GBP 72 Billion Lay in Fighting Corrosion in Offshore Renewables

Offshore renewable energy sector in Europe – including offshore wind, wave and tidal energy industries – could create up to GBP 72 billion of supply chain opportunities in anti-corrosion solutions and the development of new materials by 2050. 

This is according to two new reports from the NeSSIE project (North Sea Solutions for Innovation in Corrosion for Energy), which also show that tackling corrosion issues and developing new materials could save up to GBP 74 billion for developers by 2050.

Corrosion issues in offshore wind are a significant factor in the operations and maintenance (O&M) costs, which are typically around 15 – 30 per cent of the total lifecycle, Scottish Enterprise writes.

The reports published by the NeSSIE project found that, based on offshore renewable deployment estimations, anti-corrosion solutions and new materials could see over GBP 60 billion of savings for offshore wind projects, with potential developers saving over GBP 14 billion for wave and tidal energy projects in the EU by 2050.

For the anti-corrosion supply chain, the wave and tidal energy markets could potentially lead to over GBP 22 billion of projects in the wider EU by 2050 and over GBP 50 billion for offshore wind projects.

According to Scottish Enterprise, the reports contribute to NeSSIE’s overall objective of developing three investable demonstration projects in offshore renewables focused on corrosion and materials. The projects will utilise the existing EU subsea supply chain and their knowledge to develop commercial solutions.

Jan Reid, team leader in the energy and clean technologies team within Scottish Enterprise, said: “The key to unlocking this opportunity is developing investable demonstration projects that will prove the technological solutions. Working together with Stakeholders, we at NeSSIE are excited to be involved in the development of anti-corrosion solution demonstration projects.”