Quest Offshore Wind Turbine Index May 2020
Offshore Wind CapEx stands at over $400 billion in May
May’s QOWTI (Quest Offshore Wind Turbine Index), which tracks the Total Addressable Market for offshore wind*, shows 257 Global Projects, representing 14,348 individual turbines valued at $400 billion. At present, over 80% of these projects are distributed more or less equally between Asia Pacific and Europe. However, total CapEx and MW density are much higher in Europe at $184 billion and 59.3 GW, respectively, compared to $135 billion and 41.5 GW in Asia Pacific.
Total projected CapEx for Fixed Wind is $332 billion on 193 projects, containing 12,248 turbines. These projects will add 107,046 MW to future global nameplate capacity. Asia Pacific is presently the most active market for Fixed Wind comprising 88 projects totaling 4,695 turbines led by the Japan, Taiwan, Vietnam and South Korea. Europe ranks second with 75 projects comprising 5,475 Fixed turbines led by the UK, Netherlands, Poland and France.
Meanwhile, Floating Wind total projected CapEx stands at more than $68 billion allocated to 64 projects, containing 2,100 turbines. These projects represent an increase of 19,913 MW in future global nameplate capacity. Europe is presently the most active market for Floating Wind totaling 731 turbines across 31 projects led by the UK, France and Spain. Asia Pacific ranks second with 710 Floating turbines on 20 projects led by Japan, South Korea and Taiwan.
*The Total Addressable Market represent the 257 global projects which are either under development, planned or possible tracked by Q FWE’s proprietary Q Vision database.
For more information on the Offshore Wind market, please contact us at firstname.lastname@example.org or +1 832 862 3390.
QOWTI Annual Subscription $995 – single-user
Gain access to the world’s most definitive reference index for the global offshore wind market. Subscribers will be emailed a monthly Excel file along with 24/7 access via our website. Please call +1 (832) 862-3390 for multi-user or enterprise-wide licensing options. For further detail on our subscription products, please see our Commercial Offering Brochure here.