Page 32: of Maritime Reporter Magazine (August 2021)

SHIPBUILDING WTIVs

Wind Foundation Installation Vessel Activities and Attributes

Northwest Europe and China accounted for 99% of installed ment will develop through this decade in most of these markets, capacity at the end of 2020. both for deeper water (over 60m water depth) or in shallow wa-

The UK was the single biggest market, accounting for 32% ter poor soil conditions – possibly for the Baltics and Taiwan. of global capacity by at the end of 2020. Germany was the China: A discrete installation market, that may take assets second largest market with 24% of capacity. This activity has from the international supply but is unlikely to contribute to the supported the development of a signi? cant industrial base for international supply side in the foreseeable future. Initially an wind farm component manufacture installation capabilities. intertidal market, China is developing as a bottom-? xed market.

Europe and the UK has taken three decades to industrialize Vietnam: A largely intertidal market not requiring modern the offshore wind supply chain. The 1990s and early 2000s purpose built WTIVs/WTVFs.

where characterized by comparatively small demonstration In the mid- to long-term, we are tracking offshore wind proj- projects aimed at testing offshore wind technology. Commer- ects in 38 countries. Our Base Case forecast identi? es around cial scale wind farms only started to appear at the start of the 235GW of installed capacity by 2030, around 96% of which last decade. Wind farm development in emerging non-Euro- will be bottom ? xed. This activity will drive the installation of pean markets (Taiwan, Japan, the U.S.) has been supported over 9,300 wind turbines and foundation in the international by European manufacturing capacity and installation vessels. market through 2030 and over 8,000 in China.

China has witnessed a surge in offshore wind activity since The international and Chinese market will be installing dif- 2015, grid connecting 22GW of capacity by the end of 2020. The ferent turbines and foundations. The international market will foundation of the current offshore wind boom is subsidies avail- be mainly supplied by three leading OEMs – Siemens Game- able for projects approved before the end of 2018 and grid con- sa Renewable Energy, GE and Vestas. The largest wind tur- nected by end 2021. Much of China’s initial wind farm activity bine installed today is the 8-10MW turbines. 12-14MW tur- can be classed as intertidal, in very shallow water falling within bines will dominate mid-decade activity and 15MW+ turbines 10km offshore. More recently wind farms have moved outside will be deployed at scale from 2027. The Chinese market will of the tidal zone into offshore waters. China is a relatively closed move away from 4-6.5MW turbines to 10MW and over by the and busy offshore wind market with its own demand drivers. middle of the decade.

For a wind turbine and foundation installation perspective, we see three relatively distinct markets driving demand:

Underlying Technical Drivers

International: This segment is considered largely open for The speed of wind turbines output evolution has been rapid all international assets. Over time, certain markets like Taiwan, – larger wind turbines deliver higher outputs and higher ca-

Japan, the U.S., and South Korea will see an increased supply pacity factors which leads to project cost reductions. As the of locally ? agged and owned assets at which time these markets size of wind turbines grows, so too must the size of WTIVs.

will become increasingly locally content driven. Bottom-? xed Larger wind turbines output results in heavier and larger solutions (up to 60-70m) will drive growth. Floating wind seg- components (nacelle and hub, blades, and towers). The heavier 32 Maritime Reporter & Engineering News • August 2021

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