The Global Wind Energy Council and the World Bank are working with the World Bank to develop a new offshore wind market

The Global Wind Energy Council and the World Bank Group have announced plans to work together to develop new offshore wind in
emerging markets.

Specifically, the Global Wind Energy Council (GWEC), in coordination with the World Bank Group's Energy Sector Management Assistance Program (ESMAP) and the International Finance Corporation (IFC), will accelerate the adoption of offshore wind in emerging markets by helping countries assess their risks, and provide technical assistance to help develop a growing number of renewable energy investment projects
.

The Board of Governors and the World Bank agreed that offshore wind has grown rapidly over the past decade, increasing nearly fivefold
between 2011 and the end of 2018.
For countries with strong offshore wind resources, such as Brazil, Indonesia, India, the Philippines, South Africa, Sri Lanka and Vietnam, offshore wind can provide additional clean power generation capacity to developing countries whose populations do not have access to reliable electricity
.

Preliminary studies have shown that the technological potential of fixed and floating offshore wind in Vietnam reaches an impressive 309 gigawatts (GW), while South Africa reaches 356 GW and Brazil reaches 526 GW
.

"Offshore wind is a clean, reliable and safe energy source with great potential to transform the energy mix
of wind-rich countries.
We've seen it work
in Europe.
We can now use our global experience to scale up offshore wind projects in emerging markets," said
Riccardo Puliti, Senior Director and Head of Energy and Extractive Industries at the World Bank.

"We see great opportunities for large-scale offshore wind development and look forward to working with private sector developers to open up new investment opportunities in countries that can benefit from this increasingly competitive renewable energy source," said
Bertrand de la Borde, director of the International Finance Corporation.

"Offshore wind has huge potential in many regions as the world looks for competitive, zero-carbon energy sources that can be deployed at scale and in a relatively fast time frame," said
Henrik Stiesdal, the father of modern wind energy.

Henrik Stiesdal, creator of the first large-scale offshore wind project as GWEC's Global Offshore Wind Ambassador, explains, "However, the industry needs to find the technology that is best suited to deploy offshore wind in different conditions, such as floating offshore wind in deep water areas, and establishing an efficient supply chain on a global scale
.
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