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On 31 December 2019, the first of the three floating platforms
of the 25 MW WindFloat Atlantic project, developed by the
consortium led by EDP Renewables, was installed and started to
generate electricity a few days later. The three 8.4 MW MHI Vestas
wind turbines are the largest ever installed on a floating
structure. This major milestone followed Equinor's final investment
decision to build the 88 MW Hywind Tampen farm, and Shell's
acquisition of EOLFI. Backed by oil and gas companies and European
utilities, the industry seems ready to move on into the industrial
phase. However, the lack of consensus in terms of design and
standardization could inhibit a promising development.
Approximately 80% of potential offshore wind resources are in
waters deeper than 60 m, where the installation of conventional
gravity, monopile, tripod and jacket foundations is challenged. In
addition, floating technology enables to reach higher capacity
factors due to stronger winds farther from shore, providing more
consistent and predictable power generation. Thus, floating could
open an access to nearly 7 TW of additional offshore wind capacity
in new markets across Europe, the United States and Asia
Pacific.
Figure 1: Offshore wind potential by water depth versus
foundations track record
Currently, five floating concepts with different mooring system,
materials used, minimum required deployment depth, and the way
buoyancy is achieved are competing to become the industry standard.
Recent activities by large energy companies should accelerate this
industry choice. However, the pace of new developments will depend
on how quickly the industry agrees on the preferred designs and
moves on to the mass production phase.
IHS Markit closely monitors the offshore wind sector globally
and publishes data, key insights and market analysis. Learn more
about our offshore
wind research.
Andrei Utkin is a senior analyst with the Gas, Power,
and Energy Futures team at IHS Markit.
Posted 19 February 2020.
Posted 19 February 2020 by Andrei Utkin, Senior Associate, Climate and Sustainability Group, IHS Markit
