Global Wind Energy Sector Sees Record Growth, GWEC Revises Target

By Editor


The global wind industry witnessed unprecedented growth in 2023, setting a new record by installing 117 gigawatts (GW) of new capacity.

This milestone, detailed in the latest Global Wind Report, marks a significant step forward for the industry, propelled by heightened political ambition and a commitment to combat climate change.

Key highlights from the report underscore the remarkable progress in wind energy deployment:

Record Installations: The year 2023 witnessed a 50 percent increase in new wind capacity installations compared to the previous year, with a total of 117GW added globally.

Global Expansion: Wind power projects were implemented across 54 countries spanning all continents, indicating a widespread adoption of this clean energy source.

Revised Growth Forecast: The Global Wind Energy Council (GWEC) has revised its growth forecast for the period of 2024-2030, projecting an increase to 1210GW, driven by national industrial policies, advancements in offshore wind technology, and promising growth in emerging markets.

However, despite this significant progress, the wind industry faces the challenge of accelerating its growth to meet ambitious climate targets. To achieve the goals set forth in the historic COP28 agreement, which aims to triple renewable energy capacity by 2030 and limit global warming to 1.5 degrees Celsius, the industry must triple its annual growth rate from 117GW in 2023 to at least 320GW by 2030.

Ben Backwell, CEO of GWEC, emphasized the need for concerted efforts from policymakers, investors, and communities to create favorable conditions for sustained wind energy growth. He highlighted the necessity of addressing barriers such as planning constraints, grid infrastructure limitations, and inadequate auction designs to facilitate the scaling up of wind installations globally.

The report provides a roadmap for achieving this ambitious growth target, emphasizing the importance of collaboration and investment in key areas such as supply chains, infrastructure, and public consensus.

Reflecting on the global trends, Mohamed Jameel Al Ramahi, CEO of Masdar, stressed the critical role of wind energy in meeting climate objectives, especially following the historic commitments made at COP28.

Girish Tanti, Vice-President of Suzlon, echoed the call for policy support and collaboration to accelerate the transition to renewable energy. He emphasized the need for inclusive approaches that leverage the potential of both developed and developing economies to drive the green energy revolution forward.

Baburajan Kizhakedath

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