By Brice Bouffard, Acteon
Thomas Edison said, "Genius is 1% inspiration, 99% perspiration," and offshore wind has no shortage of either.
In the last two years alone, global offshore wind capacity passed 83 GW, the Seagreen Offshore Wind Farm off the coast of Scotland installed the world’s deepest turbine foundation at 58.6 m and Green Volt floating wind received key development milestones positioning it as the largest commercial-scale development to date.
The industry has proven what is technically possible, and developers have worked meticulously to get the sector there. The next challenge and opportunity is to ensure that policy targets and engineering achievements are matched by coordinated delivery that turns vision into megawatts. In an auction- and CfD-driven market, project schedules remain the linchpin of competitiveness.
Staying competitive
Much of the 99% is already underway long before construction—in the planning, engineering and integration work that sets projects up for success. As project sizes grow and auction margins tighten, supply chains are under strain.
Just this year, the sector has seen Orsted cancel Hornsea 4, citing escalating costs, interest rates and execution risk, and Germany’s latest offshore wind tender received no bids due to cost and risk concerns. While these factors have made delivery more complex, they’ve also sharpened the industry’s focus on execution excellence. But competitive advantage is significantly influenced in the months and years that follow on the critical path.