UK Attracts Majority of Offshore Wind Investments in 2016

UK offshore wind projects attracted around three quarters of all investments in Europe’s offshore wind capacity in the first six months of 2016, data released by WindEurope shows.

UK-based projects which reached Final Investment Decision (FID) in the first half of 2016 carry a price tag of EUR 10.37 billion (GBP 8.7 billion) and have a total capacity of 2,502MW, while offshore wind projects in the rest of Europe attracted around EUR 3.7 billion in new investments throughout the first six months of 2016, bringing a total investment in Europe’s offshore wind for the period to little over EUR 14 billion.

“Offshore wind has been a real success story for the UK, and these latest figures are further evidence of this – investment in UK infrastructure projects so far this year are worth over £8.5bn across their lifetime,” RenewableUK’s Deputy Chief Executive Maf Smith said.

”We know there’s more to come as well – the UK will invest over £20bn in wind energy in the next five years. Throughout the country offshore wind is creating jobs and revitalising coastal areas.”

The UK projects which reached FID in the first half of 2016 include DONG Energy’s 1.2GW Hornsea Project One, ScottishPower Renewables’ 714MW East Anglia ONE, and SSE’s 588MW Beatrice offshore wind farm.