Study predicts spending surge for offshore wind energy

07/25/2005
Offshore wind energy installations, mainly off Europe, will attract $13.6 billion in investment during the next 5 years, predicted analysts Douglas-Westwood Ltd. in a market study published in mid-July.The report says the offshore wind energy industry is set for strong, government-backed growth. It forecasts installations totaling 7,700 Mw-about the energy equivalent of seven nuclear power stations.“Present proposals call for 2,333 turbines to be installed, a massive challenge for the installation contractors,” said report author Adam Westwood, who said expenditures will rise rapidly to more than $4 billion/year by 2009.“Although onshore projects currently are cheaper, t...
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