GWEC, WBG to Collaborate For Developing Global Offshore Wind Markets

Global Wind Energy Council (GWEC) and World Bank Group (WBG) has announced that it is contemplating to work together on efforts to develop offshore wind in developing markets.

The move trails the World Bank Group’s launch of a new program to fast-track the acceptance of offshore wind energy in developing countries, sustained by funding from the government of the United Kingdom.

ESMAP is a conglomerate between the World Bank and 18 partners to help low and middle-income countries reduce poverty and boost growth, through ecologically sustainable energy solutions. The IFC is the world’s largest global development institution focused completely on the private sector in developing countries.

As part of their collaboration, WBG and GWEC will organize a sequence of workshops and other events to discuss the latent of offshore wind in new and developing markets and to enable knowledge sharing and the transmission of best practices.

Remarking on the development, GWEC, CEO, Ben Backwell said, “Offshore wind has already made significant strides in markets such as Europe and China, but its true potential reaches far beyond these established areas.  GWEC’s Offshore Wind Taskforce was established to help an increasing number of countries provide large-scale, competitive clean power from offshore wind that can help them meet their climate commitments and their sustainable development objectives. The cooperation with the World Bank Group is a significant step forward in this journey. Through knowledge-sharing and partnership, we can better achieve our shared vision for development through sustainable energy.

Meanwhile, GWEC estimates that offshore wind will become a progressively global market if governments remain devoted, and projects and investments endure, with yearly installations in Asia possibly reaching 5 GW or more each year.