Wind farm size to expand in next decade amidst cost-cutting pursuit
Onshore and offshore wind could rise to 370MW and 850MW, respectively.
Onshore and offshore wind farms could rise to 370 megawatts (MW) and 850MW, respectively, by 2031 as developers seek ways to reduce its cost, Fitch Solutions reported.
This is up from the 130MW and 310MW average size of onshore and offshore wind farms recorded between 2012 and 2022.
“We highlight that developers are increasingly looking to leverage economies of scale with their construction process, which coupled with the sector's maturity has made it significantly easier to manufacture larger scale turbine,” the report read in part.
Fitch also noted the increase in onshore scale is partially driven by the rising turbine size, as well as the vast scale of some markets wind resources-rich and sparsely populated regions.
“This is true for markets such as Australia, The US and China, which see an average project size of 250-400MWs, while European projects across the Netherlands, Austria and Germany range between 80-150MW,” Fitch also said.
“Higher land prices in European markets and dense populations have constrained size in the region, and we expect that the new globalised reach of wind technology will see new vast developments in new markets.”
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