Future prospects and investments in offshore wind – Offshore wind energy is set to play an increasingly central role in the global energy transition. Thanks to its ability to produce clean, renewable and constant energy, this technology is attracting growing interest from governments, investors and companies around the world. In Sicily, the combination of favorable natural resources and a favorable geopolitical and economic context could transform the island into a strategic hub for the development of offshore wind in the Mediterranean. With significant investments and adequate public policies, the future of offshore wind in Sicily appears particularly promising.
Global trends and industry growth
Globally, offshore wind is experiencing exponential growth. According to the International Energy Agency (IEA), global offshore wind capacity has grown from 17 GW in 2015 to over 35 GW in 2020, with forecasts to exceed 200 GW by 2030. This growth is being driven by a number of factors, including rising demand for clean energy, falling turbine installation costs, and growing government commitments to carbon reduction targets.
In Europe, the UK and Germany are the world leaders in offshore wind, with large-scale projects helping to reduce dependence on fossil fuels. However, other countries are also accelerating the development of offshore wind farms, including France, the Netherlands, Denmark, and Italy. This positive trend is supported by the European Green Deal, which includes massive investments in renewable energy, with the aim of achieving climate neutrality by 2050.
The role of Sicily in the Mediterranean
Sicily, with its strategic position in the Mediterranean and its abundant marine wind resources, is well positioned to become a reference point in the offshore wind sector. The combination of constant and strong winds, relatively shallow waters and growing interest from national and international investors makes the island one of the most promising areas for the development of offshore wind farms in the Mediterranean.
Pilot projects that have already been launched, such as the offshore wind farm off the coast of Sicily proposed by Renexia, demonstrate the growing interest in offshore wind in the region. These projects will not only help meet local energy needs, but could also transform Sicily into an exporter of renewable energy to other Italian regions or neighboring countries.
The long-term goal is to create a network of offshore wind farms in the Mediterranean, which can be integrated with other renewable energy sources, such as solar PV, to ensure a stable and sustainable energy supply. This network could help strengthen the energy security of Italy and the whole of Southern Europe, reducing dependence on fossil fuel imports and improving the resilience of the energy system.
European policies to support offshore wind
One of the main factors that will drive the development of offshore wind in Sicily in the coming years is the support of European policies. The European Union has adopted a series of ambitious measures to promote the transition to a low-carbon economy. The European Green Deal, presented in 2019, set the goal of reducing greenhouse gas emissions by 55% by 2030 and achieving climate neutrality by 2050. Offshore wind is considered one of the key technologies to achieve these goals.
In this context, the EU is allocating significant funds to support the development of offshore wind, through programmes such as Horizon Europe and the Recovery and Resilience Facility. These funds can be used to finance the construction of new infrastructure, research and development of innovative technologies and training of skilled workers. Sicily, thanks to its strategic position and its wind potential, could benefit significantly from this funding.
In addition, the EU is promoting cross-border cooperation in the renewable energy sector, with the aim of creating an integrated energy network at European level. Sicily could become a central node in this network, exporting renewable energy to other Italian regions and Mediterranean countries, contributing to the construction of a more resilient and sustainable energy market.
Technological innovations and cost reduction
Technological innovations are playing a crucial role in making offshore wind increasingly competitive from an economic point of view. In recent years, the installation costs of offshore wind turbines have decreased dramatically, thanks to the increase in the size of turbines and the adoption of advanced technologies, such as floating foundations and digital monitoring systems.
According to data from the International Energy Agency (IEA), the cost of offshore wind has fallen by more than 50% in the last decade, and is expected to continue to decrease in the coming years. This makes offshore wind one of the most competitive renewable energy sources, able to compete not only with fossil fuels, but also with other renewable technologies, such as solar PV and hydroelectricity.
In addition, innovations in energy storage are opening up new possibilities for offshore wind. Battery storage systems and hydropower storage technologies can store energy from wind turbines during low demand, and release it when energy needs are greatest. This improves grid stability and increases the ability of offshore wind to provide energy on demand.
Private Investment and Public-Private Partnerships
The future of offshore wind in Sicily will depend largely on the ability to attract private investment and create effective public-private partnerships. International energy companies are already showing strong interest in developing offshore wind farms in the Mediterranean, and Sicily has an opportunity to capitalize on this interest to attract significant investment.
Public-private partnerships are essential to ensure the long-term success of offshore wind. Public institutions can provide the regulatory and financial support needed to facilitate project development, while the private sector can provide the technical expertise and capital to build the facilities. These collaborations can accelerate the energy transition process, while ensuring that economic benefits are fairly distributed among local communities.
Export prospects and integration with other renewable sources
One of the strategic objectives for the future of offshore wind in Sicily is the creation of a renewable energy export network to other Italian regions and European countries. Thanks to its geographical location in the heart of the Mediterranean, Sicily has the potential to become an energy hub connecting North Africa, Southern Europe and continental Italy.
The integration of offshore wind with other renewable energy sources, such as solar PV and hydropower, could help create a hybrid energy system, capable of ensuring a stable and reliable supply of energy. This hybrid system could also be supported by energy storage infrastructure, which allows energy produced to be stored during periods of low demand and released during peak consumption.
Furthermore, offshore wind offers the possibility of developing green hydrogen projects. Hydrogen, produced by the electrolysis of water using renewable energy, could become a major energy source of the future, and Sicily, with its abundant offshore wind energy, is ideally placed to develop this emerging sector.
The future of offshore wind in Sicily looks extremely promising. Thanks to its natural resources, strategic position in the Mediterranean and growing support from European public policies, the island has the opportunity to become a leader in the renewable energy sector. With significant investments, technological innovations and strong cooperation between the public and private sectors, offshore wind can transform Sicily into an energy hub of international importance, helping to build a more sustainable, secure and resilient energy future for the entire Mediterranean.
Source: IEA – Offshore Wind Future Outlook(IEA)
Global Wind Energy Council
Future prospects and investments in offshore wind
Through the regional call “Sicilia che Piace”, promoted by the Department of Productive Activities of the Sicilian Region, In Rete SRL has developed the project “Eolico Offshore Sicilia: energia e sviluppo”, a complex and innovative initiative that explores renewable energy, with a focus on offshore wind in Sicily. This multidimensional project is structured to inform and raise awareness among the public on the advantages of sustainable energy, through a multimedia approach that integrates articles, documentaries, and online platforms.
