Emerging offshore wind market in Northern and Eastern Europe are set to benefit from both domestic and external developments, resulting in a likely addition of 4.4GW in new capacity by 2027, Wood Mackenzie’s MAKE Consulting forecasts in a new report.

“Plummeting strike prices have made offshore wind emerge as an attractive substitute across markets in Northern and Eastern Europe, which look to curb greenhouse gas emission, enhance energy security, and avert the risk of a generation deficit,” the researchers say.