Offshore wind industry can expect to install a record capacity of 4.2 GW in 2015, according to Bloomberg New Energy Finance report.
These predictions follow last year’s delays which prolonged some project completions for this year. Last year saw just 868MW constructed, 1GW less than expected.
Germany is expected to install more than 2.3 GW after a delay in the installation of HVDC converter platforms, followed by UK with 1 GW.
“We expect the global offshore wind market to reach 48GW by 2020, growing at a 53% compound annual growth rate over 2014-20,” the report says.