Financing Offshore Wind in APAC: Assessing the Cost Competitiveness of Offshore Wind

This finance-focused paper by Global Wind Energy Council explores the key factors influencing the levelised cost of electricity (LCOE) for offshore wind projects across the Asia-Pacific (APAC) region, drawing comparisons with mature markets like the UK, Germany and China. It assesses how macroeconomic conditions, regulatory frameworks, market maturity and technological innovation shape the economics of offshore wind. It also outlines what governments and investors can do to unlock cost reductions. Key findings reveal that LCOE tends to decline sharply after the first 2 to 3 GW of installed capacity, as supply chains develop, policy clarity improves and project financing becomes more affordable.