Global Offshore Wind Capacity Reaches 91.9 GW With 100 GW Milestone Expected This Year
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Global operational offshore wind capacity has grown from 85.4 GW twelve months ago to 91.9 GW today, a 7.6 percent increase that is sufficient to power the equivalent of more than 6.5 million UK homes annually, according to RenewableUK's latest EnergyPulse Insights Offshore Wind report. An additional 7.75 GW is close to final completion, placing the 100 GW global milestone within reach before the end of 2026, while the total global development pipeline stands at 922 GW across 1,461 projects in 49 countries with 38 GW currently under construction.
Investment Outlook and Capital Flows
The report projects £493 billion in global offshore wind investment over the next five years, comprising £378 billion in capital expenditure, £83 billion in development expenditure, and £32 billion in operational expenditure. China is expected to attract the highest level of capital investment at £108 billion, with the United Kingdom second at £81 billion and Germany third at £41 billion. US offshore wind capital investment over the next five years is forecast to rank fifth globally despite the current administration's attempts to restrict development, with the projection driven by payments committed to projects already under construction and expectations among international markets of a ramp-up in activity by shovel-ready projects approximately one year into the next American administration. The resilience of US investment projections despite political headwinds illustrates the degree to which committed capital and contracted projects have insulated near-term activity from policy disruption.
UK Market Position and Construction Pipeline
The United Kingdom currently has its highest ever volume of offshore wind under construction at 11.5 GW, with a total pipeline of 91.4 GW across 137 projects. The offshore wind industry has invested £100 billion in UK projects over the past 25 years and is set to invest another £100 billion over the next five years, with £81 billion in capital expenditure and £18 billion on planning and operations. Projects that won contracts in Allocation Round 7 account for £30.5 billion of expected investment across eight projects representing 8.4 GW of new capacity. Looking ahead, more than double that capacity, comprising 17.1 GW across 20 projects, is eligible to bid in Allocation Round 8 this year, including 232 MW of floating wind across four projects in UK waters. The UK is expected to more than double its operational portfolio within five years, reinforcing its position as one of the world's leading offshore wind markets.
Workforce and Economic Significance
RenewableUK chief executive Tara Singh has highlighted the economic dimensions of the sector alongside the capacity figures, noting that offshore wind currently employs 40,000 people in well-paid jobs across the UK and that this workforce is forecast to grow to 95,000 by 2030. The combination of investment scale, job creation, and energy security contribution positions offshore wind as a central pillar of UK industrial and economic strategy rather than a purely environmental programme. Singh has described the UK market as attracting over a fifth of global offshore wind investment over the next five years, a share that reflects both the maturity of the domestic pipeline and the confidence of international capital in the UK regulatory and commercial framework. The sector's delivery of clean power, economic output, and skilled employment simultaneously strengthens the political and commercial case for continued policy support through upcoming auction rounds.
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This article was contributed by an external writer affiliated with our publication.
