Ever-bigger turbines and floating platforms are helping to accelerate the growth of offshore wind power development in Europe, where immediate prospects remain strong, especially in the United Kingdom. But the uncertain pipeline of projects beyond 2020 could hinder continuing investment, says Pierre Tardieu, chief executive officer of the Brussels-based trade body WindEurope.
WE’s recently published 2017 review reveals Europe’s commitment for 12% more offshore generating capacity (11.5 GW) and a 20% drop in investment, reflecting falling costs. Offshore wind investment last year included $27 billion for new farms and $35 billion for project acquisition and other financial transactions.