VIDEO: Investment and Future Prognosis (Expertise Hub)

It has been projected that global offshore wind expenditure will reach GBP 210 billion (approx. EUR 247 billion) by 2025.

Investments in the offshore wind sector depend on the certainty within the market, and this is subject to favourable governmental policies and the industry’s ability to cut down the costs, which create a solid ground for the development of offshore wind projects and an electricity price affordable to consumers.

The effort to reduce the cost of offshore wind energy is reflected in constant technological advancement, improvements within the supply chain, as well as cost-efficient O&M solutions.

Following the results of the first Dutch tender for the Borssele Zone, the Danish nearshore tender, as well as the latest one for Kriegers Flak, it is anticipated that the price of offshore wind power could fall even faster than expected and put more wind into the sector’s sails.

According to Marc Schmitz, Senior Vice President of Rabobank, industrialisation size is crucial for bringing down the costs, thus allowing for more investment into the sector.

Watch the entire interview with Marc Schmitz HERE.

Speaking about promising non-European markets, Alun Roberts, Associate Director at BVG Associates, pointed to the US and Japan as the countries where offshore wind is gaining momentum.

Watch the entire interview with Alun Roberts HERE.

Setting up offshore wind infrastructure in deeper waters means manufacturing bigger components, and then transporting and installing them far from shore, which poses a challenge for reducing the costs. Rob van der Hage, Business Manager Offshore at TenneT Netherlands, spoke about the ways of keeping down the costs while building farther offshore.

Watch the entire interview with Rob van der Hage HERE.  

To allow for the development of more offshore wind projects and reaching the targets, Chris Westra, Director at Chris Westra Consulting, said that harmonisation and a path to one European offshore grid are key.

Watch the entire interview with Chris Westra HERE.

The interviews took place at the first Offshore WIND Expertise Hub, set up during the Offshore Energy Exhibition & Conference 2016 in Amsterdam.

(Note: The event was held on 25 and 26 October, therefore Kriegers Flak tender outcome was not referred in the interviews.)