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New analysis from Westwood Global Energy Group (Westwood) reveals offshore wind growth with 135 GW of new capacity on offer to developers, equivalent to nearly 2.5 times today’s 55 GW market.
This is bolstered by new market expansion with over 20 GW of leases up for grabs in countries which have not previously held a licensing round, such as Canada, Colombia, and India. This growth will present huge opportunities and challenges to the sector – both for the supply chain delivering existing projects and the developers exploring new opportunities. Responding to these market challenges, Westwood has rolled out upgrades to its WindLogix solution. Enhancements to WindLogix include greater coverage of offshore wind leases (including key financial metrics), an offshore wind farm transaction database, coverage of offshore wind PPAs and tracking government awards of financial support to projects. The tool will offer both data searches and in-depth profiles, as well as a thematic report series, all on a global basis.
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