Analysis & Insight

Offshore Wind Cost Reduction

Published 3 November 2016

Recent strike prices awarded in the Netherlands and Denmark have made headlines throughout the offshore wind industry – in some cases, 60–70% lower than the lowest prices awarded in the UK. In this paper, ORE Catapult’s Investment and Financial Analyst Gavin Smart examines the reasons behind this gulf in cost and provides a cost reduction bridge between the levelised cost of energy for UK offshore wind farms and their European counterparts.