Statoil’s record offshore wind lease bid gives it access to the high-load New York market for its first U.S. project but a power purchase agreement will require state support due to the large capacity size and nascent installation network.
The Blauwind II consortium bid a record Dutch price of 54.5 euros/MWh ($58.0/MWh) to win the Borssele 3&4 offshore wind tender, demonstrating how installation learnings and wider construction roles are allowing project stakeholders to establish a lower plateau of prices, industry experts told Wind Energy Update.
Average lifetime revenue for Vattenfall’s Kriegers Flak project in Denmark is forecast to be 20% lower than the record-low bid price and reflects falling CAPEX and cost of equity in the growing offshore wind market, Tom Harries, Wind Energy Analyst at BNEF, told the Offshore Wind Europe conference on November 22.
Predicted sharp growth in U.S. offshore capacity will require innovative insurance products based on early insights into technology choices and lessons learned on onshore operational risk, insurance industry experts told Wind Energy Update.
To compete on costs with fixed-bottom offshore wind and other renewables, the floating wind industry should industrialize the foundation in the same way it has manufactured and commoditized the turbines for onshore wind, according to Henrik Stiesdal, wind energy pioneer and former CTO of Siemens Windpower.
The demand for cable lay vessels will “pick up considerably” in the German, U.K. and Dutch offshore wind markets and remain sustained by at least decade’s end, Andy Readyhough, senior business development manager at DeepOcean, told Wind Energy Update.