(being updated)

From 30 GW to 1,400 GW in 30 years. That's the offshore wind sector's challenge – or at least there's an opportunity to deploy a massive number of gigawatts on the water, according to the coalition Ocean Renewable Energy Action Coalition, OREAC.

The group, consisting of 14 companies and organizations led by Ørsted and Equinor, points out that a massive offshore capacity build-out could play a role in restarting the economy after the Covid-19 pandemic and also ensure needed reductions of CO₂ emissions.

A report suggests that eliminating roughly 10 percent of the world's combined greenhouse gas emissions necessary for living up to commitments made in the Paris Climate Accord can be achieved though maritime energy infrastructure, spanning from offshore wind, floating solar and wave power.

At the same time, an offshore wind expansion totaling 1,400 GW could supply for one tenth of the world's electricity usage and offset more than 3 billion tons of carbon dioxide per year.

"In a short period of time, offshore wind has become an incredibly competitive solution for clean power generation across the world, with impressive cost reduction driving the industry’s growth by over 30 per cent in the past decade and now outcompeting alternative fuels such as coal. Over 30 GW of capacity is already installed, yet this is just the tip of the iceberg for the massive growth potential of offshore wind," writes Benj Sykes, head of Market Development, Consenting and External Affairs at Ørsted in a statement.

In early 2020, Ørsted and Equinor joined forces CWind, Global Marine Group, Jera, MHI Vestas, MingYang Smart Energy, Mainstream Renewable Power, Shell, Siemens Gamesa, TenneT and GE Renewable Energy to established OREAC.

The group's purpose is to represent the offshore wind sector in the global dialog on climate measures as well as working toward a vision for 2050, highlighting action that industry, financial institutions and authorities can implement for a sustainable ramp up of offshore wind production. 

Later this year, OREAC will reveal its roadmap for 2050, providing concrete proposals for how parties can support the sector in achieving its 1,400 GW-by-2050 ambition.

English Edit: Daniel Frank Christensen

Vestas and Siemens Gamesa top consolidated wind market  

Danish heavyweights to build 1.3 GW green hydrogen plant in Copenhagen 

Offshore wind's new bottleneck is vocational training