Global offshore wind to rebound in 2025 | Asian Business Review
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Global offshore wind to rebound in 2025

Thanks to a record wave of lease auctions.

The global offshore wind industry is expected to add 19 gigawatts (GW) to its capacity in 2025, recovering from a slowdown the previous year.

According to Rystad Energy, the capacity additions projected this year, with sector-wide expenditure projected to hit $80b, will be a rebound from last year’s 8 GW -- 2 GW lower than the year prior.

The increase is fuelled by a record wave of lease auctions, with the world’s largest offshore wind market, Mainland China, accounting for 65% of new capacity.

“With this increase, total additions will exceed the previous peak in 2021 by about 1 GW, surpassing the 7.7 GW added in 2024, 10.2 GW in 2023 and 9.3 GW in 2022,” Rystad said.

However, Rystad warned that there is still uncertainty in lease agreements — the long-term contracts between landowners and wind-energy companies. Whilst 55 GW of offshore wind capacity was offered in lease auctions globally (excluding Mainland China) in 2024, not all have been awarded.

“Despite 2024's record offerings, lease auction openings are projected to decline in 2025, with an expected 30 GW to 40 GW available. Whilst significantly lower than 2024, this projected offered capacity is still significant, aligned with levels seen in 2021 and 2022,” Rystad said.

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