Dong plans 6.5GW of offshore wind by 2020

Dong Energy said driving costs out of offshore wind will be a key focus as it sets out to install 6.5GW of capacity in Europe’s seas by 2020.

The Danish group – which also revealed it needs an injection of “at least” DKr6bn ($1.05bn) of new equity – said the offshore wind target is at the heart of its strategy.

“In the years leading up to 2020, we aim to achieve significant growth, measured in both output and capacity,” the company told shareholders in its annual results statement.

Dong wants to see offshore wind’s cost of energy below €100/MWh by 2020, which it says corresponds to a 30% drop compared to 2011’s figure.

It identified the construction phase as the main source…

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