Making Offshore Wind Work
MAKINGOFFSHOREWIND WORKPublic Disclosure Authorized Key Factors for SuccessfulDevelopment of Offshore Windin Emerging Markets ABOUT ESMAP The Energy Sector Management Assistance Program (ESMAP) is a partnership between the World Bank andover 20 partners that helps low- and middle-income countries reduce poverty and boost growth throughsustainable energy solutions. ESMAP’s analytical and advisory services are fully integrated within theWorld Bank’s country financing and policy dialogue in the energy sector. Through the World Bank Group(WBG), ESMAP works to accelerate the energy transition required to achieve Sustainable Development Goal7 (SDG7) to ensure access to affordable, reliable, sustainable, and modern energy for all. It helps shapeWBG strategies and programs to achieve the WBG Climate Change Action Plan targets. Learn more at:https://esmap.org. © 2025 April | International Bank for Reconstruction and Development / The World Bank1818 H Street NW, Washington, DC 20433Telephone: +1-202-473-1000;Internet: www.worldbank.org.Some rights reserved. Rights and Permissions The material in this work is subject to copyright. Because the World Bank encourages dissemination of itsknowledge, this work may be reproduced, in whole or in part, for noncommercial purposes if fullattribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should beaddressed to World Bank Publications, World Bank Group, 1818 H Street NW, Washington, DC 20433, USA;fax: +1-202-522-2625; e-mail: pubrights@worldbank.org. Further, the ESMAP Program Manager requeststhat a copy of the publication that uses this publication as its source be sent in care of the address above orto esmap@worldbank.org. This work is available under the Creative Commons Attribution 3.0 IGO license(CC BY 3.0 IGO) http://creativecommons.org/ licenses/by/3.0/igo. Under the Creative Commons Attributionlicense, you are free to copy, distribute, transmit, and adapt this work, including for commercial purposes,under the following conditions: Attribution—World Bank Group. 2025. Key Factors for Successful Development of Offshore Wind inEmerging Markets. ESMAP, World Bank, Washington, DC. Third-Party Content—The World Bank does not necessarily own each component of the content containedwithin the work and does not warrant that the use of any third-party owned individual component or partcontained in the work will not infringe on the rights of those third parties. If you wish to reuse a componentof the work, it is your responsibility to determine whether permission is needed for that reuse and to obtainpermission from the copyright owner. Examples of components can include, but are not limited to, tables,figures, or images. Production Credits The paper was developed as part of the World Bank Group’s Offshore Wind Development Program,jointly led by the Energy Sector Management Assistance Program (ESMAP) and the International FinanceCorporation (IFC), which aims to accelerate offshore wind development in emerging markets. For more,please see: www.esmap.org/ offshore-wind. Designer | Hue Communications Cover Image | Ørsted All images remain the sole property of their source and may not be used for any purpose without writtenpermission from the source. CONTENTS Acknowledgements VIIIForeword — World Bank Group IXForeword — Global Wind Energy Council XIExecutive Summary XIIIIntroduction 1Chapter One: Strategy 6Chapter Two: Policy 18Chapter Three: Frameworks 54Chapter Four: Delivery 133Chapter Five: Next Steps 168Appendices 171Appendix A: Recommended Further Reading���������������������������������172Appendix B: References��������������������������������������������������188Appendix C: Glossary����������������������������������������������������217 FIGURES AND TABLES LIST Figures Figure IN.1.1:Strategy, policy, framework, and delivery: the four key pillars forsuccessful development of offshore wind. . . . . . . . . . . . . . .