The offtake auction schedule continues to reflect a healthy outlook following heightened activity last year. Notably, the TGS report indicates that 32.9 GW of capacity is set to be included in offtake auctions globally in 2024, with
In 2023 the global offshore wind sector fully commissioned 7 GW, and this has been followed by 592 MW in Q1 2024. This includes Vattenfall’s 344 MW Vesterhav Nord/Syd, the first commercial-scale project in the
Additionally, the report noted that 2024 is poised to witness a surge in corporate power purchase agreements (PPAs). Nearly 1 GW of offshore wind capacity has already been transacted through long-term contracts, and corporate demand for PPAs is expected to remain robust.
Throughout the first quarter, the global industry has been marked by several significant developments.
Meanwhile,
However, the report also notes that this is the first Q1 since 2017 that no investment decisions have been made, although imminent announcements are expected.
Despite a slight downward adjustment in TGS's 2030 forecast, which now stands at 261 GW under construction or operational, there is a notable increase in the longer-term prediction to 2040, reaching 563 GW (both figures are compared to Q4 2023 forecasts). While this adjustment reflects some delays and shifts in project timelines, it underscores the industry's strong ambition and commitment to growth.
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Source:
2024 GlobeNewswire, Inc., source