- WindEurope reports record growth in EU wind energy sector in 2023.
- Investments surge to 30 billion euros in offshore wind projects alone.
WindEurope’s latest report reveals remarkable progress in the European wind energy sector in 2023. Investors surged 30 billion euros into offshore wind projects alone, overcoming challenges like inflation and volatile markets.
New wind farm installations hit a record 16.2 gigawatts, mainly onshore. European Union (EU) policies played a vital role in streamlining permits and facilitating financing.
Germany and Spain notably increased onshore wind permits. Despite challenges, Danish turbine manufacturer Vestas returned to profitability in 2023’s fourth quarter.
WindEurope forecasts an average installation of 29 gigawatts per year until 2030. Their goal is to reach a total wind energy capacity of 393 gigawatts by then. However, concerns persist about insufficient grid upgrades to accommodate renewable energy growth.