Global Offshore Wind Capacity Hits 83.2GW In 2024: GWEC

Global offshore wind capacity reached 83.2 GW, with 8 GW of additions at the end of 2024, into the grid last year, finds the Global Wind Energy Council (GWEC) report. The study indicated that the latest capacity addition is 26% lower than additions in 2023, making 2024 the fourth-highest year for new installations in offshore wind history. 

The report also showed that China, for the seventh consecutive year, added the most offshore wind capacity of any country. With 4 GW added to the grid in 2024, the country reached 41.8 GW by the end of 2024. GWEC report explained, “The era of ‘grid parity’ for offshore wind – whereby the electricity it generates receives the same remuneration as that from coal-fired power plants – has now entered its fourth year.” Furthermore, the report shared, “Connecting new offshore wind capacity of 5 GW in 2022 and 6.3 GW in 2023 without the government’s financial support has demonstrated the industry’s resilience, although new additions fell 36% in 2024 compared to 2023. Insufficient grid connections and complex maritime approvals and coordination are the main reasons for the drop, alongside a slower-than-expected transition from nearshore to deep-water offshore wind development.” 

Global Offshore Wind Energy