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April 17, 2019updated 10 Jun 2020 4:40pm

E.ON and Equinor open Arkona offshore windfarm in the Baltic

German Chancellor Angela Merkel and Norway’s minister of energy and oil Kjell Borge Freiberg opened Arkona windfarm on 16 April.

By Jack Unwin

German Chancellor Angela Merkel and Norway’s minister of energy and oil Kjell Borge Freiberg opened Arkona windfarm, the largest offshore windfarm in the Baltic Sea, in a ceremony on 16 April.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The windfarm is a joint project between German energy company E.ON and Norwegian multinational Equinor. Located off the coast of the island of Rügen, Northern Germany and built at a cost of nearly $1.4bn (€1.2bn), it is formed of 60 6MW turbines supplied by Spanish wind energy company Siemens Gamesa and offers a total capacity of 385MW. It can supply 400,000 households with electricity and saves 1.2 million tonnes of CO2 annually.

Siemens Gamesa tweeted: “Installation of Arkona offshore wind power plant in Germany in record time. Construction works, including installation & commissioning of 60 direct drive offshore wind turbines completed in just 5 months.”

Equinor chairman Jon Erik Reinhardsen said: “The Arkona opening is a key milestone for Equinor. The wind farm has the capacity to supply renewable energy to 400,000 German homes. Equinor is already meeting 25% of Germany’s need for natural gas.

“Arkona is Equinor’s fourth wind farm coming online since 2012 and is a key contribution to developing Equinor into a broad energy company. We would also like to thank E.ON for its excellent work on the development and operations of Arkona.”

E.ON Chairman Johannes Teyssen added: “The task now is to expand renewable energies vigorously and at the same time make them cheaper. Green energy must be delivered to people and businesses much more efficiently than before. This is a Herculean task that requires all the strength of large companies. E.ON will focus on better integration and utilization of renewables for our customers and society.”

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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