Report: Offshore Wind Spending to Reach €51

press release
Monday, November 21, 2011

Douglas-Westwood Forecast €51 billion Offshore Wind Spend 
 
 

Over €51 billion is expected to be spent on new offshore wind installations over the next five years, according to a new report by international energy business advisors Douglas-Westwood.  The World Offshore Wind Market Forecast 2012-2016 reveals that the world will see new installed capacity amounting to 15 GW over the period, averaging 3 GW per annum; up from 600 MW per annum in the five years to 2011.
 

  • Offshore Wind Goes Mainstream
     

Report author, Frank Wright, noted, “With more than 3 GW of offshore wind now installed globally and more than 2 GW currently under construction, offshore wind is becoming a mainstream power generation sector. The supply chain is experiencing a period of growth and is becoming increasingly differentiated from the onshore wind industry. With the sector moving into the industrialisation phase, major new opportunities are becoming apparent.”


Report co-author, Ian Jones, commented, “The UK, Germany and China will be the largest individual markets, which together will install over 80% of new global capacity. Both the UK and German markets benefit from a combination of attractive financial incentives, clear planning processes and a developing supply chain around the North Sea region. In the UK market, ever larger projects are helping to build momentum prior to the start of construction activity on Round 3 and Germany will start to see multiple commercial-scale offshore wind farms come online. Meanwhile in China, the government is aiming to stimulate another major industry, as seen recently in the case of onshore wind.”
 

  • Increasing Scale
     

Wright concluded, “Offshore wind farms continue to increase in scale with current projects representing investment levels of €1.5 billion or more. Escalating financial requirements will place pressure on project developers, whether they are global utilities or independents and consequently a risk-sharing approach is expected in the future. With several credible wind turbine options now available to project developers, supplier competition is increasing, although DW believe Vestas and Siemens will continue to dominate the market with their proven designs.
 

“Installation vessel capacity is also ramping up with a fleet of highly specialised construction vessels under construction in the Far East and Middle East for a combination of existing operators and new entrants. As the cumulative capacity of offshore wind continues to increase, operations & maintenance (O&M) services will become an ever larger market.”

 

  • About the report:

 

The World Offshore Wind Market Forecast 2012-2016 is the 4th edition of report and examines drivers, case studies, key players, major markets and growth prospects in this increasingly dynamic sector. This report builds upon previous editions with the addition of comprehensive commercial analysis and a more detailed forecasting model. The World Offshore Wind Market Report 2012-2016 has been structured to highlight the industry trends, potential constraints and expected implications as the sector enters a major growth phase.  With over a decade of market modelling experience in the offshore wind sector, Douglas-Westwood has developed a comprehensive database of all projects worldwide. Each proposed offshore wind farm is assessed internally allowing DW to develop unique and detailed market information. All of the forecasts are based upon specific identified individual projects rather than estimations.
 
 

Full report details: http://www.douglas-westwood.com/shop/shop-infopage.php?longref=849~0
 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

Karl Senner Inks Distribution Deal with Electronic Power Design

Karl Senner, LLC (KS) has reached a new strategic representation agreement with Electronic Power Design (EPD). Karl Senner, LLC now represents EPD in the United States marine and offshore Markets.

Shipbuilding

MacGregor Deck Equipment for Intership's Eco-bulkers

MacGregor, part of Cargotec, has secured a deck equipment contract from New Times Shipyard in China for Intership Navigation Co Ltd.'s three new 36,500 dwt laker-class bulk carriers.

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

Workboats

Seacor Takes Delivery of 10,800 HP Crewboat

Seacor Marine is building ever larger and more powerful mono-hull crew/supply boats. The first of these to be delivered is the 202x34-foot Alex F. McCall with some very impressive statistics.

A Classic Repower

The tug Falcon was built by Modern Marine Inc. in 1978. In the intervening years, companies that employed her have changed hands a number of times until 2013 when Vane Line Bunkering of Baltimore,

The Legal Consequences of 46 CFR Subchapter “M”

As the holiday season and the end of another year quickly approaches, the towing industry patiently waits for the Coast Guard to finalize the long-awaited towing vessel inspection rule.

Finance

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

Wind Power

Pile Testing for Wikinger Wind Farm Launched

In October 2014 the first phase of the pile testing campaign for the Wikinger offshore wind farm project was launched after the site’s geotechnical investigation on the Baltic Sea had been completed.

Andrews to Lead CWind’s O&M Division

Lee Andrews has been appointed as CWind’s new global head of operations for maintenance and asset management (O&M) services.   Andrews joins CWind from Siemens

Study: Offshore Ambient Vibration Monitoring

SUNY Maritime research team studies ambient vibration monitoring of offshore equipment Two State University of New York (SUNY) Maritime College professors have received a $65,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1726 sec (6 req/sec)