Page 8: of Marine News Magazine (November 2022)

7 9

By the

Numbers

US Offshore Wind Building Up

By Philip Lewis, Intelatus Global Partners

Once again, the events of the last month have shown are expected to make an FID within 18-36 months as well that the drive to grow the U.S. offshore wind segment has as an additional nine projects for 10 GW in 36-60 months.

lost little steam. The foundations are ? rmly in place to Longer term, we have identi? ed 35 projects with a to- support the deployment of 30 gigawatts (GW) of offshore tal capacity of 41 GW, which support the installation of a wind by 2030 and 110 GW by 2050. cumulative 66 GW by 2035 and around 75 GW by 2040.

Floating wind farm technology demonstration projects Eleven OCS developments with a potential of over 18 are being developed for both Atlantic and Paci? c coasts as GW are currently undergoing federal permitting review to a precursor to large-scale ? oating wind farm projects being create the foundation of meeting the 30 GW by 2030 goal. constructed towards the end of the decade and beyond. 17.5 GW of project capacity has secured offtake commit-

This month has seen an acceleration of the efforts to sup- ments from states. Longer term, deployment goals by port the development of commercial scale ? oating wind states already amount to over 96 GW, which is beginning technology in the U.S. as the federal government sets a to make the White House goal of 110 GW by 2050 look target to deploy 15 GW of ? oating wind capacity by 2035. somewhat conservative.

Whereas this represents a signi? cant opportunity, there Federal authorities have launched the leasing process for also remain numerous supply chain challenges to address, over 4.5 GW of ? oating wind capacity offshore California, especially as the global installed ? oating wind capacity is further auctions are being developed for the South Atlan- only around 150 megawatts (MW) today. tic, the Gulf of Mexico, the Central Atlantic, Oregon and

Two major outer continental shelf (OCS) projects with the Gulf of Maine before the end of 2024. Expressions of around 940 MW of capacity have already reached ? nal interest have also been received to develop bottom-? xed investment decision (FID) and have commenced onshore and ? oating sites in the Central Atlantic.

construction. An unsolicited request has been submitted to develop a

One large OCS project is now close to ? nal permitting 2 GW ? oating wind farm in Washington State.

and legal objections have been removed to the develop- Turbine component, foundation, and cable factories ment of an approved offshore wind pilot project in the and Jones Act wind farm vessels are being built in the U.S.

Great Lakes. The number of projects that are expected and offshore wind port development is accelerating. In- to make a ? nal investment decision within the next 18 centives to promote further investment in the local supply months is nine amounting to around 9 GW of capacity. chain and Jones Act vessels have been rolled out.

A further 14 projects with a capacity of close to 12.5 GW Our forecast accounts for projects that will install over 70 GW of capacity in this and the next decade and a total 110 GW by 2050. The 69 GW forecast capacity will re- quire capital expenditure amounting to around $210 bil- lion to bring onstream, a recurring annual operations and maintenance spend of around $7 billion once delivered, and close to $32 billion of decommissioning expenditure at the end of commercial operations.

For more information about Intelatus Global Partners’ U.S.

Offshore Wind Market Forecast, visit www.intelatus.com or contact Michael Kozlowski at +1 561-733-2477or Philip

Lewis at +44 203-966-2492.

© Cavan / Adobe Stock | MN November 2022 8