Offshore Wind

The offshore wind industry has grown nearly five-fold since 2011, from 4 gigawatts to 23 gigawatts installed at the end of 2018, and with a large volume of planned projects in Europe, China and the United States. Considering the recent and projected cost reductions, the unique benefits of offshore wind, and the urgent need to decarbonize electricity systems, the World Bank Group launched a new offshore wind program in March 2019. Led by ESMAP, in partnership with the International Finance Corporation (IFC), the objective is to fast-track the adoption of offshore wind in developing countries by helping them to tackle the challenges that often arise with the introduction of a new technology and creation of new markets.

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