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Summary of our market study
By 2024, the annual global capacity of wind power installations is expected to reach 73 gigawatts, a 24-fold increase over a 26-year period. Offshore wind power production has seen a massive increase. Installed capacity is growing at an average annual rate of 30%.
Among the countries, China dominates, with 43% of the world's wind power capacity. France has a target of 10 GW by 2030.
The European Commission's target of 340 GW by 2050 underlines the strategic importance of wind power.
France, home to the world's second largest maritime surface, naturally harbors significant offshore potential. Projections show that French wind power capacity could be multiplied by 2.5 by 2028, mainly due to the development of offshore wind power, which remains a relatively untapped resource.
French sentiment towards wind power presents an environment conducive to the growth of this renewable source, with around 73% of the population viewing it positively and more than half wishing to see its development in the future.
Players in the French wind energy market.
- Vestas: Originally from Denmark, Vestas is one of the leading manufacturers of wind turbines, with a 29% share of installed electrical capacity in France.
- Siemens Gamesa: A German-Spanish company, Siemens Gamesa has established itself as a key competitor and contributor in the wind energy sector.
- Engie: A leading operator in the wind farm market, with an 18% stake in installed capacity.
- EDF Énergies Nouvelles: A subsidiary of Électricité de France (EDF), this company plays a key role as an operator in the wind energy market, with a 13% share of installed capacity.
- General Electric (GE): The American multinational's presence in St-Nazaire illustrates the strength of global industry within French borders. GE's St-Nazaire plant not only serves the French market, but also exports wind turbine technology abroad, signaling the industry's global interconnectedness.
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Summary and extracts
1 Market overview
1.1 Definition and scope of study
A wind turbine located offshore is a wind turbine installed at sea, more than 10 km from the coast . It is connected to the network by a submarine cable. An offshore wind turbine works in the same way as an onshore wind turbine, with the big difference that it is located at sea in order to make better use of the energy of the wind driving its blades. The earliest models of offshore turbines were land-based wind turbines installed at sea. Industrialists have had to develop these wind turbines into units that are better adapted to the maritime environment and its constraints.
The global offshore wind energy market is growing rapidly: between 2009 and 2018, annual installed capacity grew by 34% and annual production increased by 1,600% . This very rapid increase in power is accompanied by significant needs for the construction and operation of offshore wind farms France has not yet commissioned any offshore wind farms but now she's trying to catch up The turnover of companies in the sector grew by 29% between 2016 and 2016 and should continue to grow with the planned commissioning of around ten projects between 2020 and 2023.
The trend in the French market is to the construction of wind farms to meet the objectives set by the Multiannual Energy Program which is targeting 5.2 GW of offshore wind power capacity by 2028. There is also a development of floating wind turbines which allow to free oneself from the constraints of the depth of the bottom of the installed wind turbines.
The main players in this market are public authorities manufacturers such as Vestas or Enercon and operators such as Engie or EDF Renewable Energies .
List of charts presented in this market study
- Capacités annuelles des installations d'énergie éolienne
- Production d'énergie éolienne offshore
- Capacité d'énergie éolienne offshore supplémentaire installée et connectée au réseau
- Capacité cumulative d'énergie éolienne installée par pays
- Capacité éolienne offshore par pays
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Latest news
Engie accelerates battery development in the United States - 25/09/2024
- 1. Storage capacity added by Engie in the U.S. since January: 1 gigawatt (GW), bringing total U.S. installations to 1.8 GW.
- 2. Total capacity of Engie installations worldwide: 2.3 GW.
- 3. Engie's renewable generation capacity in the U.S.: 6 GW.
- 4. Percentage of flexibility required*: 20 to 30% for 100 megawatts of installed generation capacity.
Engie persuades BASF to acquire biogas for the long term - 05/07/2024
- Biogas contract duration: 7 years
- Delivery location: Ludwigshafen in Germany and Antwerp in Belgium
- - Biomethane use: Replacement of fossil gas in various production processes (automotive industry, packaging, detergents, textiles, etc.)
- - biomethane is almost three times more expensive than fossil gas
- - Number of similar contracts signed by Engie: 5, including one with chemical company Arkema
Engie launches Dutch biomethane production - 16/04/2024
**Engie's target for 2030**: to reach a biomethane production capacity of 10 TWh.
**Engie's current production capacity**: over 1 TWh
**Capacity of new units in the Netherlands**:- **Hardenberg**: 90 GWh, with possible extension to 140 GWh. - **Alkmaar**: 47 GWh, with potential to double capacity.
**Engie investment by 2030**: 3 billion euros in biogas
**Biomethane prices**: - In the Netherlands: between €90 and €105 per MWh. - In France: around €110 per MWh.
**Distribution of Engie capacity by country**: - Netherlands: 137 GWh. - United Kingdom: 217 GWh. - France: approx. 0.7 TWh.
Engie New Ventures bets on Upstream Tech, a start-up specializing in water management - 16/12/2023
- Creation of ENGIE New Ventures (ENV): 2014
- Total amount invested by ENV: Over 250 million euros
- ENV investment areas from 2020: Biogas, hydrogen, renewable energies and decarbonization
- Upstream Tech creation date: 2016
- Upstream Tech headquarters: Massachusetts, USA
- Number of Upstream Tech employees: Around 30
- Power of ENGIE's hydroelectric fleet worldwide: 18 gigawatts, equivalent to 18 nuclear reactors.
Vestas: pleading for shorter commissioning times in Europe - 09/08/2023
- The Danish group has forecast annual sales of between 14 and 15.5 billion euros
- The target of installing 30 GW of wind power capacity in Europe was missed, with only 15 GW actually installed.
- The value of Vestas' order book increased to €20 billion, compared with €18.9 billion last year.
- 80 GW of wind power projects are planned in Europe.
- The company's services order book continues to grow, compensating for the slowdown in wind turbine sales, and now stands at 31.6 billion euros.
Wind power: Siemens Energy's losses soar - 08/08/2023
- Siemens Energy, the world's second-largest wind turbine manufacturer, posted a loss of almost three billion euros in its third fiscal quarter.
- The company had already announced an increased failure rate in June, which caused its shares to fall by almost 40% on the stock market.
- The company estimates the costs of resolving its quality problems at 1.6 billion euros, which were taken into account in the last quarter.
- The company expects an after-tax loss of 4.5 billion for the full 2022-2023 financial year, despite sales growth of 9-11%.
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