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

Trendingnow

1

Current price of oil as of June 15, 2026

2

Current price of silver as of Monday, June 15, 2026

3

Meet Gwynne Shotwell, the engineer-turned-COO who runs SpaceX in platform heels and is now worth over $2 billion

1

Current price of oil as of June 15, 2026

2

Current price of silver as of Monday, June 15, 2026

3

Meet Gwynne Shotwell, the engineer-turned-COO who runs SpaceX in platform heels and is now worth over $2 billion
wind power

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
  • Pinterest icon

Latest in

Best Workplaces in Chicago
Best Large Workplaces in Chicago
By FortuneJune 16, 2026
50 minutes ago
cj
CommentaryIBM
IBM’s $17 million DOJ settlement makes the case for civility
By Carolynn JohnsonJune 16, 2026
50 minutes ago
In a year of constant change, employee listening keeps Synchrony and AbbVie No. 1 on Fortune’s Best Workplaces lists
Workplace CultureBest Workplaces
In a year of constant change, employee listening keeps Synchrony and AbbVie No. 1 on Fortune’s Best Workplaces lists
By Roula AmireJune 16, 2026
50 minutes ago
Best Workplaces in Chicago
Best Small and Medium Workplaces in Chicago
By FortuneJune 16, 2026
50 minutes ago
U.S. President Donald Trump speaks with reporters while aboard Air Force One en route to Chippewa Falls, Wisconsin on June 5, 2026.
Economynational debt
Tariffs are only generating 25% of the revenue needed to pay interest on national debt—despite pitch that it would be a silver bullet
By Eleanor PringleJune 16, 2026
1 hour ago
U.S. cybersecurity leaders to White House: Lift the ban on Anthropic’s Mythos and Fable AI models
NewslettersFortune Tech
U.S. cybersecurity leaders to White House: Lift the ban on Anthropic’s Mythos and Fable AI models
By Andrew NuscaJune 16, 2026
1 hour ago

Most Popular

Current price of oil as of June 15, 2026
Personal Finance
Current price of oil as of June 15, 2026
By Joseph HostetlerJune 15, 2026
23 hours ago
Current price of silver as of Monday, June 15, 2026
Personal Finance
Current price of silver as of Monday, June 15, 2026
By Joseph HostetlerJune 15, 2026
23 hours ago
Meet Gwynne Shotwell, the engineer-turned-COO who runs SpaceX in platform heels and is now worth over $2 billion
Startups & Venture
Meet Gwynne Shotwell, the engineer-turned-COO who runs SpaceX in platform heels and is now worth over $2 billion
By Eva RoytburgJune 15, 2026
1 day ago
Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
Economy
Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
By Nick LichtenbergJune 14, 2026
2 days ago
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
Big Tech
Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
By Tristan BoveJune 15, 2026
19 hours ago
Trump gets the peace deal he wants and rages against Israel’s Netanyahu: ‘He has no f—ing judgement. I let him know that'
Economy
Trump gets the peace deal he wants and rages against Israel’s Netanyahu: ‘He has no f—ing judgement. I let him know that'
By Jim EdwardsJune 15, 2026
1 day 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.