Some €26.3bn ($31.7bn) in new capital came rushing into Europe’s offshore wind market in 2020 to finance 7.1GW of projects as the UK, Netherlands, Germany and France shrugged off pandemic-linked constraints with final investment decisions (FIDs) for major developments, according to a new report from WindEurope.

Latest figures from the industry advocacy body show Europe at the same time installed 2.9GW of new offshore wind capacity over the year, “in line with [its] pre-Covid forecast”, taking the EU fleet to 25GW.