Capital investment in offshore wind projects around the world is forecast to swell to over $100bn in 2030, more than double the $46bn spent last year, as national energy transition plans increasingly look to sea for baseload clean power production, according to latest calculus from Rystad.

The Norway-headquartered research house expects Europe to witness $53bn spent on the industrial build-out by the end of the decade, up from $15bn in 2021, while the Americas could reach capital expenditure (capex) levels of $15bn by 2030, a massive leap from the $700m invested in the nascent regional sector last year.