UK to lose lead role in offshore wind energy to China
The UK’s dominant role in offshore wind energy production will be overtaken by China within four years, says a leading international research organisation.
Bloomberg New Energy Finance predicts that by 2022, Beijing will assume the dominant role in the market.
At present China, Britain, the Netherlands and Germany are the core offshore wind markets.
But while the current global industry has a cumulative capacity of nearly 18GW, by 2030 this will be nearly 115GW, thanks to an explosion in installation building.
The 12-year period will also see the emergence of the United States and Taiwan, but also France as major players, says the report.
It concludes that expansion will peak in 2027, but “after 2028, the expiry of offshore wind subsidies and a lack of regulatory transparency will result in a slowdown”.
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