Wednesday, 19 June 2019

Renewables

US Offshore Wind Discussion at the Global Wind Summit in Germany

To explain the accelerating U.S. offshore wind industry as well as the smart and progressive plans by U.S. states, two top offshore wind experts -- Liz Burdock, President and CEO of the Business Network for Offshore Wind, and Ross Tyler, the Network’s Executive Vice President – will speak at the Global Wind Summit in Hamburg, Germany, September 24th-28th.

Their main message to summit participants is the important significance of the fast-growing U.S. offshore wind industry. The U.S. provides opportunities of scale and now, with the ongoing realization of state commitments for their utilities to procure specifically offshore wind generated electricity, the U.S. market is real and offers commercial opportunities to specialist supply chain businesses.

Scottish and other European businesses may find the latest news of state procurements important for targeting their market interests and reviewing the U.S. in a new light, especially in comparison with today’s Asian markets. For example, unlike Taiwan, the U.S. benefits from a seasoned oil and gas sector, which serves as the basis of an indigenous offshore wind supply chain, essentially ready-to-go based on decades of experience on offshore platforms.

Some companies in the U.S. oil and gas sector are starting to prepare for change in energy development. Many State Governors and the Trump Administration are partnering with the offshore wind industry’s investment in moving away from energy-releasing carbon emissions.

The lack of an oil and gas industry in Taiwan and its market size limitation means the U.S. is now beyond a ‘place holder’ within the industry and is a true commercial opportunity. Offshore wind on the east coast has become highly competitive almost overnight and the rush to scale is rapidly gaining momentum. Further, California on the Pacific Coast is beginning to open up, adding the U.S. to the technology drive for floating offshore wind technology.

biz networkHere is a summary of Liz’ and Ross' thoughts to consider:

  • U.S. states may appear to be chasing their own short-term interests and benefits but they also are cooperating with each other to ensure lower costs for their ratepayers and a greener environment to drive down carbon emissions. This year and next, states will be searching for help. They will strongly consider indigenous companies but also will need highly experienced professionals who have the answers to questions and solutions for problems. Driving the “race to scale” is an expectation that states will dominate the supply chain with a regional approach. No doubt the market forces will prevail in the U.S., aided by state and federal incentives.
  • The Business Network for Offshore Wind, through its supply chain outreach, can provide you a birds’ eye view of the entire country. We work with all states investing in offshore wind as well as the emerging private, U.S. companies in the offshore wind field.
  • States are organizing their utilities to have ratepayers support the procurement of offshore wind and to begin moving away from the traditional energy mix. Some of the early challenges are now being overcome. These include: 1) creating a strong market penetration - now with approximately over 10 gigawatts (GW) committed to the next few years. It’s important to note this pipeline is almost double the Taiwanese aspirations of 5.5 megawatts (MW); 2) advancing floating offshore wind technologies; 3) achieving lower power prices; 4) boosting new opportunities for innovation and technology, such as big-data and advancing logistics to help with the deployment of the latest and largest turbines.
  • The US large scale is the perfect market for the bigger 8 to 9 MW as well as the GE 12 MW. These larger machines will generate more power and improved financial viability, enhancing a future gearing of additional economies of scale.
  • The U.S. market is taking off with alacrity with a growing number of project sponsors, developers, EPC contractors, investors and lenders, as well as a favorable wind resource in both shallow and deep waters.

NETWORK SPEECH DETAILS

WHEN: Thursday, Sept. 27, 2018 from 11:30 a.m. to 1:00 p.m.

WHERE: Scottish Trade and Development, Hall B2 GF, Booth 255

We aim to keep you updated weekly with relevant information concerning the Offshore Energy Sector.

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