Page 7 - AfrElec Week 09 2021
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AfrElec                                      COMMENTARY                                              AfrElec














































                         years alone.
                           “The continued growth of the offshore wind  over 71,000 GW of offshore wind potential glob-
                         industry globally throughout the pandemic is  ally with current technology, and tapping into
                         a testament to the resilience of this booming  this resource will be key to keep global warming
                         industry,” said Feng Zhao, head of market intel-  below 1.5°C [above] pre-industrial levels, while
                         ligence and strategy at GWEC.        generating significant economic benefits. To
                           “Although China was hit first by the COVID-  realise this potential, industry and government
                         19 crisis, the impacts on the offshore wind sec-  collaboration will be key, along with stable poli-
                         tor were minimal, resuming ‘busines-as-usual’  cies to provide a long-term horizon for industry
                         as early as March 2020. China’s record-breaking  growth,” said Alastair Dutton, chair of Global
                         growth is expected to continue in 2021, driven  Offshore Wind Task Force at GWEC.
                         by an offshore wind installation rush to meet   “Accelerating the commercialisation of float-
                         China’s feed-in tariff [FiT] deadline by the end  ing offshore wind this decade will also be crucial
                         of this year,” he said.              to open new doors for the sector, and capture
                           Looking ahead, Asia-Pacific is forecast to  more wind resource than ever thought possible”,
                         continue to dominate new additions, with the  he added.
                         US expected to catch up later in the decade.
                           “While Europe remains the largest offshore  Greater growth ahead
                         wind market globally, Asia-Pacific will play an  In its 2019 Global Wind Report, which was
                         increasingly important role driving industry  released in March 2019 and covered pre-
                         growth, as major economies such as Japan and  COVID-19 performance, the GWEC forecast
                         South Korea have recently established ambitious  that by 2024, 50 GW of offshore would be added
                         offshore wind targets. The US will also become  in five years, compared with a combined 355
                         an increasingly important market for offshore  GW for both onshore and offshore wind.
                         wind, as the new administration has made it   Offshore is set to expand its market share to
                         clear they are working to accelerate growth of  20% in 2024 from 10% in 2019.
                         this crucial industry,” he added.      With 2020 additions standing at just over 6
                           Offshore wind is a key technology that can  GW, this suggests that growth must be far greater
                         enable the world to meet its 1.5°C commitment,  in the next four years. The wind sector expects to
                         although stable policies from governments and  benefit from a post-COVID-19 bump as govern-
                         long-term investment are needed, the GWEC  ments commit to investing in green technology
                         argued.                              to drive post-COVID recovery.
                           “We are only seeing the tip of the iceberg   Indeed, offshore wind demonstrated its resil-
                         when it comes to offshore wind’s massive poten-  ience in 2020, and is now well-placed to show
                         tial. The World Bank Group reports that there is  greater growth in the next four years.™



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