Posted by OilVoice Press - OilVoice
Westwood's most recent edition of the Word Offshore Wind Market Forecast is now available. The UK is expected to remain a key contributor to the market, accounting for 18GW in additional capacity over 2017-2026 (exclusive of projects at the concept and speculative stages). Notably, as the current update of the report was being finalised, the results of the latest UK CfD (contract for difference) were announced, with two projects (Hornsea 2 and Moray Offshore) securing CfDs at a strike price of £57.50/MWh, and a third (Triton Knoll) securing a price of £74.75/MWh. When compared to the average strike price of £117/MWh in the previous auction, and award to the Hinkley Point C nuclear project at £92.50/MWh, this is illustrative of the significant reduction in the cost of generating renewable energy.
Cumulative Capacity by Country, 2016-2026
*All figures are inclusive of projects yet to develop past conceptual phases.
Other Key Conclusions – Click Here
Since the Q2 2017 edition of the report, Westwood has made revisions to the projected construction and online years for a number of projects including those in China, Germany and Estonia…
For more details on this and forecast changes, please view the latest Offshore Wind Market Forecast webpage here or contact Gareth Hector on;
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