This paper presents a tailored financing strategy for gigawatt-scale offshore wind projects in emerging markets and developing economies across the Asia Pacific region, taking into account local risks, institutional constraints, and market conditions.

The report develops and quantifies a model capital stack for a 500 MW offshore wind project, offering a replicable framework for future large-scale investments. It demonstrates that when risks are effectively mitigated and appropriately allocated, both domestic and international capital can be mobilized. Where market or deal-level gaps persist, innovative instruments,  including blended finance, guarantees, and support from DFIs, MDBs, and export credit agencies, can play a critical role in unlocking capital.

Through scenario modelling, the analysis quantifies the impact of blended finance on cost of capital, returns, levelized cost of energy, and risk, providing an actionable roadmap to enhance financial viability and accelerate offshore wind deployment in the region. The report concludes with targeted recommendations for key stakeholders, including development finance institutions, commercial lenders, and policymakers.

New innovations in finance can half the cost of capital for offshore wind

Innovative Finance
Mechanisms for
Southeast Asia’s
Offshore Wind
Take-off

Innovative Finance Mechanisms for Southeast Asia’s Offshore Wind Take-off

Global Wind Energy Council (GWEC)