HSBC: Offshore Wind to Hit 43GW by 2020

By 2020, offshore wind power is estimated to increase six times, from 6.5 to 43 GW, HSBC Holdings wrote in its report.

Suzlon, Vestas and Gamesa would see the most benefit from this scenario, reports Bloomberg.

Even though Siemens is the biggest manufacturer of wind turbines, HSBC gave an advantage to Suzlon, as they have ”commercially proven the 6.15 megawatt turbine, which is currently the largest in the market.” Also, Vestas’ venture with Mitsubishi Heavy Industries, and Gamesa’s venture with Areva have put them before Siemens.

Among the UK’s 11GW and Germany’s 7GW, China is expected to join European leading countries with a total of 10GW of installed offshore wind capacity.

According to the report, the USA will only have 1GW of installed offshore wind capacity, comparing to Europe’s 28.5GW and Asia’s 13.5GW.

Offshore WIND staff, May 06, 2014; Image: vattenfall