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Developers Adjust Strategies to Changing Environment

European developers follow two distinct growth strategies: a develop-and-sell approach or a develop-and-own approach.  With greenfield opportunities across consolidating and even scaling markets drying up, some pure play developers have transitioned into IPPs as means of ensuring a steady revenue flow, often operating as pure plays in some markets and IPPs in others.  However, a large number of traditional develop and sell players remain, and are now focusing on capitalising on remaining opportunities in Europe’s markets exhibiting wide levels of maturity.

• While developers in high growth markets such as the Balkans are focused on grabbing the best sites, in scaling markets like France, developers are looking to sell their projects. Greenfield project buyers tend to be wind operators with development capabilities, like IPPs and utilities, while new market and/or industry entrants, such as financial investors, tend to buy turnkey.    
• In consolidating markets such as Germany and Denmark, existing developers are mostly focused on realising and selling off the projects in their pipelines, while moving to offshore or new markets to ensure a steady revenue flow.    
• In three to four years, developers will most likely see new opportunities emerge onshore as markets launch repowering schemes, which require operating wind parks to re-enter the permitting process to increase site output.