Renewables already supply over 35% of Europe’s electricity and the sector will continue to make substantial progress towards decarbonisation. But, even at current levels, wind and solar production has clear implications for markets and prices. The continuing transformation of electricity supply will see increased price volatility and expanding flexibility requirements.
Against this background, offshore wind is becoming increasingly competitive and subsidy-free developments represent a substantial opportunity in Europe. New business models are delivering growth and merchant market exposure will quickly become commonplace for offshore wind.
Watch Wood Mackenzie's Rolf Kragelund, Director, Global Offshore Wind and Peter Osbaldstone, Director, European Power Markets as they explore the merchant offshore wind potential of the UK market.
Also covered during the webinar was be:
• Power prices and capture price development
• Assessment of merchant offshore wind potential
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