European Offshore Wind Sector Poised for Exponential Growth: Capacity to Surge to 320 GW by 2050, Driven by Corporate PPAs

The European offshore wind sector is experiencing significant growth, with current capacity at 35 GW.

Projections indicate an increase to 110 GW by 2030 and 320 GW by 2050.

Market research estimates the sector's value will rise from approximately €8.2 billion in 2023 to €54 billion in 2034.

In 2024, 26% of European Power Purchase Agreements (PPAs) were for offshore wind energy.

The Netherlands saw offshore wind accounting for 91% of total PPA volume in 2024.

Data centers represent 35% of the European offshore wind PPA market, with major tech companies like Amazon and Google as key buyers.

Engie, Shell, RWE, and Iberdrola lead the market with 1,510 MW, 1,327 MW, 1,000 MW, and 700 MW respectively.

Google will purchase 250 MW of offshore wind power from Copenhagen Infrastructure Partners (CIP) for its data centers in the Netherlands under a 15-year PPA.