As profit margins in European offshore wind have been squeezed in recent years by tenders and fluctuating power prices, developers and investors have been on the lookout for deals and projects in untapped markets. These ambitions have been backed by governments, and this means the offshore wind market is now global in a way it wasn’t even two years ago.
But which of these countries have the most potential for investors? And what are the risks? These are the questions that we answer in this special report.
This is our guide for investors in 18 key emerging markets in offshore wind. We analyse the potential of these countries based on factors including government support, wind resources and investor interest. Our main focus is on Asia-Pacific, Europe and North America.
We also look at the important role of political stability to building an offshore wind market, and how this can affect the appetite for investment by firms throughout the supply chain.
The report includes an exclusive interview with LM Wind Power’s CEO Duncan Berry, who talked to us about LM’s integration with General Electric, following its €1.5bn buyout in April 2017; the company’s strategy; and how technological innovation can help companies in the offshore wind industry to grow and go global.
In addition, we talk to MHI Vestas CEO Philippe Kavafyan about the offshore turbine maker’s approach to global growth; and we analyse the offshore wind sector in Turkey.