On July 27, 2026, the Asian offshore wind power industry reached a historic moment. According to the latest "Asia Offshore Wind Power Development Report" released by the International Renewable Energy Agency (IRENA), in the first half of 2026, Asia's new installed capacity of offshore wind power reached 12.3 gigawatts (GW), a year-on-year increase of 45%, setting a new record for the same period. Among them, China contributed 6.8GW of new installations, accounting for 55% of the global increment, continuing to lead the Asian and even global markets. This data marks that Asia's offshore wind power has entered a stage of explosive growth, with the multiple resonances of policy, technology and capital driving the industry into the fast lane.
Intensive Policy Efforts: Countries Race to Raise Targets
Asian countries are prioritizing offshore wind as a strategic focus for energy transition. Since 2026, China, Vietnam, Japan, South Korea and other countries have successively issued or revised offshore wind development plans. China's National Energy Administration proposed in its "Deep-Sea Offshore Wind Development Plan" released in May to achieve a target of 60GW of deep-sea wind power capacity by 2030 and launch the first batch of 20GW demonstration projects. The Vietnamese government approved the "2026-2030 Offshore Wind Action Plan", planning to reach 12GW by 2030, doubling the previous target. Japan's Ministry of Economy, Trade and Industry announced in June to expand the third-round offshore wind tender capacity to 4.5GW and introduce floating wind projects for the first time. South Korea also unveiled its "2030 Offshore Wind Blueprint", raising the target from 12GW to 18GW.
Policy support has significantly strengthened, including streamlining approval processes, providing subsidies and tax incentives, and improving grid connection mechanisms. For example, China implements "zero subsidies" for deep-sea wind power projects but grants priority trading rights for green certificates, while Japan provides up to 50% construction cost subsidies for floating wind demonstration projects. These measures have effectively stimulated investment enthusiasm of development enterprises.
Technological Breakthroughs: Deep-Sea and Floating Wind Become New Growth Points
Technological progress is a key engine driving the offshore wind boom. In 2026, multiple deep-sea and floating wind projects in Asia achieved critical progress. China Three Gorges Corporation commissioned the first 16-megawatt (MW) floating wind turbine in Yangjiang, Guangdong, the world's largest single-unit capacity floating turbine, marking a substantial step for China in deep-sea wind power. Japan launched its first commercial floating wind farm off Nagasaki with a total capacity of 300MW, using semi-submersible foundation technology, expected to be grid-connected in 2027. South Korea's Ulsan offshore wind project also completed installation of an 80MW floating prototype, laying the foundation for subsequent large-scale development.
Meanwhile, wind turbine manufacturers continue to iterate products. China's Goldwind Technology, Mingyang Smart Energy, etc. have successively launched 18MW-class offshore wind turbines with a rotor diameter exceeding 260 meters, capable of adapting to typhoon sea areas. In terms of operation and maintenance, unattended intelligent platforms and remote monitoring systems have been widely applied, reducing O&M costs of deep-sea wind farms by over 30%. The cost reduction effect is significant; according to IRENA estimates, the average levelized cost of electricity for Asia's offshore wind in 2026 has dropped to 0.35 yuan/kWh, close to that of coal power, greatly improving economic viability.
Industry Chain Benefits: Subsea Cables, Foundations, Installation Vessels in Short Supply
The offshore wind boom has driven the prosperity of the entire industry chain. Subsea cable companies have full order books; Orient Cable, Zhongtian Technology and others saw their subsea cable business revenue grow over 60% year-on-year in H1 2026. Wind turbine foundation manufacturers also benefit; with the increase in deep-sea projects, demand for floating foundations has surged, making large jacket structures and semi-submersible foundations hot products. In terms of installation vessels, the world's largest wind turbine installation vessel "Haijian" was delivered in early July in Yantai, China, capable of lifting 20MW turbines at 80-meter water depth, alleviating the shortage of deep-sea construction equipment.
Offshore wind has also driven upgrades in related industries such as ports, vessels, and energy storage. For example, China's Jiangsu, Shandong and other regions have planned multiple offshore wind mother ports for equipment manufacturing and O&M support. Some developers have also built supporting projects such as offshore wind hydrogen production and energy storage stations, exploring new models of multi-energy complementation.
Challenges and Outlook: Grid Integration and Ecological Protection Need Balance
Despite bright prospects, Asia's offshore wind still faces challenges such as grid integration and ecological impact. Large-scale offshore wind power grid connection requires strengthening cross-regional transmission channels and peak-shaving resources. Currently, China, Vietnam and other countries are accelerating the deployment of pumped storage and electrochemical energy storage. Ecologically, some projects have sparked disputes over marine life protection; South Korea and Japan have required developers to conduct stricter environmental impact assessments.
Looking ahead to the second half of the year, offshore wind installations are expected to maintain high growth. The industry estimates that Asia's new installations in 2026 will exceed 25GW, with the global share exceeding 70% for the first time. As Asian countries continue to intensify efforts, offshore wind is transitioning from a "supplementary energy" to a "mainstream energy," injecting strong momentum into global carbon neutrality goals. Yayuanliaohui will continue to monitor energy trends and provide cutting-edge information for investors and practitioners.
