Offshore Wind Needs More Government Support to Unleash Its Potential, Report Says
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Offshore wind power isn’t living up to its potential to decarbonize China’s coastal manufacturing heartland, a new report argues.
In 2024, China added 4.4 gigawatts (GW) of offshore wind capacity, accounting for nearly 55% of all global additions that year, the Global Energy Monitor (GEM) said in a report published Wednesday. Over the past five years, China’s offshore wind capacity has grown at a compound annual rate of 41% — double the global average.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
Explore the story in 30 seconds
- China added 4.4 GW of offshore wind capacity in 2024, comprising 55% of global additions, but growth slowed to 12% year-on-year after national subsidies ended.
- Offshore wind accounts for only 9% of China’s wind power capacity, with high costs and continued expansion of coal and gas hindering its impact.
- The report urges a national strategy and consortium to cut costs and accelerate offshore wind deployment through shared investments and coordinated planning.
AI generated, for reference only
Who’s Who
- China Southern Power Grid Co. Ltd
- China Southern Power Grid Co. Ltd. is mentioned as having reported that Guangdong province's electricity consumption reached 912.1 billion kilowatt-hours (kWh) last year, marking a 7.3% year-on-year increase. This information is provided within the context of China's rising energy consumption and the parallel construction of renewable and fossil-fuel capacity.
- State Grid Corp. of China
- State Grid Corp. of China is mentioned in the article as reporting that Jiangsu province's energy consumption increased by 8.4% in 2024. Jiangsu is a major manufacturing hub and significant builder of offshore wind capacity in China.
AI generated, for reference only
What Happened When
- 2019 to 2024：
- China’s offshore wind capacity grew at a compound annual rate of 41%.
- 2021：
- The central government phased out national subsidies for offshore wind projects.
- 2021：
- There was a surge in offshore wind installations in China to meet the subsidy deadline.
- 2021 to 2025：
- Coastal provinces set a combined offshore wind target of 52 GW.
- 2022 to 2024：
- Growth rate of new offshore wind projects in China showed a noticeable decline.
- 2024：
- China added 4.4 gigawatts (GW) of offshore wind capacity, accounting for nearly 55% of all global additions that year.
- 2024：
- China's year-on-year growth rate of cumulative offshore wind installed capacity dropped to 12%, down from 206% in 2021.
- 2024：
- Electricity consumption in Guangdong province reached 912.1 billion kilowatt-hours (kWh), up 7.3% year-on-year.
- 2024：
- Jiangsu province's energy consumption increased by 8.4%.
- By February 2025：
- China's coastal provinces reached 41 GW out of their 52 GW offshore wind target.
- As of February 2025：
- China had 67 GW of offshore wind projects in the pipeline, with 41% under construction.
- July 10, 2025：
- Global Energy Monitor (GEM) published its report on China's offshore wind power.
AI generated, for reference only
- CX Weekly Magazine
Jul. 11, 2025, Issue 26
- Discover more stories from Caixin Weely Magazine.
- Read More>>
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新