Understanding wind farm development costs | Business Norway
The annual cost of operating a 1 GW offshore wind farm can range anywhere from roughly EUR 94 million to EUR 296 million. This covers operation, maintenance, insurance
As of 2023, Europe had a total installed wind capacity of 255 gigawatts (GW). In 2017, a total of 15,680 MW of wind power was installed, representing 55% of all new power capacity, and the wind power generated 336 TWh of electricity, enough to supply 11.6% of the EU's electricity consumption.
The total cost per kW of installed wind power capacity differs significantly between countries, as shown in Figure 1.1. The cost per kW typically varies from around €1,000/kW to €1,350/kW. As shown in Figure 1.1, the investment costs per kW were found to be lowest in Denmark, and slightly higher in Greece and the Netherlands.
The cost of an installed megawatt largely depends on the scale of the investment project. Today, the average cost of building a wind farm in Europe is about 1 thousand euros per 1 kW of installed capacity for large projects.
European Wind Power Market is segmented by onshore and offshore. The report also covers the market size and forecasts for the Europe Wind Power Market across the major countries. For each segment, the market size and forecasts have been done based on installed capacity in gigawatts (GW). Need A Different Region or Segment?
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