Hogan Lovell OffshoreBook 2023 230809 OnlinePDF - Flipbook - Page 7
Offshore Wind Worldwide 2023
wind resources and existing acreage. Given
the considerable scale of Norway’s offshore wind capacity potential, Nordic and
European countries could expect major grid
synergies in the future with this Scandinavian powerhouse. The Philippine archipelago
likewise has high offshore wind potentials---with wind speeds similar to those in
Vietnam. The Philippine government and
the World Bank Group have identified approximately 178GW of potential generation
capacity from offshore wind alone.
As these three countries are poised to
foray on with offshore wind farm development and coupled with the updates to all
our chapters, investors, stakeholders, and
market players alike might enjoy navigating
through the various stages of the markets
we have featured in this Handbook and the
nuances in the regulatory framework across
these jurisdictions. Jurisdictions such as
Norway are including qualitative criteria,
including in relation to ecology, innovation,
and technology, in their auctions. Germany,
on the other hand, has a new auction concept design thanks to the revised Offshore
Wind Energy Act.
Established offshore wind energy markets
in Europe are continuously sailing through
their installation plans, with the UK closing
on its 100GW pipeline target this year. On
the other side of the Atlantic, market interests have not waned in the United States,
where developments in offshore wind are
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in full sail, markedly reinforced by subsidies
and tax credits for renewable projects.
Given these continued developments, our
outlook on the sector remains exuberantly positive as we observe how offshore
markets, whether established or emerging,
are bending with the wind in order to realise
their renewable energy targets. And to
further support our industry partners and
colleagues as they---you---steer projects
and plans from inception through operation,
we invite you to cruise through our newest
edition of the Offshore Wind Worldwide
Handbook. The respective authors would
be more than happy to answer your questions, take your comments, or assist you in
hoisting your sail when you find the wind is
fair enough.
Yours,
Dr. Christian Knütel
Partner, Hogan Lovells
christian.knuetel@hoganlovells.com
