- Australia leads with 100GW pipeline, but no offshore wind farms under construction
- Taiwan to miss 2025 target, while Vietnam loses major developers amid regulatory delays
Kuala Lumpur, 29 May 2025 – Asia-Pacific’s offshore wind sector has plenty of plans but few turbines have actually been installed, according to a new report from the Energy Industries Council (EIC), the world leading energy trade association and provider of data, events and market insights.
The APAC Offshore Wind Insight Report draws a picture of a region aiming to install more than 270 gigawatts of offshore wind capacity. Yet across most key markets, turbines are not in the water.
The report was produced by EIC analysts Hazwani Izzati Abd Karim (CAPEX), Lim Xiao Shuen (OPEX & Decommissioning), and Mohamed Azman (Supply Chain). It covers Australia, South Korea, Taiwan, Japan, Vietnam, India and the Philippines. China is excluded due to data access limitations.
Australia leads the region in pipeline size, with an estimated 100 gigawatts across 45 projects. None have reached construction.
“Despite having one of the largest offshore wind pipelines in APAC, 97.83% of projects remain in the feasibility/planning stages,” the report said. It also stated, “No offshore wind farms are expected to come online before 2030.”
Australia has granted feasibility licences in three out of the six offshore zones, with Gippsland in Victoria the most advanced. Twelve projects in that area alone have received approval to evaluate site viability and prepare for potential development. But no commercial licence has yet been issued.
South Korea, with a 53.16-gigawatt pipeline, has completed its first competitive auction. Five projects were awarded, including a 750-megawatt floating wind farm by Equinor.
“The country only has two operational wind farms,” the report said. It pointed to bottlenecks in permitting, grid access, and supply chain capacity. “Developers must fund and construct their own offshore substations and connections. Grid congestion risks remain high.”
In Taiwan, the most advanced APAC market, 2.7 gigawatts are operational, but the government’s 2025 target of 5.7 gigawatts will not be met.
“Taiwan will install 4.6 GW by 2025, missing its 5.7 GW target,” the authors wrote. Recent auctions fell short of planned capacity due to inflation and financing pressures. “The auction process does not guarantee certainty with awarded contracts,” the report said.
In Vietnam, the outlook is even more fragile. The country has over 1.4 gigawatts of nearshore wind capacity, but no offshore projects have been approved. “Nearly all projects are in the feasibility stages and no projects have moved into the consenting phase,” the report said. Ørsted, Equinor, and others have exited the market.
Regulatory clarity remains a key issue in the Southeast Asian nation. “Vietnam has not yet implemented formal offshore wind auctions, relying on direct project approvals,” the authors noted.
Japan has eight operational offshore wind farms, totalling around 300 megawatts. Its pipeline stands at 10.94 gigawatts, though floating wind – expected to be a major contributor – is still in early stages. “Only 26% of the country’s pipeline is based on this technology,” the report stated.
The report assessed both established and emerging capabilities to map key equipment and services in the local offshore wind supply chain.
Findings show that the most commonly available services today are operations and maintenance (O&M), installation, and electrical cable supply. Over 65% of the companies providing these services are currently active in the oil and gas sector.
In contrast, essential turbine components -- such as nacelles, towers, and substations -- are largely unavailable within domestic markets. These are predominantly imported. Some companies across the region are involved in these areas, but many operate only through representative offices, not manufacturing facilities.
This absence of local manufacturing capacity is well recognised. Governments have introduced local content regulations to address the gap. Japan aims to achieve 70% local content in offshore wind projects by 2040. South Korea has targeted 50% of turbine costs to be sourced domestically. Taiwan enforces one of the region’s strictest requirements, mandating 60% local content for offshore wind developments.
Rebecca Groundwater, EIC's Head of External Affairs, said, commenting on the report, that governments need to match ambition with execution.
“Many of the markets we looked at have bold targets and declared zones, but the actual mechanisms, be they auctions, grid access or permitting, are still catching up," she said. "Until those are solved, most of the activity is unlikely to go far beyond paperwork."
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