Utility Companies Boost European Offshore Wind Investments
Utility companies in Europe encourage offshore wind-energy capacity amid rising fossil-fuel prices and political pressure, according to MarketWatch.
Utility firms have initiated projects offshore, as the demand for offshore wind farms is set to continue with geopolitical goals to reduce carbon emissions and increase the requirement for clean alternative energy.
In 2011, 80 percent of installed offshore capacity was developed by utilities, with DONG Energy, Vattenfall and E.ON AG as the largest developers.
“In our part of the world, we’ve seen the opportunity that offshore will grow. We expect 37 GW to be installed in 2020 in Europe and the utility companies want a part of that market,” said Christina Grumstrup Sorensen, senior vice president at DONG Energy.
Steen Broust Nielsen, director at renewable energy consulting firm Make Consultants said: “If I were to invest in the wind industry, I would choose a company with a market position in the offshore sector or emerging markets.”
“We’re increasingly seeing utilities going for wind power because it’s an insurance against rising fuel prices,” Christian Kjaer, chief executive at the European Wind Energy Association (EWEA) pointed out.
Offshore WIND staff, May 4, 2012; Image: DONG Energy