The Asia-Pacific (APAC) offshore wind market is expected to become more diversified.
Overview
The Asia-Pacific (APAC) offshore wind market is expected to become more diversified as more utility-scale offshore wind projects are expected to come online in Japan, South Korea and elsewhere in Asia from 2027 onwards. The anticipated scale-up of offshore wind development in APAC serves as a window of opportunity for countries to pursue economic and social regeneration along its coasts.
This paper sets out the core economic and wider social and environmental benefits of offshore wind development based on case studies extracted from more mature markets and discusses how these benefits could be leveraged in order to achieve coastal regeneration for various areas in the APAC region.
Key Insights
Seizing the potential economic impacts of offshore wind development in APAC will require planning, stakeholder engagement, well-established policy frameworks and support from local and national governments and also effective cooperation between regional governments.
These best practices include:
- Revitalisation of existing assets such as ports and existing industrial sites in coastal communities to create local jobs from project planning, construction and manufacturing of components.
- Enhance innovation and efficiency through the formation of port and industrial clusters.
- Enable technical upskilling through investing into education and training programmes.
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Key Recommendations
Key recommendations - enabling national industrial policies and regional cooperation:
- Expand the number of Free Economic Zones to enhance offshore wind industry clusters and to provide a competitive playing field for foreign direct investment.
- Develop standardised guidelines for engagement, considering existing practices in community engagement and codifying them into regulation.
- Introduction of a production tax credit system, or other incentives, to catalyse local wind supply chains.
- Pass policies to develop and upgrade key infrastructure including ports.
- Strengthen regional and international supply chain collaboration to drive industrialization.
Rebecca Williams
Deputy CEO
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rebecca.williams@gwec.net
Esther Fang
Senior Offshore Wind Policy Analyst-
esther.fang@gwec.net