The UK will lose its global lead in the offshore wind market to China after almost half the world’s investment in seaborne turbines flowed to the Chinese coastline last year. The global offshore wind sector was one of the fastest growing clean energy markets in 2018, attracting around $25bn worth of fresh investment. This was 14pc higher than the year before, according to Bloomberg New Energy Finance, and was largely driven by the $11.4bn spent in Chinese waters constructing 13 new offshore wind farms. “The balance of activity in offshore [wind] is tilting,” said David Hostert, of BNEF. “Countries such as the UK and Germany pioneered this industry and will remain important, but China is taking over as the biggest market and new locations such as Taiwan and the US east coast are seeing strong interest from developers,” he added. The UK’s fleet of offshore wind farms have a combined capacity of almost 8GW, compared to just 1.6GW off the Chinese coast, according to data from RenewableUK. However, the Chinese government has a stated aim to reach 30GW by the end of the decade, while the UK expects to build less than 2GW of new offshore wind capacity in 2019 and 2020.
Telegraph 16th Jan 2019 read more »