The forward march of the renewable energy industry continued through the first half of 2020, defying even the enormous turbulence from the coronavirus crisis, according to the latest BNEF figures showing that global investment in renewables capacity rose by five per cent during the first six months of the year. The remarkable performance was powered by the offshore wind sector, with investment totalling $35bn – up 319 per cent on the same period last year to outstrip 2019’s record full-year figure. Offshore wind’s growth stemmed from a string of massive deals through the first half of the year, encompassing 28 separate offshore wind projects around the world. Among them was the biggest offshore wind project to date, the 5GW Vattenfall Hollandse Zuid array off the coast of the Netherlands, which is set to result in an estimated $3.9bn investment. Other major offshore deals included the 1.1GW Seagreen project in UK waters, estimated at $3.9bn, and the 600MW CIP Changfang Xidao array off Taiwan, estimated at $3.6bn. The single biggest contributor of new projects was China, with financing determined for 17 Chinese installations, most notably the 600MW Guangdong Yudean Yangjiang Yangxi Shapaat array, worth £1.8bn.
Business Green 14th July 2020 read more »
Global offshore wind investment more than quadrupled in the first half of the year even as the coronavirus pandemic triggered an unprecedented economic shock. A report has found that investors gave the greenlight to 28 new offshore windfarms worth a total of $35bn (£28bn) this year, four times more than in the first half of 2019 and well above the total for last year as a whole. The biggest half-year tally for offshore wind investment more than made up for a slowdown in investment for onshore wind and solar farm projects after the outbreak of Covid-19, according to the report by Bloomberg NEF (BNEF).
Guardian 13th July 2020 read more »
Energy Voice 14th July 2020 read more »