EnergyWatch

CIP partner predicts changes for offshore wind trend

As global markets open up, the validity of the most prevalent single explanation for offshore wind's massive price drop in recent years might not continue, says the developer's head of offshore wind.

Photo: Siemens

Larger turbines are a necessary but insufficient condition for creating lower offshore wind prices. That logical claim has been the primary explanation for offshore wind's dramatic price decline in recent years, where prices in Europe have decreased from EUR 0.13 per kWh, and subsidy-free offshore wind is now being discussed in various corners of Europe. Even though other factors also play a role, the expectation of using next-generation wind turbines was, for instance, one the key causes for Ørsted's well-publicized zero-subsidy bid at a German auction held last year.

The validity of this claim may not necessarily hold over time, according to Copenhagen Infrastructure Partners (CIP) partner Michael Hannibal, who before being joining CIP was CEO for market leader Siemens Gamesa's offshore wind business. As the offshore wind industry expands globally, what holds true for the North Sea area will not apply as a universal.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Siemens Gamesa to squeeze GE's flagship out of US market

The ongoing patent lawsuit between GE and Siemens Gamesa stands to greatly backfire for the US giant, which could force players such as Ørsted to find new offshore wind turbines. The power company itself claims this risks leading to ”potentially irreversible” delays on a gigawatt-scale project.

Norway plans to control hydro to safeguard power supply

With the country’s hydroelectric reservoirs now at low levels after a dry spring, Norwegian policymakers consider reducing electricity export to Europe, but any move to do so, barring emergency, must adhere to single energy market regulations, says interest group.

Further reading

Related articles

Latest News

See all jobs