China to drive wind energy capacity additions as annual expansion rate to treble globally

The global wind sector will be propelled by factors like acceleration in energy transition and the urgency to boost energy security, leading to a tripling in the rate of annual additions of offshore wind installations by 2028, with China accounting for over half the additions, according to industry body Global Wind Energy Council (GWEC).

“Offshore wind addresses the pressing issues of energy resource diversification and enhanced energy security by offering higher capacity factor and large power output,” GWEC said in a report released on Monday.

The world added 10.8 gigawatts (GW) of new offshore wind capacity last year, bringing the total global offshore wind capacity to 75.2GW, a 24 per cent year-on-year increase marking the second-best year in offshore wind history, according to the report.

Driven by the global goal of tripling renewable energy by 2030 agreed during the United Nations COP28 climate summit in Dubai last year, a favourable political environment and the urgency of ensuring energy security after the Russia-Ukraine conflict, GWEC expects annual offshore wind installations worldwide to triple to 32.8GW by 2028, and reach 66GW by 2033.

China is expected to contribute 52 per cent of the global offshore wind additions in 2024-2028, adding 72GW of new capacity during the period, according to GWEC.

“Considering the strong growth expected in China, as well as burgeoning new Asian markets, Asia’s leading position in offshore wind installations is unlikely to be challenged in the next decade,” said Zhao Feng, chief research officer at GWEC in the report.