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IRENA, GWEC set 380-GW

target for 2030

GLOBAL THE Global Wind Energy Council and the falling cost of offshore technology. IRENA and
International Renewable Energy Agency GWEC said that new fixed-bottom offshore
(IRENA) have set a target of 380 GW of offshore wind capacity is forecast to become cheaper than
wind installations by 2030, and 2,000 GW by new fossil fuel capacity in next few years, accord-
2050 in a bid to reach international net zero tar- ing to BloombergNEF data.
gets by 2050. Indeed, a 500 MW project can create 2.1 mil-
The two bodies signed an agreement this lion days of work over its 25-year project lifetime,
week to accelerate offshore wind development boosting local economies in a range of countries.
in the 2020s and to increase stakeholder engage- “This compact sets out a clear framework to
ment, capacity-building, technical assistance support world governments as they try to reach
and support. Net Zero targets. The rapid acceleration of off-
The compact aims to increase substantially shore wind development in every region of the
the share of offshore wind energy in the global world is vital if we are to meet our collective
energy mix, by 2030. objectives, and the message from IRENA and
The compact sets out a clear route to help GWEC is clear: World leaders, the industry is
governments make the fundamental changes here to help you make it happen, said Ben Back-
required to reach their UN-required NDC well, CEO, GWEC.
goals. The two wants to ensure that no country “Offshore wind undoubtedly plays a central
or region is ‘left behind’ by offshore sector. role in global decarbonisation plans – offering
As of 2020, the world had 35 GW of off- solutions for everything from reskilling work-
shore capacity, according to GWEC Market ers to providing the technology to bring new
Intelligence. solutions like green hydrogen to scale. However,
In a bid to meet these targets, the two will use these transitions will not happen without gov-
IRENA’s Collaborative Framework on Ocean ernments taking action, and this Compact will
Energy/Offshore Renewables to intensify gov- help world leaders do just that.”
ernments’ understanding of offshore wind, as Francesco La Camera, Director-General of
reflected in country NDCs. They also aim to raise IRENA, said: “Offshore renewables have the
the country membership of the Framework. potential to meet more than twenty times of
The Compact warns that: “Given the project today’s global power demand.
development and construction timelines for “Particularly, offshore renewables constitute
offshore wind, these interventions are urgently a critical pillar for decarbonising energy systems
needed”. and fostering a global blue economy, supporting
The Compact also calls for IRENA and economic growth and climate resilience. IRENA
GWEC assess what institutional and resource and GWEC have been close partners for many
gaps exist that are preventing meeting the 2030 years. Today’s joint Energy Compact is ambi-
and 2050 targets. tious but I believe that by joining forces we can
The two partners will also lobby governments achieve the deployment of an additional 380 GW
and policymakers in countries new to offshore offshore wind worldwide by 2030 and 2,000 GW
wind in a bid to increase the geographical spread by 2050.”
of the offshore sector.
Offshore wind aims to take advantage of the

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