Offshore wind projects FIDs expected to increase 57% in coming months, Westwood Global says

Offshore wind projects FIDs expected to increase 57% in coming months, Westwood Global says

Offshore wind projects final investment decisions (FIDs), outwith mainland China, are expected to grow by more than half in the next 18 months.

New analysis from Westwood Global Energy shows that, compared to the 2019-20 period, FIDs will grow 57%, representing an additional 20.4 gigawatts of new power capacity.

Just under a third of this activity will be driven by emerging offshore wind markets such as the USA, Vietnam, and South Korea.