European wind services study: Find out which way the wind blows
Find out which way the wind blows
Wind energy is certainly one of the most fascinating types of power generation among alternative energies: zero costs and emissions as far as its origination is concerned, high power generation in steady wind regions and cost competitiveness with traditional energy sources in an increasing number of regions.
No surprise: the wind energy sector has been one of the fastest growing and most dynamic industries in Germany and Europe over the past decade. So far, key stakeholders such as wind turbine manufacturers (OEMs), project financiers, investors, wind park developers and operators have focused on the development and installation of on- and increasingly off-shore wind parks. The long-term, stable cash flows of wind parks are proving attractive in volatile markets with low government bond returns.
The European wind services market is expected to reach €4.5 billion in 2020 from €2.3 billion in 2011. It is anticipated that by 2020, turnovers and margins in the maintenance business are expected to be more attractive than the construction of on-shore and off-shore wind farms. With increasing numbers of wind turbines coming out of their warranty periods over the coming years, the market will open up to a large number of new participants. Shifts in value chains and market models are likely to contribute to significant new market opportunities in new geographies.
Taylor Wessing, together with Deloitte, undertook a survey of European wind services market participants in spring/summer 2012, in addition to commissioning primary market research. The key market trends and outlook are summarised in our study. This should be an interesting read for anyone concerned with wind energy – especially investors and funders.
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