Power & Energy

EU Added 16GW Of Wind Energy In The Year 2017

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In 2017, about 15.7GW of wind energy capacity was added by the European Union, as per the onshore and offshore wind statistics. Upon extracting the annual figures form WindEurope, The trading body, it has been estimated that the offshore and the onshore capacity both increased by about 3.1GW and 12.5GW respectively. On the other hand, installations of new wind farm were about twenty percent more than that of 2016.

Talking of making new investments in the wind farms in future, projects together coming to 11.5GW reached the final investment verdict. In 2016, the total value of all these investments was $27.53billion i.e. 22.3billion Euros which was about nineteen percent less. WindEurope said that this was due to cost reductions in the supply chain of wind energy and growing competition in the auctions that gave the investors more opportunity for less cash.

Gileds Dickson, the CEO of WindEurope said that year 2017 was a great year for the market of wind energy. He also added that twelve percent of the total electric supply in Europe was granted by wind energy.

"It's further evident that wind is mainstream and delivers bang for your buck. It's cheap, increasingly stable, and industrial consumers are now turning to it as an energy source of choice”, said Dickson. 

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