Dong to quadruple offshore capacity by 2020

3.5GW target for end-2016, aiming for 6.5GW by 2020

Dong Energy is aiming for 6.5GW of operating offshore wind capacity in north-west Europe by 2020, with an intermediate target of 3.5GW by end-2016. This compares with an operational portfolio of 1.7GW at the end of 2012.

The Danish energy company has also set itself a cost reduction target, intending to drive down generation costs to below €100/MWh by 2020. This would represent at least 47% less than Germany's current feed-in tariff for offshore wind generation, which is set at €190/kWh.

At DKK7.8bn (€1.0bn), offshore wind accounted for just 9% of Dong’s 2012 intergroup revenue of DKK86.7bn, but employed 1,951 staff, or 34% of Dong’s 5,670 headcount.

For a full report on Dong's 2012 financial accounts and offshore wind strategy see Dong banks on 'high-growth, competitive' technology.

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