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2016 European statistics

Wind in power

windeurope.org

2016 European statisticsPublished in February 2017

Wind in power

TexT and analysis: WindEurope Business IntelligenceAloys Nghiem (Installation highlights)Ariola Mbistrova (Financing highlights)

ediTors:

Iván Pineda, WindEuropePierre Tardieu, WindEurope

design:

Laia Miró, WindEurope

daTa:

Clean Energy Pipeline, Platts PowervisionAll currency conversions made at EUR/GBP 0.8194 and EUR/USD 1.1069Figures include estimates for undisclosed values

PhoTo cover:

Courtesy of Senvion Gmbh

WindeuroPe acknoWledges The kind cooPeraTion of The folloWing associaTions and insTiTuTions:

IG Windkraft (AT) - BOP, EDORA and ODE (BE) - BGWEA (BG) - RP Global Projekti (HR) - K. Ellinas Energy (CY) - CSVE (CZ) - DWIA (DK) - Tuulenergia (EE) - SEV (FO) - Suomen Tuulivoimayhdistys ry (FI) - France Énergie Éolienne and Syndicat des Énergies Renouvelables (FR) - BWE, VDMA and Stiftung Offshore Windenergie (DE) - HWEA (EL) - HWIA (HU) - IWEA (IE) - Landsvirkjun (IS) - ANEV and assoRinnovabili (IT) - LWEA (LV) - LWPA (LT) - Energy Institute Hrvoje Pozar (HR) - Ministry of Sustainable Development and Infrastructures (LU) - NWEA (NL) - PWEA (PL) - APREN (PT) - NorWEA (NO) - RWEA (RO) - Continental Wind Partners (SRB) - Slovak Renewable Energy Agency (SK) - RAWI (RS) - Svenskvindenergi (SE) - AEE (ES) - Suisse Eole (CH) - TÜREB (TK) - UWEA (UA) - RenewableUK (UK) - SolarPower Europe - Ocean Energy Europe - European Solar Thermal Electricity Association.

More inforMaTion:

[email protected]+32 2 213 18 38

This report summarises new installations and financing activity in Europe’s wind farms from 1 January to 31 December 2016.

WindEurope regularly surveys the industry to determine the level of installations of wind farms, and the subsequent dispatch of first power to the grid. The data represents gross installations per site and country unless otherwise stated. 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.

CO

NTE

NTS

execuTive suMMary .................................................................................................... 6

1 annual MarkeT in 2016 ....................................................................................... 10

1.1 Wind power installations ..................................................................................... 10

1.2 Power capacity installations ............................................................................. 11

1.3 Renewable power installations ........................................................................ 12

2 Trends and cuMulaTive insTallaTions .................................................. 13

2.1 Renewable power installations ........................................................................ 13

2.2 Net changes in EU installed power capacity 2000-2016 ........................ 14

2.3 Total installed power capacity ......................................................................... 15

3 a closer look aT Wind PoWer insTallaTions .................................... 16

3.1 Onshore and offshore annual markets ........................................................... 16

3.2 National breakdown of wind power installations ....................................... 17

3.3 Cumulative wind power installations .............................................................. 19

3.4 Wind power penetration .................................................................................... 20

3.5 Onshore wind turbines ....................................................................................... 22

4 invesTMenTs nuMbers in 2016 ....................................................................... 23

6 Wind in power – 2016 European statisticsWindEurope

0

50

100

150

200

250

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

GW

Large HydroWindNuclear

Natural GasSolar PV

CoalFuel Oil

ExECuTivE SummaryEurope installed 12.5 GW of gross additional wind capacity in 2016. This was 3% less than the new installations in 2015. With a total installed capacity of 153.7 GW, wind energy now overtakes coal as the second largest form of power gener-ation capacity in Europe.

Figure 1

Cumulative power capacity in the European Union 2005-2016

Source: WindEurope

2007: Wind overtakes fuel oil as the 5th largest form of power generation capacity.

2016: Wind overtakes coal as the 2nd largest form of power generation capacity.

2013: Wind overtakes nuclear as the 4th largest form of power generation capacity.

2015: Wind overtakes hydro as the 3rd largest form of power generation capacity.

7Wind in power – 2016 European statisticsWindEurope

Executive Summary

2016 annual figures

• 12.5 GW of new wind power capacity was installed and grid-connected in the EU during 2016, a decrease of 3% compared to 2015 annual installations. 10,923 MW were installed onshore, and 1,567 MW were installed offshore.

• Wind power installed more than any other form of power generation in Europe in 2016.Wind power accounted for 51% of total power capacity installations.

• Renewable energy accounted for 86% of all new EU power installations in 2016: 21.1 GW of a total 24.5 GW of new power capacity.

• With almost 300 TWh generated in 2016, wind power covered 10.4 % of the EU’s electricity demand.

• €27.5 billion were invested in 2016 to finance wind energy development. This was 5% more than the total investment in 2015.

Trends and cumulative installations

• There are now 153.7 GW of installed wind power capacity in the EU: 141.1 GW onshore and 12.6 GW offshore.

• Wind energy has overtaken coal as the second largest form of power generation capacity.

• Wind energy now accounts for 17% of Europe’s total installed power generation capacity.

• The total net EU installed power generation capacity increased by 12 GW in 2016 to 918.8 GW.

• Conventional power sources such as fuel oil and coal continue to decommission more capacity than they install. Despite having decommissioned more than 2 GW this year net gas-fired generation capacity continues to remain positive.

Country highlights

• Germany was the largest market in new wind power capacity installations, with 44% of the total EU installations.

• Germany remains the EU country with the largest installed wind power capacity, followed by Spain, the UK and France. 16 EU Member States have more than 1 GW wind power installed, nine of these have more than 5 GW installed.

• Five EU Member States had a record year in new wind energy installations in 2016: France (1.6 GW), the Netherlands (887 MW), Finland (570 MW), Ireland (384 MW) and Lithuania (178 MW).

• Turkey (1.4 GW) also broke its record for annual new installations.


Executive Summary

wind EnErgy caPacity in 2016

FigUrE 2installed wind capacity in 2016

Source: WindEurope analysis on Pöyry data.Capacity values are rounded.

228

177

220

7

570

1,561

5,443

239

384

282

178

2

887

268

682

5234

49

493

736

Wind capacity installed in 2016 (MW)TOTAL 12.5 gW

Cumulative wind installed capacity by country

40 - 50 GW

30 - 40 GW

20 - 30 GW

10 - 20 GW

5 - 10 GW

1 - 5 GW

0 - 1 GW

EU-28 (MW) installed 2015

end 2015

installed 2016

end 2016

Austria 319 2,404 228 2,632

Belgium 266 2,218 177 2,386

Bulgaria - 691 - 691

Croatia 45 387 34 422

Cyprus 11 158 - 158

Czech republic - 281 - 281

Denmark 234 5,063 220 5,227

Estonia 1 303 7 310

Finland 379 1,011 570 1,539

France 1,073 10,505 1,561 12,065

germany 6,008 44,946 5,443 50,019

greece 156 2,135 239 2,374

Hungary - 329 - 329

ireland 224 2,446 384 2,830

italy 306 8,975 282 9,257

Latvia - 62 2 63

Lithuania 27 315 178 493

Luxembourg - 58 - 58

Malta - - - -

Netherlands 621 3,443 887 4,328

Poland 1,266 5,100 682 5,782

Portugal 120 5,050 268 5,316

romania 23 2,976 52 3,028

Slovakia - 3 - 3

Slovenia - 3 - 3

Spain - 23,025 49 23,075

Sweden 615 6,029 493 6,519

uK 1,149 13,809 736 14,542

TOTAL EU-28 12,842 141,726 12,490 153,730

Candidate Countries

(MW)

installed 2015

end 2015

installed 2016

end 2016

FYrOM - 37 - 37

Serbia 10 10 - 10

Turkey 956 4,694 1,387 6,081

total 966 4,741 1,387 6,128

EFTA (MW) installed 2015

end 2015

installed 2016

end 2016

iceland - 3 - 3

Liechtenstein - - - -

Norway 7 822 16 838

Switzerland - 60 20 75

total 7 882 36 913

OTHEr (MW) installed 2015

end 2015

installed 2016

end 2016

Belarus - 3 - 3

Faroe islands - 18 - 18

russia - 15 - 15

Ukraine 17 514 12 526

total 17 548 12 559

installed 2015

end 2015

installed 2016

end 2016

total europe 13,831 147,852 13,925 161,330

table 1Cumulative and new wind power capacity in 2015 and 2016

Source: WindEurope


1.aNNuaL marKET iN 20161.1 WIND POWER INSTALLATIONS During 2016 13.9 GW of wind power were installed across Europe, 12.5 GW of which were installed in the European Union.

FigUrE 3EU market shares for new wind energy capacity installed during 2016. Total 12,490 MW

Netherlands887 MW7.1%

MW5

UK736

.9%

Poland682 MW5.5%

Finland570 MW4.6%

Sweden493 MW3.9%

Ireland384 MW3.1%

Italy282 MW2.3%

Portugal268 MW2.1%

Greece239 MW1.9%

Austria228 MW1.8%

Denmark220 MW1.8%

Lithuania178 MW1.4%

Belgium177 MW1.4%

Romania52 MW0.4%

Spain49 MW0.4%

Croatia34 MW0.3%

Estonia7 MW0.1%

Latvia2 MW0.0%

Germany5,443 MW43.6%

France1,561 MW12.5%

Source: WindEurope


Biomass1,064 MW4.3%

Large Hydro657 MW2.7%

Coal243 MW1.0%

Waste154 MW0.6%

Nuclear28 MW0.1%

Small Hydro14 MW0.1%

Ocean13 MW0.1%

Geothermal6 MW0.0%

Wind12,490 MW51.0%

Solar PV6,700 MW27.4%

Natural Gas3,115 MW12.7%

1. Based on estimation from Q1-Q3 2016 installation figures.

Of the capacity installed in the EU, 10,923 MW was onshore and 1,567 MW offshore. The annual onshore installations increased by 11%, and offshore installations were down almost 50%. Overall, EU wind energy annual installations decreased by 3% compared to 2015 installations.

Germany was the largest market in 2016 in terms of annual installations, with 5,443 MW of new capacity, 818 MW of which was offshore (15% of total capacity installed in Germany). France came second with a record year of 1,560 MW installations, an increase of 45% on 2015. The Netherlands came third with record installations of 887 MW.

Four other countries had a record year in installations: Turkey (1,394 MW), Finland (570 MW), Ireland (384 MW)and Lithuania (178 MW).

75% of the total installations took place in just five markets, a similar trend as in 2015.

Annual Market In 2016

Source: WindEurope

5 Eu mEmBEr STaTES HAD A RECORD YEAR IN WIND ENERGY INSTALLATIONS

51% OF NEW POWER CAPACITY

iN THE Eu CamE FrOm WiND

1.2 POWER CAPACITY INSTALLATIONS

FigUrE 4Share of new installed capacity. Total 24,484 MW

In 2016 24.5 GW of new gross power generation capacity were installed in the EU, 6.3 GW less than in 2015.

Wind power was the energy technology with the highest capacity installations in 2016. With 12.5 GW, it accounted for 51% of all new installations. Solar PV came second with 6.7 GW (27%) and natural gas followed with 3.1 GW (13%).

Biomass installed 1.1 GW (4% of total installations), hydro 657 MW (3%), coal 243 MW (1%), and waste 154 MW (0.6%). During 2016 Member States decommissioned 7.5 GW of coal capacity, 2.3 GW of natural gas capacity, and 2.2 GW of fuel oil capacity.


12,490

6,700

1,0643,115

657 154 0 0 0 243

(-486)(- 2,197)(-2,256)

(-7,510)-10,000

-5,000

0

5,000

10,000

15,000

MW

New capacity installed Capacity decommissioned

Large H

ydro

Peat

Wast

e

Natura

l Gas

Solar PV

Biomass

CoalCSP

Fuel Oil

Wind

1.3 RENEWABLE POWER INSTALLATIONS

In 2016 renewables accounted for a total of 21.1 GW of new capacity, 86% of all new installed capacity in the EU-28. It was, furthermore, the ninth year in a row where renewables contributed over 55% of all additional power capacity in the EU.

FigUrE 6Share of new renewable power installations. Total 21,098 MW

FigUrE 5Newly installed and decommissioned capacity in the EU

Annual Market In 2016

Source: WindEurope

Source: WindEurope

86% OF NEW POWER CAPACITY

iN THE Eu CamE FrOm rENEWaBLES iN 2016

Biomass1,064 MW5.0%

Large Hydro657 MW3.1%

Waste154 MW0.7%

Small Hydro14 MW0.1% Geothermal

6 MW0.0%

Wind12,490 MW59.2%

Solar PV6,700 MW31.8%


2.TrENDS aND CumuLaTivE iNSTaLLaTiONS

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0

10,000

20,000

30,000

40,000

50,000

60,000

MW

Coal

Biomass

Waste

Wind

Nuclear

Other

Geothermal

Solar PV

Fuel Oil

Peat

Other Gas

Natural Gas

Large Hydro

Small Hydro

Res Share

2.1 RENEWABLE POWER INSTALLATIONSIn 2000 new renewable power capacity installations totalled a mere 2.7 GW, accounting for less than 20% of new power installations that year. Since 2010, Europe added between 21 GW and 35 GW of new renewable capacity every year.

The share of renewables in total new power capacity additions reached the 50% threshold in 2007. Since then it continued to grow and peaked at 86% in 2016.

466 GW of new power capacity has been installed in the EU since 2000. 31% of it has been wind power and 59% renewables.

FigUrE 7Annual installed capacity and renewable share

Source: WindEurope


142.6

101.293.5

9.6 7.92.7 2.3 0.5 0.4 0.3 0.1 0.0

(-15.5)

(-37.3) (-37.6)-40.0

-20.0

0.0

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

GW

Large H

ydro

Small H

ydro

Geotherm

alPeat

Ocean

Nuclear

Wast

e

Natura

l Gas

Solar PV

Biomass

CoalCSP

Other G

as

Fuel Oil

Wind

2.2 NET CHANGES IN EU INSTALLED POWER CAPACITY 2000-2016Since 2000, the net growth of wind power (142.6 GW), solar PV (101.2 GW) and natural gas (98.5 GW) capacity has coincided with the net reduction in fuel oil (down 37.6 GW), coal (down 37.3 GW) and nuclear (down 15.5 GW).

The EU’s power sector continues to move away from fuel oil, coal, and nuclear while increasing its total installed generation capacity with wind, solar PV and other renewables. With a net growth of 93.5 GW since 2000, natural gas remains the technology with largest installed capacity in the EU.

FigUrE 8Net electricity installations in the EU from 2000 to 2016


Source: WindEurope


Wind41 GW6.0% Solar PV

2 GW0.3%

Biomass7 GW1.0%

Other18 GW2.6%

Natural Gas138 GW20.5%

Coal167 GW24.8%

Nuclear131 GW19.4%

Fuel Oil52 GW7.7%

Wind154 GW16.7%

Solar PV101 GW11.0%

Natural Gas186 GW20.3%Coal

152 GW16.5%

Nuclear120 GW13.1%

Fuel Oil31 GW3.4% Large Hydro

136 GW14.8%

Biomass14 GW1.5%

Other24 GW2.6%

2005 2016

Large Hydro120 GW17.7%


Source: WindEurope

WIND IS NOW THE

2nd LarGEST POWEr

GENEraTiNG CaPaCiTy iN THE Eu

2.3 TOTAL INSTALLED POWER CAPACITY

The share of wind power in total installed power capacity has increased from 6% in 2005 to 16.7% in 2016, overtaking coal as the second largest form of power generation capacity in the EU and remaining the first among renewables. Over the same period renewables increased their share from 24% of total power capacity in 2005 to 46% in 2016.

FigUrE 9Share in installed capacity in 2005 and 2016


6.5 7.18.6 8.1

9.7 9.0 8.910.9 10.0 10.5 9.8 10.9

0.10.1

0.30.3

0.6 0.9 0.8

1.2 1.6 1.53.0

1.6

0

2

4

6

8

10

12

14

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

GW

Onshore OffshoreSource: WindEurope

3.a CLOSEr LOOK aT WiND POWEr iNSTaLLaTiONS3.1 ONSHORE AND OFFSHORE ANNUAL MARKETS

Annual wind power installations in the EU have increased steadily over the past 16 years from 2.3 GW in 2000 to 12.5 GW in 2016, with a maximum level in 2015 of 12.8 GW.

Offshore wind represented 13% of the annual EU wind energy market with 1,567 MW of new gross capacity connected to the grid in 2016. This is a 48.4% decrease compared with 2015, which was an exceptional year in grid-connections due to grid-connection delays in Germany being resolved.

FigUrE 10Annual onshore and offshore wind installations in the EU


A closer look at wind power installations

3.2 NATIONAL BREAKDOWN OF WIND POWER INSTALLATIONS

In 2016 44% of the total EU wind capacity was installed just in Germany. France and Benelux had 21% of the installed capacity, up from 15% in 2015. The wind installations in the countries that joined the EU after 2005 represent less than 10% of EU’s total.

Figure 11geographical concentration of the annual wind market2

Source: WindEurope

With over three times more newly installed capacity than any other EU country, Germany (5.4 GW) remains the largest wind energy market in Europe. France and Finland benefitted from supportive regulatory frameworks and increased their annual installations to their best result ever with 1,560 MW and 570 MW respectively. The boom in installed capacity observed in the Netherlands (887 MW) is largely due to offshore wind with the completion of Gemini (600 MW), the second largest offshore wind project ever built.

2. Central Eastern Europe includes Poland, Czech Republic, Hungary, Romania, Lithuania, Latvia, Estonia, Croatia, Bulgaria, Slovenia, Cyprus, Malta and Slovakia.

44% OF EU’S WIND POWER

WaS iNSTaLLED iN GErmaNy

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Germany Iberian Peninsula, Italy & Greece France & Benelux

Nordics & Austria UK & Ireland Central and Eastern Europe


0

1,000

2,000

3,000

4,000

5,000

6,000

MW

Onshore Offshore

5,443

FigUrE 12EU Member State 2016 installed wind capacity onshore and offshore. Total: 12,490 MW


Source: WindEurope

3. The ratio Installed capacity/average power consumption is an indicator that reflects the size of national wind energy markets relative to their electricity demand. It is a performance indicator to compare annual installations between distinct countries.

LiTHuaNia IS THE EU MEMBER STATE WITH MOST 2016 INSTALLATIONS RELATIVE TO ITS POWER CONSUMPTION

With new installed wind capacity of 178 MW in 2016, and an average power consumption of 1.1 GW, Lithuania is the Member State with the highest level of installed wind capacity relative to its power consumption (ratio of 16%3). Ireland (13%), and Germany (10%) follow with notable ratios too.

TABLE 2Top 10 EU Member States wind markets relative to their power consumption(ratio installed capacity in 2016/average 2016 power consumption)

ranKing Country ratio

9 Poland 3.6%

10 Sweden 3.2%

ranKing Country ratio

1 Lithuania 15.7%

2 Ireland 12.8%

3 Germany 10.0%

4 Netherlands 7.1%

5 Finland 6.2%

6 Denmark 6.0%

7 Portugal 4.8%

8 Greece 4.1%



FigUrE 13Cumulative installations onshore and offshore in the EU. Total 153.7 gW

Germany (50 GW) and Spain (23.1 GW) have the largest cumulative installed wind energy capacity in Europe. Together they represent 48% of total EU capacity. The UK, France and Italy follow with 14.5 GW (9.5% of total EU capacity), 12.1 GW (7.8%) and 9.3 GW (6.0%) respectively.

Source: WindEurope

3.3 CUMULATIVE WIND POWER INSTALLATIONS

153.7 GW are now installed in the European Union with growth of 8% in 2016. Germany remains the EU Member State with the largest installed capacity, followed by Spain, the UK, France and Italy. Four other EU countries (Sweden, Denmark, Poland and Portugal) have more than 5 GW installed. Seven additional EU countries have over 1 GW of installed capacity: Austria, Belgium, Finland, Greece, Ireland, the Netherlands and Romania.

153.7 GWOF WiND POWEr arE NOW iNSTaLLED iN THE Eu

40 47 56 6473 82 91

101111

121131

141

0.70.8

1.11.5

2.13.0

3.85.0

6.68.1

11

13

0

20

40

60

80

100

120

140

160

180

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

GW

Onshore Offshore


50.0

23.1

14.512.1

9.3

6.5 5.8 5.3 5.2 4.3 3.0 2.8 2.6 2.4 2.4 1.5 0.7 0.5 0.4 0.3 0.3 0.3 0.2 0.1 0.10

10

20

30

40

50

GW

Onshore Offshore

3.4 WIND POWER PENETRATION

In 2016 wind energy generated enough electricity to meet 10.4% of the EU-28 total electricity demand.

TABLE 3Electricity production from wind power (TWh)

total eu eleCtriCity

CONSUMPTiON (TWH)

onshore WiND ENErgY produCtion

(TWH)

oFFshore WiND ENErgY produCtion

(TWH)

WiND ENErgY produCtion

(TWH)

share oF eu CONSUMPTiON MET BY WiND

energy

2,860 259 37 296 10.4%

Denmark was the EU Member State with the highest penetration rate (37%), followed by Ireland (27%) and Portugal (25%). 11 out of the 28 Member States had a wind penetration rate of more than 10%.


Source: WindEurope

Source: WindEurope

FigUrE 14Cumulative installations onshore and offshore in the EU. Total 153.7 gW



4. The figures represent the average of the penetration rates captured hourly from ENTSO-E and corrected thanks to national TSOs and BEIS data. All European countries data is not available.

Source: WindEurope

FigUrE 15Wind penetration rates in European countries4

0.5%

0.8%

1.6%

1.6%

3.8%

4.0%

4.4%

5.5%

5.8%

7.1%

7.3%

7.4%

8.4%

10.4%

10.6%

11.4%

12.4%

12.5%

16.0%

19.0%

19.7%

24.7%

27.0%

36.8%

0% 5% 10% 15% 20% 25% 30% 35% 40%

Norway

Czech Republic

Latvia

Hungary

Finland

Bulgaria

France

Italy

Belgium

Poland

Estonia

Greece

Netherlands

Austria

Lithuania

Sweden

United Kingdom

Romania

Germany

Spain

Cyprus

Portugal

Ireland

Denmark


3.3

3.13.0

2.9 2.9 2.92.8

2.52.5

2.42.4

2.3

2.1 2.12.0

1.9

1.5

2.0

2.5

3.0

3.5

MW

/tu

rbin

e


3.5 ONSHORE WIND TURBINES

The size and type of wind turbines installed in the EU in 2016 varied significantly between different Member States. The wind turbines in Sweden and Finland had an average power rating of more than 3.1 MW. By contrast, the turbines installed the UK and Spain had an average rating of less than 2 MW.

The differences in wind turbines ratings observed in the different Member States is due to three main factors:• Regulatory restrictions on tip height• Duration of projects• Wind regimes (low speed or high speed)

FigUrE 16Average 2016 turbine ratings in EU Member States

Source: WindEurope


5. Figures include only new asset financing. Project refinancing and public markets are not included in the investment activity.

4.iNvESTmENT NumBErS iN 2016FigUrE 17New asset finance in wind energy 2010 – 20165

Source: WindEurope

Europe invested a total of €27.5bn in wind energy, a 5% increase from 2015. This is largely due to investments in offshore wind, which increased by 39% on 2015. Onshore wind investments dropped to €9.3bn, their first decrease in the last five years. In total, there were 10.3 GW of new wind capacity financed in 2016.

15 EU MEMBER STATES aNNOuNCED NO NEW WiND ENErGy iNvESTmENTS iN 2016

Offshore Wind Onshore Wind

16.4

12.7 11.7

14.5

21.1

26.2 27.5

0

5

10

15

20

25

2010 2011 2012 2013 2014 2015 2016

bn

EU

R


Investment numbers in 2016

6. Figures include only new asset financing. Residential ownership is not included in new investment numbers.

Source: WindEurope

Source: WindEurope

FigUrE 18New asset financing in 2016 by country (mEUr)

For the second consecutive year, the United Kingdom was the biggest investor in wind energy. The country generated a total financing activity of €12.7bn for the construction of new onshore and offshore wind farms. This accounts for 46% of the total wind energy investments made in 2016.

FigUrE 19Clean energy investments in 2016 (mEUr)6

Wind energy investments accounted for 86% of the new clean energy finance in 2016, compared to 67% in 2015. Offshore wind projects alone were responsible for more than half of the investment activity in the renewable energy sector.

46% OF INVESTMENTS

aNNOuNCED iN 2016 WErE iN THE uNiTED KiNGDOm

458

538

656

679

891

1,073

1,083

1,773

2,300

5,328

12,684

0 5,000 10,000 15,000

Others

Italy

Finland

Sweden

Ireland

France

Denmark

Norway

Belgium

Germany

UK

mEUR

Offshore Wind€18,202mOnshore

Wind€9,261m

Solar PV€1,583m

Biomass CHP€1,440m

Biomass€1,347m

Other renewables€380m

offshorewind2017.com

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WindEurope is the voice of the wind industry, actively promoting wind power in Europe and worldwide. It has over 450 members with headquarters in more than 40 countries, including the leading wind turbine manufac-turers, component suppliers, research institutes, national wind energy associations, developers, contrac-tors, electricity providers, financial institutions, insur-ance companies and consultants. This combined strength makes WindEurope Europe’s largest and most powerful wind energy network.

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