Over the past two years, the cost of offshore wind in Europe has rapidly declined to the point where projects are now bidding subsidy-free into competitive tenders. Like onshore wind and solar PV before it, it is a matter of when and not if offshore wind will expand to emerging markets.
The wind resource is there, the electricity demand is there and the need for clean, cost-competitive power is there. So, what can be done to assist these countries in “jumping the queue”, allowing them to more rapidly play a role in offshore wind’s bright future?
In tackling this challenge, we must first recognize that offshore wind in emerging markets is not going to look exactly as it does in Europe.