Page 19: of Maritime Reporter Magazine (April 2022)

Vertical laddersIncline ladders Battens • 17.5 GW of project capacity has secured offtake com- mitments from states, and more than 18 GW of future re- quirements have been identi? ed.

• Developers have recently been selected for at least 11

GW of new Mid-Atlantic offshore lease capacity.

A conservative view – The U.S. EIA forecast assumes 10 GW of offshore wind connected to the grid by 2030 and 23 GW by 2035. Thereafter, the EIA forecasts no growth of the offshore wind base. Based on the EIA ? gures, offshore wind will account for around 2% of electricity generation in the U.S. in 2050.

Based on current developments, this appears to be some- what conservative.

Our view – We forecast 27 GW of capacity to be grid con- nected by 2030 and around 50 GW by 2035. Longer-term we anticipate that 110 GW of installed capacity by 2050 is achiev-

Jacobs ladders

Grating

Treads able. Our forecast is based on developer plans, BOEM leasing and permitting activity and state committed and planned off- takes, details of which can be found in our latest U.S. offshore wind monthly report.

Forecast of CAPEX, Annual OPEX and

DECEX by FID Timing

Forecast ($ billion)GWCAPEXOPEX/yrDECEX

FID made 0.93.50.10.4 0-18 months 1.8214.40.20.8 18-36 months 15.756.51.67.1 36-60 months 11.134.01.15.0

Over 60 months 21.858.82.29.8

Total 51.3167.35.223.1

Source: Intelatus Global Partners (603) 625-8639 EXT 314

Our forecast of capital expenditure, annual operations and maintenance expenditure and end of life decommissioning www.upnovr.com costs by timing of ? nal investment decision through the mid- dle of the next decade is shown on the table above.

Fiberglass Brows

Truss brows

We forecast that ? nal investment decisions for close to 30 GW of offshore wind capacity will be made within the next ? ve years.

Our current forecast for longer term FIDs amounts to close to 22 GW of projects – but this number is growing on an al- most monthly basis as new capacity potential is opened up

Forecast of Offshore Wind Capacity Development

Commercial gangways

Accomodations

Ladder Systems

NAVSEA gangways

Source: Intelatus Global Partners

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