To meet its offshore wind capacity targets for 2023, the Dutch government expects that EUR 12 billion (USD 13.2bn) of subsidies would be needed, but this may turn out to be too much.
The initial estimate of EUR 18 billion for offshore wind support in the Netherlands was reduced by a third last year. Daily Het Financieele Dagblad cited Simone van Gendt, head of export & project finance markets at Rabobank, as saying that the actual amount could be around EUR 10 billion.
Danish state-owned utility Dong Energy A/S (CPH:DENERG) last month won the right to build the Borssele I and II wind farms, each of 350 MW, offering to sell the power at just EUR 72.7 per MWh. The next tenders in the Netherlands are hoped to again bring such low bids.