Offshore Wind
  • Fixed-Bottom
  • Floating Wind
  • Supply Chain
  • Contracts & Tenders
  • Grid Connection
  • More news
JobsNewsletter
Offshore Wind logo

Your trusted source for global offshore wind news, part of the Navingo network.

Topics
  • Fixed-Bottom
  • Floating Wind
  • Grid Connection
  • Power-to-X
  • Supply Chain
Network
  • Offshore Wind
  • Dredging Today
  • NavalToday
  • Offshore Energy
  • Maritieme Vacaturebank
Company
  • Advertising
  • Newsletter
  • Jobs
  • Report your news
  • Privacy

© 2026 Navingo. All rights reserved.

Home›Business & Finance›Germany: Siemens Works to Reduce Offshore Wind Costs
Business & Finance

October 10, 2013 · about 13 years ago

Germany: Siemens Works to Reduce Offshore Wind Costs

Siemens will reduce the cost of offshore wind turbines by 30 percent by 2020. The head of the offshore wind business from Siemens, Michael Hannibal told this to the Handelsblatt news site. As a result, the price of electricity per kilowatt-hour will drop to about ten euro cents. Today, the kilowatt

1 minutes read
  • LinkedIn
  • X
  • Email

Siemens will reduce the cost of offshore wind turbines by 30 percent by 2020. The head of the offshore wind business from Siemens, Michael Hannibal told this to the Handelsblatt news site.

As a result, the price of electricity per kilowatt-hour will drop to about ten euro cents. Today, the kilowatt hour costs from 12.8 up to 14.2 euro cents. This applies to all costs: from production of a wind turbine, its transport, to the installation and maintenance. Offshore wind power is very expensive compared to electricity generated from wind turbines on land, which can be bought for about 7 euro cents.

To reduce costs, Siemens needs to play its part. “We are working at full speed to lower production and maintenance costs further,” Hannibal said.

He expects to achieve much with the new six-megawatt machine for offshore wind farms, which is gearless. Here, engineers have reduced the rotating components in the nacelle by half.

In Germany, the cost of offshore wind farms is strongly criticized. They arise far away from the coast, in deep waters. This makes them risky and expensive. Therefore, some critics are calling to abandon the billions of investment in offshore wind energy.

[mappress]

Offshore WIND Staff, October 10, 2013; Image: Siemens

Reach the Offshore Wind industry in one go!

Offshore Wind is read by thousands of professionals every day.

Increase your visibility with banners, tell your story with a branded article, and showcase your expertise with a full-page company profile in our business directory.

CONTACT

Follow Offshore Wind on:

Filed under

Business & FinanceR&DTechnology

Daily Offshore Wind News in Your Mailbox

Join thousands of industry professionals who start their day with our newsletter.

Trending Now

  1. 1Balfour Beatty Wins Contract for Substation to Connect Three Dogger Bank Wind Farms
  2. 2Archer Weighs Sale of Offshore Wind Business After Culzean Project Setbacks
  3. 3Vattenfall Tests New Bird Monitoring Tech at Dutch Offshore Wind Farm
  4. 4IFM Investors to Acquire Majority Stake in UK Port Operator ABP

Daily Offshore Wind News in Your Mailbox

Join thousands of industry professionals who start their day with our newsletter.

Subscribe free