EU adds record 17 GW of new wind power capacity in 2023

European Union countries installed 17 GW of wind capacity in 2023, the highest on record, sector association WindEurope said Jan. 12.

Annual additions need to rise to 30 GW to meet 2030 targets, the association said noting the sector was only slowly gathering momentum, up 2 GW from 2022 and some 5 GW above 2021.

Germany added most new wind capacity last year, followed by the Netherlands and Sweden. Some 3 GW were added offshore led by the Netherlands.

Wind accounted for 19% of the EU's total electricity production last year, according to WindEurope.

Capacity factors also continued to grow with new onshore wind farms now ranging from 30% to 48%, while new offshore wind is consistently at 50%, it said in a brief statement ahead of a more detailed annual report and outlook.

The International Energy Agency estimates that Europe will build 23 GW/year of new wind over 2024-28 with actions set out in the EU Wind Power Package set to deliver a significant increase in the annual growth.

National implementation of the actions is key, according to WindEurope.

Record wind deflates prices

Meanwhile, capture prices for wind across Europe fell sharply in 2023 from 2022 levels that triggered windfall tax regulation.

Platts, a unit of S&P Global Commodity Insights, assessed German onshore wind capture prices in a daily range of minus Eur54/MWh to Eur204/MWh with the volume-weighted annual average around Eur79/MWh, down 54% on the year.

Spanish wind capture prices were lowest across the 12 categories assessed, averaging Eur75.56/MWh in 2023, S&P Global data showed.

Across Europe, wind turbines generated over 500 TWh for the first time ever in 2023 with monthly average output ranging from 35 GW in June to a record 85 GW in December.