• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

2

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

3

Current price of oil as of July 24, 2026

1

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

2

Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for

3

Current price of oil as of July 24, 2026
wind power
Europe

Europe’s Wind Power Industry Is Blowing Up Offshore

By
David Meyer
David Meyer
Down Arrow Button Icon
By
David Meyer
David Meyer
Down Arrow Button Icon
February 6, 2018, 7:46 AM ET
Add Fortune on Google for similar content.

Europe’s offshore wind industry is booming, with a 25% boost in capacity during 2017.

Industry body WindEurope released statistics Tuesday that showed 3.1 gigawatts of capacity came online last year, thanks to the installation of 13 new offshore wind farms. One of those, Hywind Scotland, is the world’s first floating offshore wind farm.

Most of the installations took place in the U.K. and Germany, with Belgium, Finland and France some way behind those two. According to WindEurope, 4,149 turbines operating across 11 countries now provide a total 15.78 gigawatts of capacity.

WindEurope said it expected Europe’s total offshore wind capacity to reach 25 gigawatts by 2020.

The highest monthly “capacity factor” for 2017—representing the actual power generated by wind farms, as a percentage of their maximum capacity—was Germany’s 67.9% in February. German wind farms famously produced so much electricity on one stormy October weekend that producers were forced to pay consumers to take the extra electricity off the network.

The new turbines are bigger than their predecessors too, with the 2017 average for one turbine being 5.9 megawatts, or 23% up on the turbines being installed in 2016.

“Offshore wind is now a mainstream part of the power system. And the costs have fallen rapidly. Investing in offshore wind today costs no more than in conventional power generation,” WindEurope CEO Giles Dickson said in a statement.

Read: Google Just Bought Enough Wind Power to Offset 100% of Its Energy Use

The EU’s current 2030 target is to have renewables providing at least 27% of energy consumption, but Dickson said the growth in capacity showed that 35% would be “easily achievable.”

However, the organization did also warn that the long-term outlook for offshore wind was unclear as most EU countries still haven’t decided how much capacity they want to install by 2030.

As for which equipment manufacturers are reaping the benefits of the wind boom, WindEurope said Siemens Gamesa Renewable Energy accounted for 51.3% of the new capacity. MHI Vestas Offshore Wind came in second with 24.7%, followed by Senvion and Adwen.

Newer turbines are bigger than their predecessors, with the 2017 average for one turbine being 5.9 megawatts, or 23% up on the turbines being installed in 2016.

About the Author
By David Meyer
LinkedIn icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

A man stands looking out over his front porch where a sign reads, "No data centers."
EnvironmentData centers
Startups are installing tiny data centers in people’s homes to reduce strain on the beleaguered electrical grid
By Sasha RogelbergJuly 25, 2026
40 seconds ago
Fortune Brainstorm E 2016
Success250 Years of Innovation
Bechtel CEO: to build America’s future, we must first build the builders
By Brendan BechtelJuly 25, 2026
39 minutes ago
Roderick Wong, MD is Managing Partner and Chief Investment Officer of RTW Investments
Commentary250 Years of Innovation
When 10,000 doctors stood up and cheered for a cancer drug — America’s innovation machine made it possible
By Roderick WongJuly 25, 2026
2 hours ago
family
Real EstateHousing
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going ‘back to the early 1900s’
By Nick LichtenbergJuly 25, 2026
2 hours ago
t
CommentaryCommunity
Ronald Reagan center director: How to talk politics with family, friends and neighbors, without losing them
By Frederick J. Ryan, Jr.July 25, 2026
2 hours ago
m
Commentarydisruption
The Messi Test and how the Spaniards messed with it: what the World Cup final taught me about the Jobs AI can’t touch
By Bhaskar ChakravortiJuly 25, 2026
2 hours ago

Most Popular

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
1 day ago
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
2 days ago
Current price of oil as of July 24, 2026
Personal Finance
Current price of oil as of July 24, 2026
By Joseph HostetlerJuly 24, 2026
1 day ago
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
Economy
The $39 trillion U.S. national debt isn’t as high as Japan’s and Singapore’s relative to economy size—and yet it's still worse somehow
By Sasha RogelbergJuly 23, 2026
2 days ago
Current price of silver as of Friday, July 24, 2025
Personal Finance
Current price of silver as of Friday, July 24, 2025
By Joseph HostetlerJuly 24, 2026
1 day ago
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
3 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.