Investment scale attracts attention, global offshore wind power grows against the trend

Public date:2024-01-08 15:02:00   /   Views:   /   【Print】

Recently, Bloomberg New Energy Finance (BNEF) released a report saying that although the global economy was severely hit by the COVID-19 in the first half of this year, the investment in offshore wind power was unprecedented, with a year-on-year surge of 319%.


Attractive investment scale


According to the report's statistics, from January to June this year, a total of 28 new offshore wind farms were added globally, with a total investment amount of 35 billion US dollars, more than four times the investment amount in the same period last year. At the same time, this number also exceeded the total investment amount for the entire year of last year.


The report points out that in the first half of this year, the investment scale of newly added offshore wind power individual projects was also considerable. The Dutch Hollandese Kust Zuid offshore wind farm, planned and constructed by Swedish energy giant Vattenfall, has a total investment of $3.9 billion. The investment in the Seagreen project located in the Scottish waters also reached 3.8 billion US dollars. In addition, the Chinese offshore wind power market was also very active in the first half of this year, with as many as 17 new offshore wind power projects added during the same period. Among them, the total investment of the Yangjiang Shaba offshore wind power project developed and constructed by Guangdong Yuedian Group reached 1.8 billion US dollars.


The report shows that under the influence of the COVID-19, the investment growth of onshore wind power and photovoltaic projects has slowed down significantly in the first half of this year, and the "counter trend" growth of investment in offshore wind power is quite remarkable.


Albert Cheung, an analyst at BNEF, pointed out: "We had expected that the COVID-19 in the first half of this year would have a negative impact on global renewable energy investment, and the progress of financing, project auction and other aspects might be delayed. In the field of photovoltaic and onshore wind power, we have seen this trend, but the global renewable energy industry as a whole still maintained a resilient growth, mainly due to the rapid growth of investment in offshore wind power."


Supporting the growth of renewable energy


BNEF's analysis shows that the main reasons for the huge growth in the offshore wind power industry this year are still the decrease in electricity costs and the rapid iteration of large MW wind turbines. It is understood that since 2012, the cost of offshore wind power development has decreased by more than two-thirds.


According to BNEF's report, the total global investment in renewable energy (excluding large-scale hydropower) in the first half of this year was $132.4 billion, an increase of about 5% year-on-year. Except for offshore wind power, most industries in the renewable energy sector have experienced varying degrees of investment decline.


During the reporting period, investment in the photovoltaic field decreased by 12% year-on-year to $54.7 billion; The total investment in onshore wind power decreased by 20% year-on-year to $37.5 billion. In addition, in the first half of this year, global investment in areas such as biomass and waste to energy generation also significantly decreased by 34% to 3.7 billion US dollars; The investment in small-scale hydropower decreased by 14% to 576 million US dollars; Investment in the biofuels sector decreased sharply by 82% year-on-year, to only $250 million.


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