Despite COVID constraints, Europe confirmed a record amount of €26.3 billion ($31.71 billion) of investments in new offshore wind farms in 2020. This will finance 7.1 gigawatts (GW) of new offshore wind, which will be built in the coming years. Last year, Europe built 2.9 GW of new offshore wind. Europe now has 25 GW of offshore wind capacity. The European Union aims to have 300 GW by 2050.
According to the latest WindEurope data, Europe raised €26.3 billion ($31.71 billion) to finance 7.1 GW of new offshore wind capacity in 2020. The U.K., Netherlands, Germany and France all saw final investment decisions for major new offshore wind farms.
“€26 billion [$31 billion] in new investments in 2020 is a huge vote of confidence in offshore wind. Investors see that offshore wind is cheap, reliable, and resilient — and that governments want more of it. And these investments will create jobs and growth. Every new offshore wind turbine generates €15 million [$18 mi
