FIDs set to soar

New analysis from Westwood Global Energy Group, the specialist energy market research & consultancy firm, reveals that Final Investment Decisions (FIDs) outside mainland China will grow by 57% in the next 18 months, compared to the 2019-20 period. The growth represents an additional 20.4GW of new capacity, with just under a third of this activity being driven by emerging offshore wind markets, such as the US, Vietnam and South Korea. According to International Renewable Energy Agency (IRENA) data, the US currently has 29MW installed offshore capacity from a total of 117,744MW (0.02%), Vietnam has 99.2MW from a total of 600MW (16.5%), and South Korea has 136MW from a total of 1,636MW (8.

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