Offshore wind will see $16 billion of capital expenditure in the coming five year period as 4.5 GW of new capacity is installed, according to The World Offshore Wind Report
2008-2012, published by Douglas-Westwood.
With just over 1.1 GW of capacity currently installed, this represents significant market growth and leads to an annual capital expenditure of over $5.2 billion by 2012.
In comparison to the previous five year period, development and construction costs will rise by 51% for the period to 2012. Whilst this is impacting on some projects we are seeing energy majors pushing forward large projects through balance-sheet financing determined to gain early market share. In common with other reports of Douglas-Westwood’s acclaimed series, The World Offshore Wind Report is aimed at executive readers. The report does not assume detailed technical knowledge of the subject.
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