Principle Power proudly sponsors GWEC's Global Offshore Wind Report 2021

The Global Wind Energy Council (GWEC) released the third edition of its annual flagship Global Offshore Wind Report, which finds that offshore wind capacity grew steadily in 2020, with 6.1 GW installed globally, but governments will need to act decisively to improve policy in order to scale up installations at the pace required to help the world meet its carbon emissions targets and avoid the worst effects of global heating. 

The report highlights offshore wind’s role in the decades ahead as one of the central planks of the world’s future energy system on the road to net zero, the latest technology innovations to open new opportunities for the sector, and how the offshore wind industry is powering a green recovery and just transition.

Key highlights from the Report:

• The world installed 6.1GW of offshore wind in 2020, led by China.
• Offshore wind has the biggest growth potential of any renewable energy technology, but the policy environment needs to improve rapidly for offshore wind to reach international net zero targets.
• Offshore wind today is only 2% of what the world needs to get to net zero by 2050
• 235 GW of new offshore wind capacity will be installed over the next decade under current policies. That capacity is seven times bigger than the current market size and is a 15 per cent increase from the previous year’s forecasts.
• A growing group of countries have identified offshore wind as a key technology for reaching climate targets, but governments now need to follow up on commitments and work with industry to allow investment to scale up rapidly.

Principle Power is a proud Supporting Sponsor of GWEC's Global Offshore Wind Report 2021 and contributed with a case study on "Industrialising floating offshore wind".

Check the full report at GWEC's website.