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Douglas-Westwood: Offshore wind spending
set to average almost 15 billion per year over the next ten years



Offshore wind spending set to average almost 15 billion per year over the next ten years

Now in its fifth edition, the new Douglas-Westwood (DW) World Offshore Wind Market Forecast provides a ten year view of the sector through to 2022.

The last five years saw global capital expenditure increase significantly, however DW predict that over the next decade this spending will level off at approximately 15 billion per year. New global installations are expected to average just over 3,000MW per year during this period.

The increase in turbine capacity is considered to be one of the key factors for reducing the cost of energy, and European offshore wind developers will be specifying larger wind turbines with capacities of 5MW or greater. The size of the components for these future wind turbines will create unique challenges for installers, foundation designers and service 
providers.

As the industry seeks to reduce costs, a new generation of wind turbines designed around the unique requirements of the offshore environment are being rolled out with European project developers increasingly choosing to specify larger models with power outputs of 5 MW or more. The size of the components for these future wind turbines creates a unique set of challenges for installers, foundation designers and service providers.

A new manufacturing supply chain focused on the Northern European markets is slowly developing to meet demand with significant investments being made in aspects such as port infrastructure and foundation manufacturing capacity. At the same time, it will be crucial to leverage the experience and additional supply chain capacity from the offshore oil and gas  sector. Click here for Report Details

Key Themes

The report provides detailed market forecasts through to 2022 and is essential reading for companies working within the offshore wind sector. The report focuses on:

Key drivers a discussion of factors driving offshore wind installation activity including low carbon targets, rising energy demand and the need to replace power generation capacity.
Commercial insights including analysis of cost pressures on capital, life-time costs, risk factors and typical financing  models.

Technology Review analysis of R & D priority areas.

Supply chain a review of the main players, strengths & weaknesses of contracting strategies and supply chain development  challenges.

Ten-year market forecast for new capacity, capital expenditures, operating expenditure, wind turbines, support structures,  cabling, substations and vessels.

Country analysis detailed operational & capital expenditure forecast, including by capacity and segment analysis

Source: Douglas-Westwood
www.douglaswestwood.com 
September 5, 2013
















 


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