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Key factors for successful development of offshore wind in emerging markets
- Sep 30, 2021 8:51 am GMT
Offshore wind holds tremendous promise for many emerging markets as a large-scale, clean, reliable form of new electricity generation with the potential to stimulate valuable economic benefits.
However, developing a new offshore wind sector in an emerging market is no easy task. Decision makers must strike a careful balance as they consider a range of technical, political, environmental and social challenges. Offshore wind projects combine the scale of large hydro and the complexity of offshore hydrocarbon extraction, making them entirely different from onshore wind or solar. Government support and proactivity is, therefore, essential to develop a successful new sector and deliver the high rewards that offshore wind can bring.
Fortunately, there is a great deal of knowledge and experience to be gained from countries that have successfully established their offshore wind sectors. Each has had their successes and failures and offer important lessons to aid policymakers in emerging markets, make informed decisions. These decisions also need to suit the particular characteristics and needs of that country so applying lessons learned is not simply a cut-andpaste exercise.
This report distils experiences from established offshore wind markets into key success factors to help emerging markets build successful offshore wind sectors that follow international good practices while reflecting the unique contexts of each country. The key factors described here are, therefore, directional rather than prescriptive. Although this report’s primary audience is the government officials and stakeholders in low- and middle-income countries, many of the issues and key factors are equally applicable to other countries.
The report also recognizes that different stakeholders have different roles to play in a sector’s development; from politicians setting out strategies to port owners planning new facilities. As such, the report intends to support each audience and their particular concerns while also providing an understanding of how their parts are woven into the big-picture. An offshore wind market can be characterized as four interdependent pillars, namely: Strategy, Policy, Frameworks and Delivery
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