Wednesday 5 July 2023

Offshore wind developments are a critical component of Europe’s energy transition plans, but a supply headache could be on the horizon for the industry before the end of the decade. Rystad Energy’s modeling shows that in 2028, demand for offshore turbine towers will outstrip manufacturing capacity, signaling that time is running out for the continent to address the issue and ramp up production capabilities.

Rystad Energy’s offshore wind capacity outlook shows that wind tower manufacturing capacity will keep pace and exceed demand before 2028. However, that year is the turning point, and in 2029, demand will surpass manufacturing capacity by a significant margin. Steel demand for offshore wind towers will total more than 1.7 million tonnes in 2029, but manufacturing capacity will be a maximum of around 1.3 million tonnes, meaning supply can only meet about 70% of demand.

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