Making green energy Affordable

Today, green energy is the economic choice. Life-time costs of new solar, onshore, and offshore wind energy generation are lower than those of new-build coal, gas, and nuclear power plants. For offshore wind energy alone, the cost in Europe has dropped by 63% since 2012.

Our Mission & Vision​

At GreenFuel

Our Vision is a world that runs entirely on Green Energy

Not only is this necessary to avoid catastrophic changes to the conditions of life on our planet Earth, it is also possible. Today, green energy is the economic choice. Life-time costs of new solar, onshore and offshore wind energy generation are lower than those of new-build coal, gas and nuclear power plants. For offshore wind energy alone, the cost in Europe has dropped by 63% since 2012.

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Executive Summary

Over three decades, offshore wind energy has emerged as a mature, proven and competitive green energy technology.

1991 – 2001

The first offshore wind farms were built, mainly as demonstration projects in a few European countries.

2002 – 2011

Scaling up. The second phase saw the first modern offshore wind farm, Horns Rev 1, in 2002. After that, projects’ size and complexity grew, but the supply chain had yet to be developed. Short-term, this combination led costs to increase.

2012 – 2017

Driving down costs. In the third phase, the industry committed to a hard push for cost reductions, which led to a 60% cost reduction, making offshore wind energy cheaper than new coal, gas and nuclear-based power generation.

Since 2018

In the fourth, current phase, we see offshore wind energy maturing and going global, moving beyond Europe into North America and Asia-Pacific.

The Evolution of offshore Wind Farms

1991

Vindeby

0.4MW

Height 54m

2000

Middelgrunden

2 MW

Height 102m

2013

London Array

3.6MW

Height 147m

2017

Burbo Bank Extension

8MW

Height 195m

2050

Green Energy Transformation

100 MW

Height 720m

Our Story

GreenFuel offshore wind energy went from a prototype to a mature and competitive technology at an industrial scale. It demonstrates how industrial innovation – and ultimately the birth of new large-scale energy technology can happen when industry and government collaborate. While the industry can research, demonstrate, and deploy new energy solutions at scale, governments must set the framework for the market that enables industrial development, learning, and growth of new and promising technologies. Across the world, countries increasingly act to address climate change by transitioning their energy systems to green energy. Solar, onshore, and offshore wind power can provide the backbone of the world’s new green energy system. However, other complementary technologies will be needed to build a world fully powered by green energy, for instance, to make use of growing renewable power production in decarbonizing heating, industry, and transport, and to store excess energy for when the demand is higher. Such technologies can be developed and matured faster, if governments and industry collaborate effectively, enhancing the world’s chance of mitigating climate change

Road Map

Offshore wind energy has played a defining role in Greenfuel’s strategic transformation and will continue to do so. As the global market leader in offshore wind energy, we are proud at Greenfuel to have been the first mover in maturing a green, scalable, and very powerful renewable energy technology. From its birthplace in Europe, we will in the years to come help offshore wind energy go global, as we deploy offshore wind at scale across countries that want to decarbonize their energy systems.

We Are Happy to Share

We are happy to share our insights on what has made offshore wind energy innovation happen and what it takes for offshore wind energy to go truly global with the potential to power hundreds of millions of people worldwide.