The recent offshore wind auction in Germany was a landmark moment for the industry. DONG Energy’s winning subsidy-free bid sends a clear signal that offshore wind has established itself as an important part of a sustainable, long-term energy mix and that, given the right conditions, it can be delivered without ongoing revenue support. In this paper, ORE Catapult Financial Analyst Gavin Smart examines the technological developments, strategic decisions and assumptions required to enable the economic buildout and operation of subsidy-free offshore wind in Germany by 2025.
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