Offshore Wind is Breaking Out Of Its Incubator Markets
From the North Sea to New Jersey, offshore wind tenders have successfully been awarding gigawatts of contracts to bankable, sizeable and increasingly economical projects.
This year has been dominated by falling prices, with offshore wind joining its onshore cousin and solar PV in beating some conventional power prices.
Now it looks like 2020 could see a host of new markets opening for the technology.
Europe has set the pace so far with 18.5 gigawatts deployed at the turn of the year. But just two countries, the U.K. and Germany were responsible for 85 percent of this.
In its recent quarterly results, Danish energy company and offshore wind developer Ørsted provided a powerful visual demonstration of why this is set to change.
In the next two years the Netherlands will tender 2,280 megawatts. Neighbors German and Belgium will add another 900 and 700 megawatts respectively. France will also chip in with 1,000 megawatts. Denmark will make between 800 and 1000 megawatts available and the next round of the U.K. contracts for difference (CfD) auction will make up to 4,000 megawatts available.
Beyond Europe Ørsted is also tracking tenders in Taiwan and Japan, and 4,000 megawatts in the U.S. across four states.
And these are just the competitive tenders already in the diary; there is potential beyond this.
The new-look renewables focused utility RWE acquired four projects in Poland last month. The portfolio has a total capacity of 1,500 megawatts and construction could be underway a....