Windfarms Across Europe Invest in Repowering

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Researched by Industrial Info Resources (Sugar Land, Texas)--Wind energy continues to show great potential, with 78 gigawatts (GW) of new capacity additions worldwide in 2022, bringing total installed capacity to 906 GW--and the market is poised for further growth.

Europe is repowering many of its existing wind turbines, which involves replacing older units and retrofitting them with newer technology. This includes processes such as increasing a turbine's rotor size and upgrading its gearbox, hub, main shaft and main bearing assembly. Many of Europe's turbines were installed 20 to 25 years ago.

Repowering can more than double the capacity of an operational windfarm. It also enhances energy security by bolstering domestic renewable generation. Industrial Info is tracking more than 360 active and planned windfarm repowering projects across Europe, totaling more than US$13.8 billion of investment.

Germany is the biggest driver of investment, with a market share of 56% and US$7.7 billion of investment across 224 projects. It is followed by France and Italy, with US$1.7 billion and US$1.3 billion, respectively. Other top states include Austria, Belgium, the U.K. and the Netherlands.

ENGIE SA (Paris, France), ERG SpA (Genova, Italy) and Statkraft Energy AS (Oslo, Norway) are the top players in the market, having a combined project spending of USD$2.3 billion and a market share of 17%. Most of these projects are expected to be completed by December 2025, while the rest will reach fruition by September 2029.

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Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).