Frost & Sullivan: Offshore Wind Energy Set to Boom in the Next Few Years
The UK government has been blamed for its renewable energy policies not having enough teeth to encourage companies to invest in the UK whether it be onshore or offshore or project development or manufacturing. However, with the increase in the number of Renewable Obligation Certificates (ROCs) from 1.5 ROCs/Wh to 2 ROCs/MWh outlined in the budget in April the UK government gave a huge boost to the offshore wind energy industry.
The green light for the 1GW offshore wind farm in the UK, the world’s biggest wind farm project, is the beginning of new and important developments of projects in this market. Frost & Sullivan’s Industry Analyst
The investors of the biggest proposed offshore wind farm in the world, the 1GW London Array, yesterday decided to go ahead with the project after a roller coaster ride of events. The wind farm, owned by Danish wind project developer Dong Energy (50%), German utility E.ON (30%) and Masdar (20%), a government of
“The offshore wind industry has a lot of potential. However, the technology is very nascent. This is one of the reasons why investment costs are very high,” says
Although there are a number of problems that plague the offshore wind energy market, an important way of cutting costs is to invest into R&D of technology, installation and O&M. Countries like the UK and
Frost & Sullivan has expanded its flagship Global Congress on Corporate Growth – GIL Global – into several major cities around the world including
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SOURCE Frost & Sullivan