ABERDEEN, Scotland – Global offshore wind farm capacity will grow at a compound annual rate of 32% in the coming decade, according to a new report by energy consulting firm ODS-Petrodata. The International Offshore Wind Market to 2020 report predicts that, by the end of 2020, global offshore wind farm capacity will have soared to 55 gigawatts (GW), or enough to power almost 37 million European homes. Current installed capacity is under 2GW.
Based on an analysis of more than 700 projects and prospects in the company’s database, ODS-Petrodata forecasts US$61.4 billion of capital expenditure in the sector between now and 2014. For 2016 to 2020, total capital expenditure could be double that.
Bottlenecks in the supply chain are already being relieved by new entrants. Several emerging European manufacturers of offshore-rated turbines will challenge the dominance of Siemens of Germany and Vestas of Denmark in the next few years, and will later be joined by a batch of Asian manufacturers, including such South Korean conglomerates as Hyundai, and at least 10 Chinese firms. More at www.ods-petrodata.com
Offshore wind farms could power 37 million homes in Europe
ABERDEEN, Scotland – Global offshore wind farm capacity will grow at a compound annual rate of 32% in the coming decade, according to a new report by energy consulting firm ODS-Petrodata. The International Offshore Wind Market to 2020 report predicts that, by the end of 2020, global offshore wind farm capacity will have soared to 55 gigawatts (GW), or enough to power almost 37 million European homes. Current installed capacity is under 2GW.
Based on an analysis of more than 700 projects and prospects in the company’s database, ODS-Petrodata forecasts US$61.4 billion of capital expenditure in the sector between now and 2014. For 2016 to 2020, total capital expenditure could be double that.
Bottlenecks in the supply chain are already being relieved by new entrants. Several emerging European manufacturers of offshore-rated turbines will challenge the dominance of Siemens of Germany and Vestas of Denmark in the next few years, and will later be joined by a batch of Asian manufacturers, including such South Korean conglomerates as Hyundai, and at least 10 Chinese firms. More at www.ods-petrodata.com