Quest Offshore Wind Turbine Index December 2019
Offshore Wind CapEx adds $64 billion in January
The new year finds major growth in the Total Addressable Market* (TAM), with huge increases in the number of future projects in Asia/Pacific, Northern Europe, Brazil and the Canadian Atlantic. QOWTI has added 25 projects in Asia, 8 new European projects, as well as the Canadian fixed wind project, St George’s Bay (160MW) and the Ceara project in Brazil, which entails 50 units totaling 600MW.
January 2020 QOWTI, which tracks the total addressable market*, shows a rise in global turbines to 14,635 from 12,424 in December 2019, which corresponds to a rise in projected MW capacity of 18,556MW to 128,941MW. CapEx in December grew by $48.7 Billion for Fixed Wind and $15.4 Billion for Floating Wind.
*The Total Addressable Market represent the 250 global projects which are either under development, planned or possible tracked by the QFWE database
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