Report

Going Global : Expanding Offshore Wind to Emerging Markets

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collection.link.263
https://openknowledge.worldbank.org/handle/10986/17456
collection.name.263
ESMAP papers
dc.contributor.author
Energy Sector Management Assistance Program
dc.date.accessioned
2019-12-06T16:14:29Z
dc.date.available
2019-12-06T16:14:29Z
dc.date.issued
2019-10-01
dc.date.lastModified
2020-10-28T10:03:50Z
dc.description.abstract
For many years, offshore wind was the expensive cousin of onshore wind with generation costs in the range of $150 to $200 per megawatt hour (MWh). This changed dramatically between 2016 and 2017 when a series of competitive tenders in Europe witnessed strike prices fall below $100/MWh, culminating in projects that bid into merchant markets with no subsidy at all. Prices have continued to drop thanks to technological improvements, economies of scale, maturation of supply chains, better procurement strategies, and the efforts of large and sophisticated project developers, including several from the utility and oil and gas sectors. However, to date the offshore wind industry has remained largely confined to Europe and China. As prices continue to drop, offshore wind is increasingly gaining traction in emerging markets. Projections suggest that offshore wind will add between 7 to 11 gigawatts (GW) per year from 2019 to 2024, reaching between 15 to 21 GW/year from 2025 to 2030. While much of the growth is expected in Europe, China, and new Organization for Economic Co-operation and Development (OECD) markets including Japan, South Korea, and the United States, there is ample potential for developing countries to ride on this momentum and ramp up their local offshore markets. This report presents eight case studies on the technical potential for offshore wind in Brazil, India, Morocco, the Philippines, South Africa, Sri Lanka, Turkey, and Vietnam (here, technical potential is calculated on the basis of wind speed and water depth). Considering offshore areas within 200 kilometers (km) of the coast, 3 these eight countries have a total technical potential of approximately 3.1 terawatts, including 1,016 GW of fixed capacity and 2,066 GW of floating capacity. UPDATE (May 2020): Since publication of this report the World Bank has published 56 country and regional maps, including updated versions of the maps available in this report. The maps can be accessed via the ESMAP website: https://esmap.org/node/197070.
en
dc.identifier
http://documents.worldbank.org/curated/en/716891572457609829/Going-Global-Expanding-Offshore-Wind-To-Emerging-Markets
dc.identifier.uri
http://hdl.handle.net/10986/32801
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
WIND POWER
dc.subject
ENERGY GENERATION
dc.subject
OFFSHORE WIND FARM
dc.subject
EMERGING MARKET ECONOMIES
dc.subject
GEOSPATIAL ANALYSIS
dc.title
Going Global
en
dc.title.subtitle
Expanding Offshore Wind to Emerging Markets
en
dc.type
Report
en
okr.associatedcontent
https://esmap.org/node/197070 Offshore Wind Technical Potential Maps
okr.crossref.title
Going Global
okr.date.disclosure
2019-10-30
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: ESMAP Paper
okr.docurl
http://documents.worldbank.org/curated/en/716891572457609829/Going-Global-Expanding-Offshore-Wind-To-Emerging-Markets
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
090224b087276de1_1_0
okr.identifier.internaldocumentum
31518765
okr.identifier.report
143162
okr.imported
true
en
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/716891572457609829/pdf/Going-Global-Expanding-Offshore-Wind-To-Emerging-Markets.pdf
en
okr.region.country
Brazil
okr.region.country
India
okr.region.country
Morocco
okr.region.country
Philippines
okr.region.country
South Africa
okr.region.country
Sri Lanka
okr.region.country
Turkey
okr.region.country
Vietnam
okr.statistics.combined
6815
okr.statistics.dr
716891572457609829
okr.topic
Energy :: Energy Policies & Economics
okr.topic
Energy :: Energy and Environment
okr.topic
Energy :: Renewable Energy
okr.topic
Energy :: Windpower
okr.unit
Energy Sector Management Assistance Program (ESMAP)

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