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www.sname.org/sname/mt October 2012 MW turbines and even larger models are under development. is means that an average size nuclear reactor of 900 MW can be replaced by 300 oshore wind turbines, assuming they pro- duce at full power 40% of the time while the nuclear reactor produces at full capacity approximately 80% of the time. erefore, in terms of installed capacity, only 150 wind turbines would be enough to replace the nuclear reactor. Headwinds The market outlook, then, is promising but it must be said that some headwinds remain. In some markets, the financial downturn is squeezing renewable energy projects and increasing investors risk premiums. e abundance of natural gas has also become a price competitor to renewable energy such as wind power. erefore, while the investment in wind power is still on the up, some uncertainty remains and policies have to be more reli- able to attract sucient investment. Also, the industry is growing so rap- idly in Europe that it keeps hitting new Installed capacity (MW) in 2011 FORECAST ONLY OFFSHORE Installed capacity between 2012-2016 Cumulative installed capacity (MW) by end of 2016 201120122013201420152016SumAccu. Belgium 0148220144165 677872 Denmark 0150250 2006001,433 Finland 050150200200 France 0240300100640640 Germany 302001,6191,5502,2361,3156,9207,118 Ireland (Rep) 0150214 364389 Netherlands 0229100 329576 Norway 0223 200225227 Spain 000Portugal 202Sweden 02341653001,1401,8392,002 UK3301,0498751,2141,0502404,4286,533 Total Europe 3621,5693,3513,7564,4013,14516,22219,992 Canada 0132264396396 USA 0530156312503503 P.R. China 1081505501,2501,5501,7005,2005,410 South Korea 0100200200500500 Others (Asia) 021317200232232 Total Others 1081555521,3932,0552,6766,8317,041 Total World 4701,7243,9035,1496,4565,82123,05327,033 Oshores global share (% of MW) 4.0%8.2%9.8%11.1%8.5%9%5% Accu. capacity (MW) 5,7049,60714,75621,21227,033 TABLE : INSTALLED CAPACITY THROUGH Source: BTM Consult - A part of Navigant - March 2012 WINDS OF CHANGE