Owners of offshore support vessels active in the renewable energy sector will benefit from significant growth in offshore windfarm construction and maintenance requirements in the long term.
The amount of energy generated by offshore wind turbines is expected to grow almost 10-fold in the next 10 years, to more than 200 GW by the end of the next decade.
This was forecast by 4C Offshore chief executive Chris Anderson at Riviera Maritime Media’s Annual Offshore Support Journal Conference, Awards and Exhibition in London.
“Growth will be dramatic worldwide as 172 GW of power is added in the next decade, with significant growth in China, Europe and some projects in the US, Taiwan, South Korea and potentially India,” said Mr Anderson. He expects 20% growth year-on-year in installed capacity.
There has already been huge growth in installed power capacity, from 2.6 GW in 2009 to 24 GW in January 2019. Mr Anderson said there are 6,130 turbines installed.
“There is 7.2 GW of power capacity under construction,” said Mr Anderson, mostly in China, UK, Germany, Denmark and Belgium.
Mid-term growth above this is expected to come in China, the UK, Denmark, Germany and the Netherlands. In the long term, there is potential for projects in Poland, the US, Taiwan, South Korea and India.
Owners of offshore windfarm construction and maintenance vessels will benefit significantly from these future projects.