WindEurope Annual Offshore Statistics 2018

Subtittle if needed.
If not MONTH 2018

Published in Month 2018
Offshore Wind
in Europe
Key trends and statistics 2018
Offshore Wind
in Europe
Key trends and statistics 2018
Published in February 2019
windeurope.org
This report summarises construction and financing activity in
European offshore wind farms from 1 January to 31 December
2018.
WindEurope regularly surveys the industry to determine

the level of installations of foundations and turbines, and
the subsequent dispatch of first power to the grid. The data
includes demonstration sites and factors in decommissioning
where it has occurred. Annual installations are expressed
in gross figures while cumulative capacity represents net
installations per site and country. Rounding of figures is at the
discretion of the author.
DISCLAIMER
This publication contains information collected on a regular
basis throughout the year and then verified with relevant
members of the industry ahead of publication. Neither
WindEurope, nor its members, nor their related entities are,
by means of this publication, rendering professional advice
or services. Neither WindEurope nor its members shall be
responsible for any loss whatsoever sustained by any person
who relies on this publication.
TEXT AND ANALYSIS:

WindEurope Business Intelligence
Florian Selot
Daniel Fraile
Guy Brindley
EDITORS:
Colin Walsh, WindEurope
DESIGN:
Laia Miró, WindEurope
FINANCE DATA:
Clean Energy Pipeline.
All currency conversions made at EUR/ GBP 0.8774 and EUR/USD 1.1330
Figures include estimates for undisclosed values
PHOTO COVER:
Courtesy of MHI Vestas Offshore Wind
MORE INFORMATION:
policy@windeurope.org
+32 2 213 18 68
EXECUTIVE SUMMARY...................................................................................................... 7
CONTENTS
1. OFFSHORE WIND INSTALLATIONS ............................................................................ 11
1.1 Overview .......................................................................................................................... 11

1.2 National breakdown of 2018 installations ........................................................ 14
1.3 Cumulative installations ............................................................................................ 18
2. TRENDS: TURBINE SIZE, WIND FARM LOCATION .............................................. 20
2.1 Wind turbine rated capacity.................................................................................... 20

2.2 Wind farm size ............................................................................................................... 21
2.3 Water depth and distance to shore ..................................................................... 22
3. INDUSTRY ACTIVITY AND SUPPLY CHAIN ............................................................. 25
3.1 Wind turbine manufacturers .................................................................................. 25

3.2 Wind farm owners ....................................................................................................... 27
3.3 Substructures and foundations ............................................................................. 29
3.4 Cables ............................................................................................................................... 31
4. INVESTMENTS ....................................................................................................................... 33
4.1 Financing activity in 2018 ........................................................................................ 33

4.2 Offshore wind debt finance ..................................................................................... 36
4.3 Acquisition activity ....................................................................................................... 37
EXECUTIVE
SUMMARY
In 2018 Europe connected 409 new offshore wind tur- Europe now has a total installed offshore wind capacity
bines to the grid across 18 projects. This brought 2,649 of 18,499 MW. This corresponds to 4,543 grid-connected
MW of net additional capacity. wind turbines across 11 countries.
FIGURE A
Annual offshore wind installations by country and cumulative capacity (MW)
Cumulative Installed Capacity (MW)

4,000 20,000
Annual Installed Capacity (MW)
3,500 17,500
3,000 15,000
2,500 12,500
2,000 10,000
1,500 7,500
1,000 5,000
500 2,500
0 0
2
4
08
5
09
11
17
8
16
10
1
20
20
20
20
20
20
20
20
20
20
20
UK Germany Belgium Denmark Spain Sweden

Netherlands France Finland Norway Portugal

Source: WindEurope
Offshore Wind in Europe - Key trends and statistics 2018 7

WindEurope
Executive summary
Separately, twelve new offshore wind projects reached of additional capacity, which will come on line in the next
Final Decision Investment (FID) in 2018. Investments in couple of years.
new assets amounted to €10.3bn. This financed 4.2 GW
FIGURE B
New offshore wind investments and capacity financed: 2010-2018 (€bn)
20 20
18 18
18.2
16 16
14 14
12 13.1 12
€bn
GW
10 10
10.3
8 8.8 8
8.4
6 7.2 7.5 6
6.1
4 5.0 4
2 2
0 0
2010 2011 2012 2013 2014 2015 2016 2017 2018
Total investments (€bn) New capacity financed (GW)
Source: WindEurope
Installations in 2018
• Europe added 2,649 MW of net offshore capacity. • For the first time in Europe, GE Renewable Energy
This is 15.8% lower than in 2017, which was a record connected their latest turbine: the Haliade 150-6
year. MW. 20 of these turbines were grid-connected at the
Merkur wind farm, Germany.
• The 2,649 GW represent 409 grid-connected
offshore wind turbines across 18 wind farms.
• 15 wind farms were completed (fully grid- Cumulative installations

connected). Another 3 got partial grid connection
and will continue to connect turbines in 2019. • 4,543 offshore turbines are now installed and grid-
Construction work started on other 6 wind farms connected, making a cumulative total of 18,499 MW.
where no turbines have yet been grid-connected.
• Including sites with partial grid-connected turbines,
• Installations in the UK and Germany accounted for there are now 105 offshore wind farms in 11
85% of all new additions. European countries.
• Siemens Gamesa Renewable Energy and MHI • The UK has the largest amount of offshore wind
Vestas Offshore Wind accounted for 95% of all capacity in Europe with 44% of all installations in MW.
the connected turbines in 2018 (62% and 33% Second is Germany with 34%, followed by Denmark
respectively). (7%), Belgium (6.4%) and the Netherlands (6%).
8 Offshore Wind in Europe - Key trends and statistics 2018

WindEurope
Executive summary
Trends: turbine and wind farm size, depth, distance Financing highlights
from shore
• Investments in new offshore wind amounted to
• The average size of newly-installed offshore wind €10.3bn, a 37% increase from 2017.
turbines in 2018 was 6.8 MW, a 15% increase on 2017.
The UK connected the largest turbine in the world • Twelve projects reached FID, totalling 4.2 GW of
(the V164-8.8 MW from MHI Vestas Offshore Wind). additional capacity.
• The average size of wind farms in construction in • The 37% increase in investments generated an 86%
2018 was 561 MW. In the UK, construction work increase in capacity financed.
started on the largest wind farm in the world: the
1,200 MW Hornsea One project. • Refinancing of offshore wind farms hit a record
level of €8.5bn, bringing total investments including
• The world’s current largest operational wind farm – transmission lines (€0.7bn) to €19.6bn.
Walney 3 extension (657 MW) – was fully connected
in the UK. • Non-recourse debt for new and operational wind
farms raised €16.5bn.
• The largest wind farm in Germany – Borkum
Riffgrund II (465 MW) – was fully commissioned. • There were 3.8 GW of project acquisition activity and
2.3 GW of potential projects acquired at the pre-
• The largest wind farm in Belgium – Rentel 309 MW – development stage.
was fully connected.

WindEurope
Photo: Ørsted
1.
OFFSHORE WIND
INSTALLATIONS
1.1 OVERVIEW
Europe connected 2,649 MW of net offshore wind power (61 MW), and Belgium doubled its annual installations
capacity in 2018. This is 15.8 % lower than in 2017, which in comparison to 2017 (309 MW). The Netherlands did
was a record year. It added 2,660 MW of new (gross) ca not grid-connect any offshore wind, but is set to have a
pacity. 7 turbines were fully decommissioned at the Ut- record year in 2019 with about 1 GW of new offshore
grunden I wind farm in Sweden, which was commissioned installations3.
back in 2000. This accounts for the decommission of 10.5
MW in 20181. Installations were in line with previously Europe’s cumulative offshore wind capacity reached
forecasted scenarios2. 18,499 MW at the end of 2018. Including sites with partial
grid connection, there are now 105 offshore wind farms
The UK and Germany connected slightly less capacity than in 11 European countries and 4,543 grid-connected wind
in 2017, with 1,312 MW and 969 MW respectively. Den- turbines.
mark had new connections for the first time since 2013
1. Separately, 2.75 MW were boosted into 3.3 MW due to rotor and blade upgrades in 5 turbines. See page 14 for more info.
2. WindEurope Market Outlook, September 2017.
3. WindEurope Market Outlook, September 2017.

WindEurope
Offshore wind installations
FIGURE 1
Annual offshore wind installations by country and cumulative capacity (MW)

4,000 20,000
Annual Installed Capacity (MW)
3,500 17,500
3,000 15,000
2,500 12,500
2,000 10,000
1,500 7,500
1,000 5,000
500 2,500
0 0
12
13
14
08
15
09
11
17
18
16
10
20
20
20
20
20
20
20
20
20
20
20
UK Germany Belgium Denmark Spain Sweden

Netherlands France Finland Norway Portugal
Source: WindEurope
TABLE 1
Overview of grid-connected offshore wind power projects at the end of 2018
NO. OF
NO. OF WIND CUMULATIVE NO. OF NET CAPACITY
TURBINES
COUNTRY FARMS CAPACITY TURBINES CONNECTED
CONNECTED
CONNECTED (MW) CONNECTED IN 2018
IN 2018
TOTAL 105 18,499 4,543 2,649 409
United
39 8,183 1,975 1,312 222
Kingdom
Germany 25 6,380 1,305 969 136
Denmark 14 1,329 514 61 42
Belgium 7 1,186 274 309 8
Netherlands 6 1,118 365 0 1
Sweden 4 192 79 -10 -7
Finland 3 71 19 0 0
Ireland 1 25 7 0 0
Spain 2 10 2 5 1
France 2 2 2 2 2
Norway 1 2 1 0 0

WindEurope
Cumulative
GW
2.6 GW
installed capacity
at the end of 2018
OF NEW OFFSHORE
GW
WIND POWER IN EUROPE
Gross
18.5 GW
installations
in 2017
TOTAL EUROPE
8.2
0.2 0.07
0.003
0.002
6.4
1.3
0.06
1.3
3 1.1
0.05 1
1.2
0.3
0.002
0.002
0.01
0.005
Source: WindEurope Offshore Wind in Europe - Key trends and statistics 2018 13
WindEurope
1.2 NATIONAL BREAKDOWN OF 2018 INSTALLATIONS

The United Kingdom with 1,312 MW represented 49% Denmark connected 61 MW from Horns Rev 3, which
of Europe’s gross capacity brought online in 2018. Out should be completed in 2019 with a total 407 MW of
of the 7 wind farms that got grid-connected, 6 were ful- capacity.
ly commissioned and one (Beatrice 2) started to connect
turbines to the grid. The Walney 3 Extension wind farm Spain saw the connection of its second offshore wind tur-
was completed in October 2018, becoming the largest op- bine off the coast of Grand Canaria. This interesting pro-
erational offshore wind farm worldwide with 87 turbines ject, realised under the EU-funded ELICAN project, has a
and a capacity of 657 MW. One floating turbine, Kincar- self-installing telescopic substructure for low-cost crane-
dine Pilot, was connected off the Scottish coast. less installations, allowing for deep offshore projects.
Germany with 969 MW across 3 wind farms represent- France saw the grid connection of two floating offshore
ed 36% of the European gross capacity brought online in wind turbines. The Floatgen project (2 MW) off the coast
2018. One of them, Borkum Riffgrund II (465 MW) was of Brittany, and the Eolink 1/10 project, which connected
fully connected to the grid, becoming the largest offshore a prototype turbine of about 200 kW in Brittany.
wind farm in Germany to date.
Sweden did not install any new offshore wind farms. How-
Belgium, with 309 MW connected to the grid from the ever, 5 turbine rotors (including the blades) in the Bocks-
fully completed Rentel wind farm, represented 12% of tigen wind farm were boosted, increasing the rated pow-
the European gross capacity brought online in 2018. er of each turbine from 550 to 660 kW. The Utgrunden I
wind farm decommissioned 7 turbines, totalling 10.5 MW.
FIGURE 2
Annual offshore wind capacity installations per country in 2018 (MW)
United Kingdom 1,312 MW
Germany 969 MW
Belgium 309 MW
Denmark 61 MW
Spain 5 MW
Sweden 3 MW
France 2 MW
0 200 400 600 800 1,000 1,200 1,400

Gross Installed Capacity (MW)
Source: WindEurope

WindEurope
In total 24, offshore wind farms across 7 countries had but started work with foundation installations (see tables
works going on in Europe in 2018. 18 of these connected 2 and 3).
turbines to the grid, and 6 did not connect any turbine
FIGURE 3
Projects connected to the grid per country (MW)
ELISA ELICAN Bockstigen (blade upgraded)

5 MW 3.3 MW
Nissum Bredning Floatgen

28 MW 2 MW
Horns Rev 3 Eolink 1/10 scale prototype

33.2 MW 0.2 MW
Rentel
Walney 3 (Extension
308.7 MW
Phase 2 - East)
Spain 329 MW
Sweden
Merkur Offshore 5 MW 3 MW
120 MW
Denmark France Galloper
61 MW 2 MW 277.2 MW
Belgium
309 MW
United
Kingdom
Germany 1,312 MW Beatrice 2
Arkona 969 MW
384 MW 273 MW
Rampion
220.8 MW
European Offshore Wind

Development center (EOWDC)
93.2 MW
Borkum Riffgrund II
464.8 MW Walney 3 (Extension
Race Bank Phase 1 - West)
50.4 MW 66 MW
Kincardine Pilot
2 MW
Source: WindEurope

WindEurope
TABLE 2
Summary of work carried out at European offshore wind farms with grid connection during 2018
CAPACITY NUMBER
COUNTRY WIND FARM CONNECTED OF TURBINES TYPE STATUS4
IN 2018 (MW) CONNECTED IN 2018
Walney Extension
329 47 Bottom-fixed
Phase East
Galloper 277.2 44 Bottom-fixed
Beatrice 2 273 39 Bottom-fixed
Rampion 220.8 64 Bottom-fixed

United kingdom
EOWDC 93.2 11 Bottom-fixed
Walney Extension
66 8 Bottom-fixed
Phase West
Race Bank 50.4 8 Bottom-fixed
Kincardine Pilot 2 1 Floating
Borkum Riffgrund II 464.8 56 Bottom-fixed
Germany Arkona 384 60 Bottom-fixed
Merkur Offshore 120 20 Bottom-fixed
Belgium Rentel 308.7 42 Bottom-fixed
Horns Rev 3 33.2 4 Bottom-fixed

Denmark
Nissum Bredning 28 4 Bottom-fixed
Spain ELISA ELICAN 5 1 Bottom-fixed
Bockstigen
Sweden 3.3 5 Bottom-fixed
(boosted)
Floatgen 2 1 Floating
France
Eolink Prototype 0.2 1 Floating
4. One bar <25% grid connected. 2 bars <50% grid connected. 3 bars <75% grid connected. 4 bars <100% grid connected.
5 bars: fully grid connected

WindEurope
TABLE 3
Summary of work carried out at European offshore wind farms without grid connection during 2018
FOUNDATIONS TOTAL
TYPE OF
COUNTRY WIND FARM INSTALLED NUMBER OF
FOUNDATIONS
IN 2018 FOUNDATIONS
East Anglia 1 37 102 Jacket
United Kingdom
Hornsea One 156 174 Monopile
Deutsche Bucht 29 31 Monopile
Hohe See 63 71 Jacket
Germany
Trianel Windpark
32 32 Monopile
Borkum 2
Belgium Norther 44 44 Monopile
The North Sea registered the largest amount of grid con- lations, driven by connections in the Arkona wind farm.
nections (1,651 MW), representing 62% of the installa- The Atlantic Ocean registered 9% of the new installations,
tions. This was followed by the Irish Sea (15%), with the driven by the work in Rampion wind farm.
Walney 3 extension Phase 2 - East and Walney 3 exten-
sion Phase 1 - West. The Baltic Sea saw 14% of the instal-
FIGURE 4
Gross annual installations by sea basin in 2018 (MW)
North Sea 1,651 MW
Irish Sea 395 MW
Baltic Sea 387 MW
Atlantic Ocean 229 MW
0 500 1,000 1,500 2,000
Net Installed Capacity in 2018 (MW)
Source: WindEurope

WindEurope
1.3 CUMULATIVE INSTALLATIONS

By the end of 2018, there were 18,499 MW of installed ca- with 34%, followed by Denmark (7%), Belgium (6.4%) and
pacity, with a total of 4,543 turbines connected to the grid the Netherlands (6%).
across 11 countries. 98% of this capacity is concentrated
in just five countries. Other countries – including Spain, Finland, France, Swe-
den, Norway and Ireland – cumulatively represent only
The UK has the largest amount of offshore wind capacity 2% of the installed capacity.
in Europe with 44% of all installations. Germany is second,
FIGURE 5
Cumulative Installed capacity (MW) and number of turbines by country
UK 44% 8,183 MW / 1,975 turbines
Germany 34% 6,380 MW / 1,305 turbines
Denmark 7% 1,329 MW / 514 turbines
Belgium 6% 1,186 MW / 274 turbines

Netherlands 6% 1,118 MW / 365 turbines
Others 2% 303 MW / 110 turbines
TOP 5 REPRESENTS
98%OF ALL CAPACITY

CONNECTED
Source: WindEurope

WindEurope
The North Sea accounts for 70% of all offshore wind capacity in Europe, followed by the Irish Sea with 16%, the Baltic Sea
with 12%, and the Atlantic Ocean with 2%.
FIGURE 6
Cumulative Installed capacity by sea basin (MW)
North Sea 12,938 MW
Irish Sea 2,928 MW
Baltic Sea 2,218 MW
Atlantic Ocean 413 MW
0 2,000 4,000 6,000 8,000 10,000 12,000 14,000
Net Installed Capacity (MW)
Source: WindEurope

WindEurope
2.
TRENDS:
TURBINE SIZE,
WIND FARM
LOCATION
2.1 WIND TURBINE RATED CAPACITY
In 2018 the average rated capacity of newly installed tur- The largest turbine in the world was installed in the Unit-
bines was 6.8 MW, 15% larger than in 2017. Since 2014 ed Kingdom in 2018. Two V164-8.8 MW from MHI Ves-
the average rated capacity of newly installed wind tur- tas Offshore Wind, with a rotor diameter of 164 m, were
bines has grown at an annual rate of 16%. connected at the European Offshore Wind Development
Centre (EOWDC) wind farm.
FIGURE 7
Yearly average of newly installed offshore wind turbine rated capacity (MW)
8
7
6
5
4
3
2
1
0
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Average rated turbine (MW)

Source: WindEurope

WindEurope
Trends: turbine size, wind farm location
2.2 WIND FARM SIZE

In the last ten years, the average offshore wind farm has Decision (FID) to date. Its construction started in 2018,
increased in size from 79.6 MW in 2007 to 561 MW in with 156 foundations already installed by the end of the
2018. The 1,200 MW Hornsea One project (174 turbines) year. So far, no turbines have been installed.
is the largest offshore wind farm to reach Final Investment
FIGURE 8
Average size of commercial offshore wind farms in construction and grid-connected in the given year
600
500
400
300
200
100
0
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Average wind farm size (MW)
Source: WindEurope
Most of the wind farms in construction are using turbines wind farms using turbines below 6 MW are Rampion in
above 6 MW (the average rated power for the turbines the United Kingdom and a few demonstration projects
is 6.8 MW, indicated by the red line in figure 9). The only (mostly floating).
FIGURE 9
Average turbine rated capacity and number of turbines of wind farms under construction in 2018
200
Number of turbines per wind farm
100
0
0 1 2 3 4 5 6 7 8 9
Turbine Rated Capacity (MW)
United Kingdom Germany Belgium Denmark France Spain Sweden

Turbine average rated power in 2018
Source: WindEurope

WindEurope
2.3 WATER DEPTH AND DISTANCE TO SHORE

The average water depth of offshore wind farms under Kincardine Pilot, a floating demonstration project off the
construction in 2018 was 27.1 m, slightly less than in 2017 coast in Scotland, has an average water depth twice as deep
(27.5 m). The average distance to shore of those projects as all the bottom-fixed offshore wind farms, with 77 m.
was 33 km, a decrease on the previous year (41 km).
Hornsea One in the UK and EnBW Hohe See in Germany

are the projects located farthest from the shore, 103 km
away. Deutsche Bucht, also in Germany, follows at 93 km
from the shore.
FIGURE 10
Average water depth and distance to shore of offshore wind farms under construction in 2018. The size of the bubble
indicates the overall capacity of the site
80
60
Water Depth (m)
40
20
0
0 20 40 60 80 100 120
Distance to Shore (km)
United Kingdom Germany Belgium Denmark France Spain Sweden
Source: WindEurope

WindEurope
FIGURE 11
Average water depth and distance to shore of bottom-fixed offshore wind farms, organised by development status. The
size of the bubble indicates the overall capacity of the site.
60
50
40
Water Depth (m)
30
20
10
0
0 50 100 150 200
Distance to Shore (km)
Online Partially online Under construction With permit
Source: WindEurope

WindEurope
Photo: GE Renewable Energy
3.
INDUSTRY
ACTIVITY AND
SUPPLY CHAIN
3.1 WIND TURBINE MANUFACTURERS
Siemens Gamesa Renewable Energy5 supplied 62.2% of GE Renewable Energy connected its Haliade 150-6 MW
all the new capacity in 2018. MHI Vestas Offshore Wind turbine for the first time in Europe. In 2018, 20 of these
followed with 33.3%. Other turbine suppliers include GE turbines were connected at the Merkur offshore wind
renewable Energy and Eolink (prototype). farm in Germany (another 44 will be connected in 2019).
FIGURE 12
Wind turbine manufacturers’ share of the 2018 annual capacity (MW) and number of turbines connected to the grid
GE Renewable Energy Eolink

5% 1 Turbine
20 Turbines <1 MW Connected
120 MW Connected
MHI Vestas Offshore Wind

33%
150 Turbines
885 MW Connected
Siemens Gamesa
62%
245 Turbines
1,655 MW Connected
Source: WindEurope
5. Adwen offshore company has been merged with Siemens Gamesa.

WindEurope
Industry activity and supply chain
Siemens Gamesa Renewable Energy has the most off- by Senvion (5%). These 3 manufacturers represent 98% of
shore wind turbines in Europe with 69% of the total in- the total number of turbines connected in Europe at the
stalled capacity (see figure 13). MHI Vestas Offshore Wind end of 2018.
is the second largest turbine supplier with 24%, followed
FIGURE 13
Wind turbine manufacturers’ share at the end of 2018
Siemes Gamesa 69% 12.8 GW / 3,115 turbines

MHI Vestas 24% 3.8 GW / 1,068 turbines
Senvion 5% 1.2 GW / 206 turbines
Bard Engineering 2% 0.4 GW / 80 turbines
Others 1% 0.07 GW / 46 turbines
GE Renewable Energy 1% 0.15 GW / 28 turbines
TOP 3 REPRESENT
98%
OF ALL TURBINES
CONNECTED
Source: WindEurope

WindEurope
3.2 WIND FARM OWNERS

Ørsted connected the largest amount of wind capacity and Macquarie Capital with 6% complete the top five
in 2018, representing 17%6, followed by E.ON with 11%. owners with new capacity last year. Together they account
Global Infrastructure Partners with 9%, Equinor with 7%, for 51% of all new capacity in 2018.
FIGURE 14
Owners’ share of 2018 annual installations (MW)
Ørsted 17%
E.ON 11%
Global Infrastructure
Partners 9%
Equinor 7%
Macquarie Capital 7%
Vattenfall 5%
SSE 4%
PKA 4%
PFA 4%
Copenhagen
Infrastructure Partners 4%
Innogy 3%
Siemens 3%
SDIC Power 3%
Partners Group 2%
DEME NV 2%
Enbridge 2%
Others (below 50 MW) 15%
0 50 100 150 200 250 300 350 400 450 500
Capacity owned in MW
Source: WindEurope
6. Grid-connected market shares are indicative only. Projects owned or developed by several companies have been split according to
their respective shares. Where the shares are not known, they have been split in equal parts between the partners.

WindEurope
Ørsted is the largest owner of offshore wind power in Eu- followed by Vattenfall (7%), Innogy (7%), and Macquarie
rope with 16% of the total capacity at the end of 2018 Capital (5%). The top five owners represent 42% of all in-
(figure 15). E.ON is the second largest owner with 8%, stalled capacity in Europe, similar to 2017.
FIGURE 15
Owners’ share of total cumulative installed capacity at the end of 2018 (MW)
Ørsted 16%
E.ON 8%
Vattenfall 7%
Innogy 6%
Macquarie Capital 5%
Northland Power 3%
Stadwerke München 3%
Iberdrola 3%
Siemens 3%
Equinor 3%
SSE 2%
Global Infrastructure
Partners 2%
Ocean Breeze Energy 2%
PKA 2%
Masdar 1%
Copenhagen
Infrastructure Partners 1%
Pension Danmark 1%
Trianel 1%
Eneco 1%
Sumitomo 1%
EnBW 1%
SEAS-NVE 1%
Others 25%
0 1,000 2,000 3,000 4,000 5,000
Capacity owned in (MW)

Source: WindEurope

WindEurope
3.3 SUBSTRUCTURES AND FOUNDATIONS

Monopiles remained the most popular substructure type sioned respectively for the Eolink Prototype and the Kin-
in 2018, representing 66% of all installed foundations, a cardine project.
decrease compared to 2017 (86%). Jackets were the sec-
ond most used substructure, with 162 jackets installed in On the supplier side, EEW installed 49% of all foundations
2018, representing 33% of all foundations installed. in 2018, followed by Sif (29%) and Steelwind Nordenham
(7%).
One floating barge was commissioned for the Floatgen
project and 2 floating semi-sub structures were commis-
FIGURE 16
Foundations installed in 2018 by manufacturing company7
EEW
Sif
Steelwind Nordenham
Lamprell
ST3 Offshore
Navantia-Windar Consortium
Smulders
Esteyco
Chouteaux Metalform
Bouygues Travaux Publics
ASM Industries
0 50 100 150 200 250
Monopile Jacket Semi-Sub Gravity Base Barge
Source: WindEurope
7. Shares are calculated according to the actual number of individual foundations installed in 2018. Where the project developer con-
tracted more than one company to manufacture the foundations, and where the respective shares (in case of consortia/joint venture)
were not specified, foundations installed were split in equal parts between the partners.

WindEurope
Regarding the total installed fleet (see figure 17), Mono- was previously installed to support the substation at Bor-
piles represents 81.9% of all installed substructures in kum Riffgrund I).
Europe.
A new type of substructure was introduced in Europe with
Tripile (1.8%) and Tripod (2.8%) saw no additional installa- the commissioning of the Floatgen project, using Ideol’s
tions in 2018. And the share of jacket foundations (6.6%) floating solution, the Damping Pool (Barge).
rose due to construction at Beatrice 2, East Anglia 1 and
EOWDC. At the latter, Vattenfall installed the first com-
mercial suction-bucket jackets (one suction-bucket jacket
FIGURE 17
Share of substructure types for grid-connected wind turbines at the end of 2018
Floating Spar Floating Semi-Sub

Tripile 6 Foundations 2 Foundations
80 Foundations
Floating Barge
Tripod 1 Foundation
126 Foundations
Others
16 Foundations
Gravity base
301 Foundations
Jacket
446 Foundations
Monopile
4,062 Foundations
Source: WindEurope

WindEurope
3.4 CABLES
FIGURE 18
Share of energised intra-array cables by supplier in 2018
42% of new intra-array cables8 energised in 2018 were

from Nexans. JDR Cable Systems (32.1%) and Prysmian
PRYSMIAN (16.1%) were the other suppliers with energised intra-ar-
Powerlink ray cables.
67 cables
With the commissioning of the Blyth offshore wind farm
Nexans last year, Nexans has now supplied 2 new wind farms with
175 Cables its new 66 kV cable technology.
JDR Cable Systems

166 Cables
Source: WindEurope
FIGURE 19
Share of energised export cable by supplier in 201810
Nexans In terms of export cables9 in 2018 (figure 19), 8 export

1 cable cables manufactured by NKT Group were energised, rep-
resenting 53.3% of the annual market.
JDR Cable
Systems Prysmian, Ls Cable & System, and JDR Cable Systems each
2 cables had a 13.3% share, and Nexans represented the remain-
ing 6.7%.
Ls Cable & System NKT Group

2 cables 8 cables
PRYSMIAN
Powerlink
2 cables
Source: WindEurope
8. Shares are calculated taking into account the number of grid-connected turbines in each wind farm during 2018.
9. In Germany, the export cable is the cable connecting the offshore HVDC substation to the land. In other countries the export cable is
understood as the cable connecting the wind farm to land.
10. Shares are calculated by taking into account the number of export cables in fully completed new wind farms.

WindEurope
Chapter name
Photo: Ørsted
WindEurope
4.
INVESTMENTS
4.1 FINANCING ACTIVITY IN 2018

New offshore wind investments in Europe increased to third highest level on record. Project costs in 2018 were
€10.3bn, up 37% from 2017. After the drop in Final Invest- lower than in the previous three years, allowing 4.2 GW
ment Decisions (FID) in 2017 as the market transitioned to of additional capacity to be financed. This is the second
auctions, investments in offshore wind recovered to the highest amount after a record year in 2016.
FIGURE 20
New offshore wind investments and capacity financed: 2010 – 2018 (€bn)
20 20
18 18
18.2
16 16
14 14
12 13.1 12
€bn
GW
10 10
10.3
8 8.8 8
8.4
6 7.2 7.5 6
6.1
4 5.0 4
2 2
0 0
2010 2011 2012 2013 2014 2015 2016 2017 2018
Total investments (€bn) New capacity financed (GW)
Source: WindEurope

WindEurope
Investments
12 projects reached Final Investment Decision (FID) in in the UK, including Triton Knoll and Moray East, totalling
2018, 95% of which were concentrated in four countries: 1.8 GW of capacity between them. Other significant pro-
the UK, Belgium, Denmark and the Netherlands. The ma- jects were Kriegers Flak (606 MW) in Denmark and Seam-
jority of the new capacity financed – a total of 52% – was ade (487 MW) in Belgium.
TABLE 4
Investment in European offshore wind farms in 2018
TOTAL INVESTMENTS NEW CAPACITY NUMBER OF

(€BN) FINANCED (MW) PROJECTS
United Kingdom 5.4 1,858 3
Netherlands 1.4 732 1
Denmark 1.1 605 1
Belgium 1.8 706 2
Germany 0.4 258 2
Italy 0.1 30 1
Portugal 0.1 25 1
Norway 0.0 4 1
Total 10.3 4,217 12
Since 2010 the UK has attracted 48% of new investments, worth €40bn, making it the biggest offshore wind market over
the last nine years. Germany follows with 34% or €28bn invested over the same period.

WindEurope
Investments
FIGURE 21
Offshore wind investments by country since 2010
UK 48 %
Germany 34 %
Other countries 18 %
82%
OF OFFSHORE WIND
INVESTMENTS SINCE
2010 HAVE BEEN IN
THE UK AND GERMANY
Source: WindEurope
In addition to the investments in new wind farms, 2018 in transmission assets of €0.7bn, offshore wind generated
also saw €8.5bn in refinancing transactions, an 85% in- a total financing activity of €19.6bn.
crease over 2017. With the addition of new investments
FIGURE 22
Investments in the offshore wind sector in 2018 (€bn)
Construction of new €10.3bn 2018

offshore wind projects €7.5bn 2017
€8.5bn
Refinancing offshore wind projects
€4.6bn
Investments in transmission lines: €0.7bn

construction and refinancing €0bn
Source: WindEurope

WindEurope
Investments
4.2 OFFSHORE WIND DEBT FINANCE

Non-recourse debt continues growing in offshore wind fi- to use the favourable market conditions and increased
nancing. In 2018, lenders extended a record €16.5bn of liquidity to restructure their project debt.
non-recourse debt across twenty transactions for the fi-
nancing of both new and operational wind farms. The attractive sector yields have diversified the profile of
lenders. A mix of 50 lenders were active in 2018, a sub-
Non-recourse debt for new asset finance amounted to stantial increase to those present in 2017, including multi-
€8bn in 2018, driven mainly by Moray East and Triton lateral financial institutions, insurance companies, export
Knoll wind farms in the UK, Borssele III & IV in the Nether- credit agencies, and commercial banks. As confidence
lands and Seamade wind farm in Belgium. continues to increase further in the European offshore
wind sector, Japanese banks continue to strengthen their
Refinancing of operational wind farms raised €8.5bn presence in the market.
across nine transactions in the Netherlands, Belgium, Ger-
many and the UK. This is the fourth consecutive year that
refinancing has risen steeply. Project sponsors continue
FIGURE 23
Non-recourse debt trends per type of transaction (€bn)
9
8.5
8
8
7
Non-recourse debt in €bn
6 5.3
5 4.6 4.6
4
3 2.4 2.3
2
1.5
2 1.1 0.9
1 0.4 1.6
0 0 0.5 0.3 0.3
0
2010 2011 2012 2013 2014 2015 2016 2017 2018
New assets Refinancing
Source: WindEurope

WindEurope
Investments
4.3 ACQUISITION ACTIVITY

Project acquisition activity11 increased 30% compared to 2017, totalling 3.8 GW. The equity mix continues to be approx-
imately one third coming from financial investors, and two thirds from power producers.
FIGURE 24
Project acquisition activity in 2018 by type of investor
Power producers Financial services Infrastructure

2,537 MW 1,255 MW funds
67% 33% 647 MW
17%
3.8 GW ACQUISITION ACTIVITY

Asset
managers
173 MW
5%
Diversified
financial services
435 MW
11%
Source: WindEurope
The majority of transactions happened at the pre-con- transactions at the construction and operation phase had
struction stage, the most critical phase for a project’s increased significantly. There were 630 MW acquired at
fundraising, with a record of 2.7 GW acquired. Mean- the construction phase and 425 MW at the operational
while, 2018 bucked the trend of previous years, where phase, a 2% increase and a 4% decrease, respectively.
11. Excluding pre-development phase of projects.

WindEurope
Investments
FIGURE 25
Acquisition activity per project stage 2015-2018
3,000
2,500
2,000
1,500
1,000
500
0
Pre-construction Construction In operation
2015 2016 2017 2018
Source: WindEurope
In addition to those listed above, acquisitions in the pre-development stage amounted to the equivalent of 2.3 GW of
potential projects.

WindEurope
WindEurope is the voice of the wind industry, active-
ly promoting wind power in Europe and worldwide.
It has over 400 members with headquarters in more
than 35 countries, including the leading wind turbine
manufacturers, component suppliers, research insti-
tutes, national wind energy associations, developers,
contractors, electricity providers, financial institutions,
insurance companies and consultants. This combined
strength makes WindEurope Europe’s largest and most
powerful wind energy network.
Rue d’Arlon 80, 1040 Brussels, Belgium

T +32 2 213 1811 · F +32 2 213 1890
windeurope.org

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WindEurope regularly surveys the industry to determine

TEXT AND ANALYSIS:

1. OFFSHORE WIND INSTALLATIONS ............................................................................ 11

1.1 Overview .......................................................................................................................... 11

2. TRENDS: TURBINE SIZE, WIND FARM LOCATION .............................................. 20

2.1 Wind turbine rated capacity.................................................................................... 20

3. INDUSTRY ACTIVITY AND SUPPLY CHAIN ............................................................. 25

3.1 Wind turbine manufacturers .................................................................................. 25

4.1 Financing activity in 2018 ........................................................................................ 33

Cumulative Installed Capacity (MW)

UK Germany Belgium Denmark Spain Sweden

Cumulative Installed Capacity (MW)

Offshore Wind in Europe - Key trends and statistics 2018 7

Total investments (€bn) New capacity financed (GW)

• 15 wind farms were completed (fully grid- Cumulative installations

8 Offshore Wind in Europe - Key trends and statistics 2018

Offshore Wind in Europe - Key trends and statistics 2018 9

Offshore Wind in Europe - Key trends and statistics 2018 11

Cumulative Installed Capacity (MW)

UK Germany Belgium Denmark Spain Sweden

Cumulative Installed Capacity (MW)

Germany 25 6,380 1,305 969 136

Denmark 14 1,329 514 61 42

Belgium 7 1,186 274 309 8

Netherlands 6 1,118 365 0 1

Sweden 4 192 79 -10 -7

12 Offshore Wind in Europe - Key trends and statistics 2018

1.2 NATIONAL BREAKDOWN OF 2018 INSTALLATIONS

United Kingdom 1,312 MW

0 200 400 600 800 1,000 1,200 1,400

14 Offshore Wind in Europe - Key trends and statistics 2018

ELISA ELICAN Bockstigen (blade upgraded)

Nissum Bredning Floatgen

Horns Rev 3 Eolink 1/10 scale prototype

European Offshore Wind

Offshore Wind in Europe - Key trends and statistics 2018 15

Galloper 277.2 44 Bottom-fixed

Beatrice 2 273 39 Bottom-fixed

Rampion 220.8 64 Bottom-fixed

Race Bank 50.4 8 Bottom-fixed

Kincardine Pilot 2 1 Floating

Borkum Riffgrund II 464.8 56 Bottom-fixed

Germany Arkona 384 60 Bottom-fixed

Merkur Offshore 120 20 Bottom-fixed

Belgium Rentel 308.7 42 Bottom-fixed

Horns Rev 3 33.2 4 Bottom-fixed

Spain ELISA ELICAN 5 1 Bottom-fixed

16 Offshore Wind in Europe - Key trends and statistics 2018

North Sea 1,651 MW

Irish Sea 395 MW

Baltic Sea 387 MW

Atlantic Ocean 229 MW

0 500 1,000 1,500 2,000

Net Installed Capacity in 2018 (MW)

Offshore Wind in Europe - Key trends and statistics 2018 17

1.3 CUMULATIVE INSTALLATIONS

UK 44% 8,183 MW / 1,975 turbines

Germany 34% 6,380 MW / 1,305 turbines

Denmark 7% 1,329 MW / 514 turbines

Belgium 6% 1,186 MW / 274 turbines

Others 2% 303 MW / 110 turbines

98%OF ALL CAPACITY

18 Offshore Wind in Europe - Key trends and statistics 2018

North Sea 12,938 MW

Irish Sea 2,928 MW