Offshore wind power market in 2003
- 418 new offshore wind turbines, in 13 wind farms, worth between €4.6 billion and €6.4 billion, were fully grid connected between 1 January and 31 December 2013, totalling 1,567 MW, 34% more than in 2012.
- 522 turbines were erected during 2013, an average of 4.3 MW per day. 104 of these turbines are awaiting grid connection.
- Work is on-going on 12 projects.
Cumulative offshore wind power market
- 2,080 turbines are now installed and grid connected, making a cumulative total of 6,562 MW, in 69 wind farms in eleven European countries.
- 75% of substructures are monopiles, 12% gravity, jackets 5%, tripods 5%, and tripiles 2%.
- There are also two full-scale grid-connected floating turbines, and two downscaled prototypes.
Market outlook for 2014 and 2015
- Once completed, the 12 offshore projects currently under construction will increase installed capacity by a further 3 GW, bringing cumulative capacity in Europe to 9.4 GW.
Trends - turbines, foundations, water depth and distance to shore
- Average offshore wind turbine size is 4 MW.
- Average offshore wind farm size was 485 MW in 2013, 78% more than the previous year. The trend towards larger projects is expected to continue over the coming years.
- The average water depth of wind farms completed, or partially completed, in 2013 was 20 metres (m) and the average distance to shore 30 km.
Financing highlights and developments
- Non-recourse debt finance for offshore wind reached €2.13 billion in 2013, increasing on the €1.93 bn reached in 2012 and following €2.33 bn in 2011.
- Two landmark projects reached financial close in 2013: Butendiek project in Germany, and the refinancing of Masdar’s stake in the London Array project in the UK, the largest offshore project in the world.
- Financing markets remained open for the offshore wind sector in 2013 and active throughout the year across a variety of instruments, with continued sustained activity expected in 2014.