Over the past decade, bottom-fixed offshore wind has matured rapidly, and so have its project cost levels. Understanding historic CAPEX developments and trends is key for offshore wind developers and the supply chain to benchmark, forecast, and plan effectively.
After increases in the early days of the industry as projects moved to deeper waters and farther to shore, the following 10 years saw aggressive downward CAPEX trajectory influenced by:
🔹Economies of scale: Larger project sizes and industrialized installation methods have helped bring down the cost per MW, particularly in mature European markets.
🔹Turbine scaling: The shift to larger turbine models has driven CAPEX efficiency, enabling more capacity per foundation and reducing installation costs.
🔹 Supply chain optimization: Standardization, competition, and technology improvements across key components like foundations and cables have steadily lowered CAPEX over time.
But recent years have reset some of these gains; what will the future hold?
Aegir Insights’ global Project Database makes it possible to explore historical CAPEX trends and levels across offshore wind projects and forecast future cost scenarios under different market conditions to support better investment and development decisions.
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