Brazil and Colombia are spearheading the development of offshore wind projects in Latin America and the Caribbean, as highlighted in the Global Wind Energy Council's 2024 Global Offshore Wind Report. The report indicates that the first utility-scale offshore wind project in the region is expected to come online in the early 2030s, with Brazil identified as a potential offshore wind heavyweight boasting a project pipeline of over 180GW. The report also emphasizes the need for reinforcing transmission lines and increasing financing options to facilitate energy flow and connectivity to the grid. Colombia, on the other hand, is exploring offshore wind as a means to enhance resilience and reduce reliance on hydropower, with the potential to deploy up to 50GW of offshore wind capacity. However, the country is advised to invest in specialized port infrastructure and ensure access to the electricity grid for new projects. Furthermore, the report addresses the importance of offshore wind in global green hydrogen production. It identifies Brazil, Uruguay, and Paraguay as potential leaders in the sector, while also recognizing progress in other countries like Colombia, Ecuador, Costa Rica, and El Salvador. The report emphasizes the urgency for faster action to scale up green hydrogen technologies, reduce costs, and make projects more commercially viable through financing and regulatory support. Overall, the report underscores the significant opportunities for offshore wind development in Latin America and the Caribbean, as well as the region's potential to lead in green hydrogen production, urging swift action to capitalize on these advantages and drive sustainable energy transitions.