There is a 4.5% rise in offshore installation capacity in the first half of this year when compared to the first half of 2010, according to a report by European Wind Energy Association.
A total of 101 new offshore wind turbines, with a total capacity of 348MW, were connected to the power grids this year in the UK, Germany and Norway.
The report says that a total of 1,247 offshore wind turbines were fully grid connected with a total capacity of 3,294MW in 49 wind farms spread between nine European countries, as of 30 June 2011.
The size of the installed offshore wind turbines averaged 3.4MW this year compared to 2.9MW during the first half of last year.
Eleven offshore wind farms, valued at EUR8.5bn, with a total capacity of 2,844MW are currently under construction in Europe.
A total of EUR3bn will be secured in loans to build several wind farms in Germany and the UK in 2011, of which three and five transactions are expected to close during the course of the year.
EWEA CEO Christian Kjaer said the number of banks providing capital for offshore wind farm investments is steadily growing, although there is a continued need for attracting an increasing number of large institutional investors to offshore wind farms.
Project developers and power companies will use equity financing, including divestment of stakes in existing projects to initiate new ones.