this is just about offshore wind capacity, in terms of wind power or renewable energy in general, no one can even eat the dust we left...

 

[313ghazi]

The UK is no longer taking green energy seriously, the current government is a sham. There is so much potential for wind, hydro and tidal power in the UK and it is all ignored. It's like nobody in this country thinks big anymore.

 

[ZeEa5KPul]

The UK is no longer taking green energy seriously, the current government is a sham. There is so much potential for wind, hydro and tidal power in the UK and it is all ignored. It's like nobody in this country thinks big anymore.

The West can't develop if it doesn't have anyone to colonize and steal from.

 

[313ghazi]

The West can't develop if it doesn't have anyone to colonize and steal from.

I don't think that's true. There is plenty of talent, plenty of resources, unfortunately capitalism is out of control. It's got to the point where the wealth is in the hands of an elite who live tax free lives, whilst the common people face financial stress. Even the state doesn't have that much to spend without borrowing. Even when they do spend, they are in the pockets of the elite and the money is misspent. This is true of Britain for the last 10-15 years in my opinion.