DNV has led a joint industry project with eight companies across the European offshore wind supply chain to quantify how standardising turbine designs and securing predictable project pipelines could reduce the average lifetime cost of electricity from North Sea offshore wind. The study, conducted in response to rising project costs, uneven auction results and stop-start development pipelines, models the levelised cost of energy under three North Sea scenarios from 2025 to 2050. The three scenarios demonstrate the relationship between market growth, production-run length and cost reduction. Under a business-as-usual scenario with moderate growth and short production runs, LCoE falls by approximately 5% by 2035. Extending production runs under the same market growth achieves a 14% reduction by 2035 and 25% by 2050. The highest-volume scenario, combining sustained deployment with longer production runs, delivers reductions of approximately 19 percent by 2035 and 28% by 2050. The model uses turbines of approximately 15 MW on monopile foundations as a reference platform. The study identifies ports as a constraint in the high-volume scenario, with installation capacity approaching its limit and requiring expansion and targeted upgrades. The immediate risk identified is underutilisation of existing capacity caused by irregular project flow, which weakens the investment case and reduces the industry’s ability to respond when demand increases. The report calls on policymakers to convert deployment targets into visible project pipelines and consistent auction schedules, on developers and turbine manufacturers to align earlier on design envelopes and interfaces, and on suppliers to invest in identified capacity constraints ahead of broader expansion. Peter Constantin Brun, Global Segment Leader for Offshore Wind at DNV, described the study as the first to document in detail the significant cost-reduction potential of industrialisation and standardisation, providing gove