Aegir Insights’ Post

Read the statement from Offshore Wind California’s executive director, Adam Stern, on the release by the California Energy Commission of the state’s final AB 525 strategic plan to advance California offshore wind—June 25, 2024.  Said Mr. Stern, “We commend the California Energy Commission (CEC) and other state agencies for releasing their final strategic plan to deploy California offshore wind at scale, as directed by the landmark AB 525 law signed by Gov. Newsom in 2021. This comprehensive strategic plan marks a watershed moment in California’s course and commitment to go big on offshore wind, and achieve its nation-leading goal of deploying 25 gigawatts (GW) by 2045. We look forward to the Commission giving its final approval to the plan and proceeding with the essential next steps to responsibly deploy this remarkable renewable energy resource off the state’s coast… Since releasing the draft strategic plan in January, the Commission and staff have worked to refine and improve its details with input from industry experts and other key stakeholders… The CEC’s determination and direction has been clear, and the results have been worth the wait. We thank all who have been engaged in this effort. Our challenge and opportunity now is to make it a reality...” See the full OWC statement below and at this link:   https://lnkd.in/e-g6pv47 See the three volumes of the CEC’s final AB 525 strategic plan at this link: https://lnkd.in/g99xecX9 #offshorewind #floatingwind #cleanenergy #renewables #climate #offshorewindca #pacificoffshorewindsummit

𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟎𝟑𝟐) 𝐆𝐞𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐃𝐅: https://lnkd.in/duebjd3n                        The market is surging due to rising energy #demand, #technological advancements, government #support, and #environmental concerns. Expanding offshore wind projects and favorable policies contribute to market #growth. Offshore wind power market plays a significant role in achieving the renewable target in most of the countries around the world. Countries around the world are formulating rules and regulations to make offshore wind power a much feasible option for the clean source of energy. The global offshore wind power market size was valued at 23 GW in 2018 and is projected to reach 293.00 GW by 2032, exhibiting a CAGR of 19.16% during the forecast period of 2019-2032. 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧𝐬 By Installation ·       Fixed Structure ·       Floating Structure By Water Depth ·       Up to 30m ·       Above 30m By Capacity ·       Up to 3MW ·       3MW to 5MW ·       Above 5MW #RenewableEnergy #WindPower #SustainableFuture #WindTurbines #OffshoreRenewables

Don’t miss this Sunday’s #Beaufort, Aegir Insights' weekly offshore energy intelligence newsletter: 🔹Deep Dive: CorPower Ocean CEO and wave energy pioneer Patrik Möller tells Darius Snieckus how hybrid offshore clean power complexes could ‘soon be a huge thing’ off Europe 🔹 Auction Notebook: After the developer no-show in the #UK's autumn offshore wind auction, the government hopes a higher strike-price will re-accelerate plans to have a target 50 GW installed by 2030, writes Maria Holm Bohsen   🔹Opinion from Aegir Insights’ CEO Scott Urquhart: ‘16GW by 2030? Floating wind needs an overdue reality-check or it could be scuppered’ 🔹Plus Aegir’s analysts' bulletins on latest key market news ....and more! Sign up here to receive this next issue of Beaufort: https://lnkd.in/eevHfy9d #offshorewind #offshoreenergy #energytransition #renewableenergy #floatingwind #auctionintelligence

🌊 In our latest blog, 'Investing in the Breeze: The Economic Potential of Offshore Wind Energy', we explore how the offshore wind sector isn’t just about harnessing the power of the wind; it's about unlocking a sea of economic opportunities. The global offshore wind industry is booming, and with that comes investment, which not only benefits the environment but also the economy, promising job growth, technological progress, and enhanced energy security. Add to the mix the development of more efficient turbines and floating technologies, and 2024 will see some major changes for the offshore wind industry as governments update policies and targets to match the sector's fast growth. You can read the full article here: https://bit.ly/43guD9N #OffshoreWindIndustry #OffshoreWindFarms #OffshoreWindEnergy

How does the advancement of the UK’s offshore wind sector tip the scale in favour of the global and UK energy transition? And what does it still take to get there? Phil Combes, Ramboll Head of Offshore Wind Engineering UK & Ireland, explains the key advantages offshore wind contributes to achieving a lower carbon future and why it is vital that we address the current challenges. “According to the International Energy Agency (IEA), offshore wind could generate more than 18 times the current global electricity demand, provided governments and industry work together to accelerate its deployment”, Phil wrote in his article in Energy Global magazine. Adding “Offshore wind offers a high potential, low carbon energy source, along with major additional benefits, making it a critical technology for the global and UK energy transition. But if this potential is to be realised, the challenges facing the industry – including regulatory uncertainty, grid integration, and supply chain bottlenecks – will need to be overcome”. Looking ahead, Phil remains optimistic whilst proposing practical solutions to facilitate the development of the offshore wind industry and help close the gap on decarbonisation, including the generation of a dedicated offshore wind industrial strategy in the UK. Read the full article in the summer edition of Energy Global magazine. #LetsClosetheGap #Sustainability #Decarbonisation #NetZero #OffshoreWindEnergy Photo credits: Adam le Grice

Some reflections on the offshore wind industry, its potential and its challenges published today in Energy Global. Hot topics: 💡 regulation and policy landscape 💡 supply chain constraints 💡 grid integration 💡 community engagement An idea for the next government: an updated Offshore Wind Industrial Strategy that grapples with the current challenges faced, and is honest and ambitious about what's needed to extract the massive potential of offshore wind in the UK. 🔊 CC Kier Starmer... #offshorewind #ramboll #netzero #climatechange #industrialstrategy

Iberdrola's offshore wind 'megaproject' receives first authorization from the Biden Administration #windenergy #offshoreWind #energytransition #renewableenergy #electricalpower #power #renovables #windpower #decarbonization #sostenibilidad #energy #environmental #future #innovation The New England's new offshore wind farm, consisting of New England Wind 1 and New England Wind 2, could together provide up to 2 GW of installed capacity of clean energy. Located in Massachusetts, it will create up to 9,200 full-time jobs during all phases of the project and bring $8 billion in direct investments to the region. New England Wind 1 is exceptionally advanced for commissioning and, if finally selected, the project, which would be located about 50 kilometres south of Barnstable, Massachusetts, could begin construction in 2025. The Federal Register of Decision ( ROD) together with the Approval of the Construction and Operations Plan (COP), scheduled for 2024, is an important milestone in obtaining permits for the construction of the future park. ER - April 3, 2024 Celia García-Ceca

I was excited to sit down with Offshore magazine to discuss outlook for the offshore wind industry. Increasing interest rates and raw material costs have negatively impacted offshore wind projects. However, offshore wind remains integral in achieving a clean energy mix in many places. Based on our modeling and due to its baseload-like and complementary profile, offshore wind can actually reduce average electricity cost of a decarbonized power system as it decreases the need to overbuild other technologies to ensure 24/7 clean power. Many thanks to Alexander Weiss, Humayun Tai, Alberto Bettoli, Florian Kühn, Andreas Schlosser, Christian Staudt and Sverre Akersveen who co-lead our research as part of the #McKinseyOffshoreWindHub

⚡ Top Trends in Offshore Wind | U.S. Department of Energy Discover more at "voltsbase.com/energy" #Energy #Voltsbase

Great reaction post-conference to my presentation last week at ACP: "Energy production growth expectations for US offshore wind”- I'm happy to share the slides for those who are interested! This was a research topic that has grown into a prologue for some new services relating to predictive analysis of energy and revenue generation for offshore wind projects. If you can talk about energy production of offshore wind projects interchangeably with “capacity” then you have a narrative of so many more end-user factors that offshore wind build-out has an influence on. If you’re planning grid and infrastructure projects, looking to take equity in a developing offshore wind project or portfolio, or looking to understand the price fluctuations in electricity market as offshore windfarms are built en-masse- then you need to understand the energy production of many offshore wind projects together, and how that will evolve year on year and day by day. Message me or like this post if you’d like a copy of the slides or to find out more about this project. #ACPOffshore23 #TGS #OffshoreWind #4COffshore #EnergyProduction