Offshore wind in Europe draws €14bn investment in the first half of 2016

The European offshore wind industry attracted a record €14bn in new investments during the first six months of 2016. Seven projects reached final investment decision, financing a total of 3.7 GW of new capacity, doubling the capacity over the same period in 2015 of 1.8 GW. The UK accounted for nearly threequarters of the new investments. The volume of new grid-connected installations in the first half of 2016 was 511 MW, 78% down on the same period in 2015. This is expected to pick up next year and towards 2020. Total installed offshore wind capacity in Europe now stands at 11,538 MW across 82 wind farms in 11 countries. Only Germany (258 MW) and the Netherlands (253 MW) added new capacity in the first 6 months.

In the first six months of 2016, Europe fully gridconnected 114 commercial offshore wind turbines with a combined capacity totalling 511 MW. Overall 13 commercial wind farms were under construction which once completed will have a total capacity of over 4.2 GW. Multiple owner profiles exist at the grid-connected sites. Power producers still account for the majority share, but infrastructure and pension funds represent 25.2% of the installed MW this year.

 

All 114 turbines grid-connected in the first half of 2016 were provided by Siemens. They ranged in size between 3 MW and 6 MW. The average wind turbine installed during that period has a capacity of 4.8 MW, representing a 15% increase over the same period last year. Only three out of the 13 sites under construction in 2016 will use 3 MW class turbines, with two sites using 4 MW turbines, seven sites using 6 MW class turbines, and one site using the first 8 MW turbines. Read more…

Article published in: FuturENERGY September 2016