‘$20bn for European offshore substations’
- Admin
- Jun 18, 2024
- 1 min read
Around 137 substations will be installed offshore continental Europe this decade, requiring $20bn in total investment. Over 120 of these facilities will be installed between 2024 and 2030 at a cost of around $18bn. The surge in substation developments is being fueled by the increased scale of offshore wind projects and their distance from shore. Annual spending on offshore substations will increase steadily through 2030. Offshore substations are particularly beneficial for projects over 200MW in capacity and located more than 15 km from shore, as they help minimize power transmission losses. Europe is set to install eight new offshore substations in 2024 alone... Floating wind turbines are situated far from shore, meaning we could see the first floating substations in the early 2030s. Jackets have been the preferred foundation concept for most offshore substations, while some projects have also used monopiles directly into the seabed
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