Offshore Wind FIDs Hit 2.1 GW in 2026 as Financing Costs Bite
Oslo – October 11, 2026 -- Only 2.1 GW of offshore wind capacity has reached final investment decision (FID) so far in 2026, while more than 12 GW is expected to enter operation this year, according to TGS | 4C's latest quarterly Global Market Overview.
TGS | 4C forecasts 5.6 GW will reach FID by year-end. That would make 2026 the second-lowest year for offshore wind investment decisions since 2020.
Consent awards of 22.2 GW point to the second-highest year on record
Final consents are advancing strongly, with 22.2 GW forecast to be awarded in 2026. Early-phase development assets and projects under construction are both progressing, but developers remain cautious about committing capital to the next generation of projects.
Global offshore wind capacity stands at around 92.7 GW in operation, with a further 41.2 GW under construction and 7.1 GW at FID.