{"id":6748,"date":"2016-08-12T09:05:19","date_gmt":"2016-08-12T09:05:19","guid":{"rendered":"https:\/\/cleanenergyworld.net\/index.php\/2016\/08\/12\/european-offshore-wind-attracts-record-e14bn-new-investment-first-half-2016\/"},"modified":"2016-08-12T09:05:19","modified_gmt":"2016-08-12T09:05:19","slug":"european-offshore-wind-attracts-record-e14bn-new-investment-first-half-2016","status":"publish","type":"post","link":"https:\/\/cleanenergyworld.net\/index.php\/2016\/08\/12\/european-offshore-wind-attracts-record-e14bn-new-investment-first-half-2016\/","title":{"rendered":"European Offshore Wind Attracts Record \u20ac14bn New Investment in First Half 2016"},"content":{"rendered":"

The European offshore wind industry attracted a record \u20ac14 billion in new investments during the first six months of 2016, as the key trends and statistics<\/a>\u00a0from WindEurope <\/a>show. Seven projects reached final investment decision this year, financing a total of 3.7GW of new capacity. The UK accounted for nearly three-quarters of the new investments.\u00a0The 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 toward 2020.<\/p>\n

Giles Dickson, CEO of WindEurope, said: \u201cThe record investment numbers show a clear industry commitment to offshore wind. We expect installations will pick up significantly in 2017 but there are a lot of challenges out there still on offshore wind. Not least the uncertainty over future volumes and regulation in many key markets for the period after 2020. We\u2019re a long way from being able to say job done on offshore wind.\u201d<\/p>\n

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. The average size of the 114 new turbines installed was 4.8 MW, up from 4.2 MW a year ago.<\/p>\n

In June, energy ministers from 9 European countries signed a Memorandum of Understanding (MoU) and Work Programme to enhance their cooperation on offshore wind. In parallel 11 energy companies signed a declaration to reduce offshore wind costs to below \u20ac80\/MWh by 2025. This assumes an annual build-out of 4-7 GW of offshore wind from 2021 onwards.<\/p>\n

Dickson added: \u201cThe costs of offshore wind are falling, but we need healthy volumes in the market to sustain this. The current pipeline of projects is not enough, and the commitments the Member States have so far made for beyond 2020 fall well short of what\u2019s needed. This risks undermining Europe\u2019s competitive position in offshore wind. We\u2019re number one today with over 90% of the world\u2019s capacity, but the US and China are now moving towards rapidly expanding their offshore wind investments.\u201d<\/p>\n

Clearer deployment goals and long-term visibility on tender volumes and timetables will mean a strong industry and supply chain \u2013 and competitive bidding leading to lower costs. It will also mean lower costs of capital, and with offshore wind so CapEx heavy, this is key to total cost reduction. Coordination of national tenders \u2013 which the 9 countries committed to in their recent MoU \u2013 will also help.<\/p>\n","protected":false},"excerpt":{"rendered":"

The European offshore wind industry attracted a record \u20ac14 billion in new investments during the first six months of 2016, as the key trends and statistics from WindEurope show. Giles Dickson, CEO of WindEurope, said: \u201cThe record investment numbers show a clear industry commitment to offshore wind. We expect installations will pick up significantly in 2017 but there are a lot of challenges out there still on offshore wind. Not least the uncertainty over future volumes and regulation in many key markets for the period after 2020. We\u2019re a long way from being able to say job done on offshore wind.\u201d<\/p>\n","protected":false},"author":2,"featured_media":6510,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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