UK and German support for offshore wind boosts A2Sea's outloook

DENMARK: A2Sea CEO Jens Hansen said the UK and German government's recent announcements on offshore wind will result in an upturn in business for the offshore installation company.

A2Sea's Sea Power at work on the 400MW Anholt offshore wind farm off Denmark
A2Sea's Sea Power at work on the 400MW Anholt offshore wind farm off Denmark

However, Hansen warned the market will be slow in the next couple of years. "From a general market perspective it will be quieter," he said.

"It is no secret that a number of offshore wind projects have been postponed, but we expect a strong increase in projects from 2016-2017 onwards."

The head of the Danish company added: "The general picture with the political support for offshore wind being re-emphasised, and support structures recently being improved and extended by the UK and German governments, provides much better visibility for projects and therefore the outlook is very good."

In November, German’s coalition government announced the "compressed" offshore wind feed-in tariff payment is to be extended by two years to the end of 2019.

Last month, the UK government revealed plans to boost subsidies to offshore wind.

Hansen said: "Before and during the German election it was hard to decide if a project had solid economic fundamentals. Now the hesitation will stop. Because of the greater certainty, the better the chances the project will materialise."

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