In 2023, the offshore wind industry faced some significant challenges. As we approach 2024’s mid point, where does the industry find itself? Could developments within the offshore wind sector in the first half of the year point towards a light at the end of the tunnel and signal that a potential industry recovery is underway? Aegir Insights’ latest analysis, now available to clients, explores encouraging signals and recovery risks across EMEA, APAC, and the Americas. Our comprehensive report assesses the global status of the offshore wind industry, highlighting key countries and data points using our market recovery barometer. Interested in getting a glimpse of our new analysis? Reach out to us here: https://lnkd.in/egxcvDZB or contact VP Business Development Matthew Delany to arrange a discussion. #offshorewind #windenergy #intelligence #analytics
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In today's competitive landscape, the ability to access comprehensive data, insights, and tools is crucial for success in the wind energy sector. The importance of offshore wind is increasingly recognized, offering unique opportunities for companies with extensive experience and resources from other sectors to drive efficiencies throughout the offshore wind development process. As the sector evolves, a wealth of data is becoming available to developers, underpinning successful decision-making even before financial commitments are made. This includes everything from market intelligence, wind and metocean data, advanced wind resource analytics, to subsurface imaging and data management strategies. Importantly, as the quantity and variety of data grow, developers need additional resources to leverage this vast pool of knowledge effectively. #WindEnergy #OffshoreWind #RenewableEnergy #DataInsight #MarketIntelligence #ResourceAnalytics #SustainableDevelopment TGS | 4C Offshore TGS
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[005] Posted on 22.01.2024 #OffshoreWind #洋上風力 #オーシャンエナジージャパン #OffshoreWindInfo #洋上風力インフォ #洋上風力メモ #Publication #Report #レポート The Carbon Trust Designing an effective offshore wind market: how competitive auctions can move beyond price to deliver the next frontier of offshore wind Press release (Jan2024) https://lnkd.in/enepqSxC Full report (PDF): https://lnkd.in/eKPWKQjF This is the third report in a series of policy briefings of "Designing an effective offshore wind market". 📰 1st (July2023): Six policy pillars for success https://lnkd.in/dDqFAGdX 📰 2nd (Nov 2023): Why bold targets and clear development plans are key https://lnkd.in/gsQ_QdE5
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Despite passing a number of milestones this year, the #floatingwind power sector continues to face great uncertainty over its industrial progress. What are the barriers holding it back? Last week Aegir held its first #Wavelength Intelligence Briefing, featuring our Head of Data Victoria Maguire Toft and Chief Executive Editor Darius Snieckus discussing how the floating wind sector can navigate its way into full-scale international commercialization. Among the highlighted challenges the sector needs to overcome, in Aegir's view: 🔹Scale continues to be a key determinant for floating wind power's ultimate growth as it drives lower costs and supply chain development. 🔹Build-out of floating wind to-date has been quite fragmented, slowing the industry's up-shift to serial production and contributing to less-than-optimal learning curves. 🔹Consolidation of technology options, starting with hulls/platforms, will be central to the speed of the sector's industrialization. Additionally, we see a development from fixed-bottom projects going into deeper areas. How could this affect the future of floating wind? Missed this Wavelength Briefing? Sign up now to access the recording via the link below: https://lnkd.in/e-cnSX9T --- 🎙️Aegir Wavelength is our digital event-series, focusing on delving into key talking points, market developments and thought-leadership in the offshore energy transition. Follow us to be the first to know when registration opens for the next Wavelength – coming soon! #offshorewind #floatingoffshorewind #energytransition #renewableenergy
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It was great to catch up with my former Atlantic Wind Connection colleague in our latest episode of the Energy Markets Podcast where we discuss the status of offshore wind in the U.S. Kris Ohleth, executive director at the Special Initiative for Offshore Wind, speaks to the strong post-COVID headwinds – dramatic inflationary pressures and supply chain problems – that have rendered several Atlantic coast projects uneconomic. After writing down its assets by $2.3 billion, Orsted's stock has been punished by the market as the company threatens to walk away from uneconomic projects unless their terms can be renegotiated to reflect changed economic circumstances. Offering another barometer of the deep bear market for offshore wind were recent lease auctions in the U.S. and UK, which received little to no interest. While acknowledging the near- and medium-term challenges churning the waters for the industry, Kris remains bullish on the long-term prospects for #offshorewind in the United States: "If you look at the decarbonization and clean-energy goals that we have for this nation, there is literally and absolutely no way to meet them without offshore wind. It is a technology of scale that is the only one, in fact, available for coastal states – for many coastal states in the United States – to meet their state and the overall national clean-energy targets that we need, especially as we continue to electrify our transportation systems and our building units. So there's a real demand for it. And I believe that the market will recorrect and we will make additional incremental progress towards commercialization in the United States in the next decade." https://lnkd.in/eM9GrrKn
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Missed Aegir’s latest #Wavelength Intelligence Briefing last week? Here are some key take-aways from analyst Sebastian Kæmpe Hansen and Chief Executive Editor Darius Snieckus’ discussion on rethinking #LCoE for offshore wind’s post-correction industrialization: 🔹 The drive for ever-lower levelized cost of energy from offshore wind projects in the last decade has negatively impacted developers - rippling ‘downstream’ into the supply chain – and often led to miscommunication and false interpretation of cost/MWh. 🔹 There are a range of 'right ways' to calculate LCoE but if numbers are being shared without the accompanying assumptions behind the unit or metric then the final MWh figure can be reductionist and even misleading. 🔹Moving ’beyond LCoE’ - factoring in a range of inputs from the social value of a project (jobs, clean power and environmental benefits) through to whether adding an energy storage solution for low wind days would improve efficient delivery to the grid - will take the industry beyond a simple cost/MWh formula and increase a project's true value but will generally also mean a higher LCoE 'on paper'. Sign up here for the recording of our 15-minute Wavelength to learn more: https://lnkd.in/dzP3GCGB --- 🎙️Wavelength is Aegir’s digital briefing series where we delve into the key talking points and market developments in the offshore energy transition in a 15-minute, coffee-break format. Follow us to be the first to know when registration opens for the next Wavelength – coming soon! #offshorewind #energytransition #renewableenergy #Levelizedcostofenergy
Aegir Wavelength Intelligence Briefing - Rethinking LCoE
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The recent published Global Wind Energy Council (GWEC) and Boston Consulting Group (BCG) "MISSION CRITICAL: BUILDING THE GLOBAL WIND ENERGY SUPPLY CHAIN FOR A 1.5°C WORLD" report is mentioning #public #investments in #workforce and #skills as one of the 6 recommendations. Good to see that #humancapital / #skills is (finally) seen as an important part of the supply chain. This is a first step in starting triple helix solutions to close the gap between need vs demand. Let's keep the momentum going and get Human Capital on the important political agendas. https://lnkd.in/gP_3DM2H
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First six months 2023: Vattenfall’s business is in general progressing well. We benefit from our integrated business model with better results from Distribution, Heat and Customers & Solutions. However, overall we report a lower result for the half year, mainly due to an impairment in offshore wind power. Falling market prices were partly compensated by our price hedges. #Vattenfall #financialreport #energy #energiemarket #fossilfree https://lnkd.in/ec3U6cMd
Vattenfall – interim report, January-June 2023
group.vattenfall.com
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We are ecstatic about the Society for Low Carbon Technologies’ involvement at SPE Offshore Europe, as highlighted by the following: • Paul Slorach the CTO of Verlume, who is an Industry Advisory Board member, presented on a panel focused on “Offshore Wind: Technology commercialisation insights from 3 leading technology developers.” Paul is Pictured in the image’s top portion. • David Reid the CTO of NOV, a Founding Board Member, presented on “Geothermal - What’s oil and gas go to do with it? David is Pictured in the image’s lower portion. Their involvement and the theme of their presentations embodies the SFLCT’s view: to harness the world of energies that does not pit one form of energy against another. #Geothermal #Offshorewind #Lowcarbon
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In 2023, the U.S. offshore wind market faced challenges such as supply chain issues, inflation, and project cancellations. Despite setbacks, some projects are progressing, and lessons learned are being applied to the industry's future. Our new white paper discusses these issues in detail: https://lnkd.in/eKeUs5Kp #OffshoreWind #JonesAct #SouthFork #VineyardWind #NetZero
The challenges of U.S. offshore wind and how they are being met face on - Spinergie Whitepaper
spinergie.com
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Last week, our Spinergie Offshore Wind Analyst, Yvan Gelbart published a white paper about the recent events that hit the US offshore wind market. By analyzing each US wind project, some interesting conclusions can be drawn, providing clear explanations on why some projects have been cancelled and which ones are still at risk. Do not hesitate to fall into it, to better understand the complexity and the potential of the US offshore wind market!
In 2023, the U.S. offshore wind market faced challenges such as supply chain issues, inflation, and project cancellations. Despite setbacks, some projects are progressing, and lessons learned are being applied to the industry's future. Our new white paper discusses these issues in detail: https://lnkd.in/eKeUs5Kp #OffshoreWind #JonesAct #SouthFork #VineyardWind #NetZero
The challenges of U.S. offshore wind and how they are being met face on - Spinergie Whitepaper
spinergie.com
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