Siemens presents cost out strategy for offshore wind by 2025

In early June, 2016, eleven members of the wind industry association Wind Europe issued a joined declaration containing the target of making offshore wind energy more cost competitive with conventional power generation within the coming years. At the Global Offshore Wind 2016 conference and exhibition in Manchester, England, Siemens as one of the first companies in the business is showcasing its commitment to lower the Levelized Cost of Energy (LCoE) for offshore wind power. Siemens’ offshore wind projects from 2025 onward will be capable of generating electricity at an LCoE level below eight euro cents per kilowatt hour (kWh). This price will also include the costs for grid access to shore. ….