Page 31: of Maritime Reporter Magazine (April 2021)

OFFSHORE WIND to the stage of global scale players within this decade. revenue in a range of $70/MWh to $137MWh. These pricing

In the mid- to long-term, we are tracking offshore wind proj- levels have been reached much earlier than has been seen in ects in 38 countries. the European and Taiwanese industry.

As the industry matures in key markets, CAPEX and OPEX One of the drivers for offshore wind cost reduction is the costs are falling making offshore wind more competitive. development of larger turbines, which help to reduce overall

Reducing from a global average $170/MWh in 2010, 2016 foundation, cable, and maintenance costs. Projects in the US to 2018, European and US auctions have seen strike prices in will mostly deploy the largest commercially available turbines.

the $60/MWh to $110/MWh range. The strike price represents the all-in-cost per MWh to develop an offshore wind project.

Offshore Wind in the United States

It re? ects the guaranteed revenue for the operator. The current US nameplate power generation capacity is

US wind projects will enjoy some of the costs bene? ts ~1,200GW. The US DOE’s NREL has quanti? ed the offshore achieved from the growth of the European offshore wind wind net commercially feasible resource at 2,060GW. This is industry. The utility scale projects due to come online over almost two times today’s total electricity generation capacity. the coming ? ve or so years in the United States will generate Wind resource is available in 29 states along the Atlantic, Pa- www.marinelink.com 31

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