Global Offshore Wind Forum
(with special focus on the US market)
The potential for offshore wind power to grow rapidly into being a main engine of the global energy transition is well recognised, with the IEA among those forecasting 1.2TW of plant operating by mid century, by then an industrial market valued in the trillions of dollars.
On 2 November, join Recharge and thought leaders to discuss how the next wave of offshore wind could transform the trajectory of the international energy industry, with three dedicated sessions.
Promise is not power production, however. And how the sector scales up to this size of fleet worldwide from the current 35GW hinges to a great extent on the largest utilities and oil companies now putting their financial weight behind offshore wind’s build-out, from technology development through project execution to supply chain optimisation.
This size of the opportunity is matched only by the challenges ahead. Maiden US-flagged wind turbine installation vessels are just now being built to comply with Jones Act rules – will they be ready in time for the first wave of construction? The fisheries sector largely remains obstinately opposed to the building of the proposed network of offshore wind projects planned – why can’t they be won over by the economics of a ‘once in a generation’ chance to join a new, future-proofed industry? And onshore transmission infrastructure needs to be heavily beefed up to carry the coming gigawatts of power into the grid – how will be financed?
The offshore wind market in US waters is equal parts challenge and opportunity. US President Joe Biden has set a goal of producing 30 gigawatts of wind power by 2030, and that could lead to demand for three dozen vessels that cost between $100m and $450m. But the Jones Act cabotage law requires these vessels to be build at a US yard, owned by American companies and crewed by US seafarers. How will the America’s maritime sector build and finance so many vessels, and will offshore wind farm developers be able to deliver the projects to they are needed for. We’ll talk to shipowners, a shipbuilder, a wind farm operator and legal and regulatory experts to answer these questions and more.