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    Denmark Renewables Forecast Scenario

    August 16, 2022 - Fitch Solutions Sector Intelligence


      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      Denmark Renewables Forecast Scenario

      • 16 Aug 2022
      • Denmark
      • Renewables

      Key View: The Danish non-hydropower renewables market is very well developed but still offers opportunities for growth. The country is focusing primarily on the expansion of wind power, particularly offshore wind power, and there are a number of large-scale developments at the planning stage and entering active stages of construction. By 2031, we expect that non-hydropower renewables generation will rise to 50.7TWh, up from 29.1TWh in 2022 following average annual growth of 7.1%. Wind power will make up the largest share, accounting for over three-quarters of total renewables generation by the end of the forecast period, following by biomass on around 18% and solar power just under 5%.

      Almost Entirely Powered By Renewables
      Denmark - Non-Hydro Renewables Generation By Type And Share Of Total Electricity Generation (2021-2031)

      e/f = Fitch Solutions estimate/forecast. Source: EIA, IRENA, Fitch Solutions

      Offshore Wind Will Drive Capacity Growth
      Denmark - Non-Hydro Renewables Capacity By Type And Growth (2021-2031)

      e/f = Fitch Solutions estimate/forecast. Source: National sources, Fitch Solutions

      Still Room For Expansion In Renewables Market


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