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Giles Dickson

CEO, WindEurope

March 2017

Image: Navantia

Source: The Crown Estate

Project Name Capacity Country

Hywind Scotland 30 MW Scotland

WindFloat Atlantic 30 MW Portugal

Kincardine 48 MW Scotland

Dounreay Tri 30 MW Scotland

French Demonstrators 4 x 25 MW France

Fukushima Forward III 100 MW Japan

Source: EMODNET

0-50

50-150

150-450

Country/RegionShare of offshore wind resource in +60m depth

Potential for floating wind capacity

Europe 80% 4,000 GW

USA 60% 2,450 GW

Japan 80% 500 GW

Taiwan - 90 GW

Source: Carbon Trust, MOFA

Source: IEA Wind

Source: Windyty

Fixed-bottom installations Floating wind installations

Vessel Day rate (€) Vessel Day rate (€)

Heavy lift vessel

150-500k Standard tug 30-60k

Jack up vessel 150-200kAnchor handling

tug20-50k

Mobilisation Several M€ Mobilisation <100k

Source: Carbon Trust

Image: Principle Power

Source: TKI Wind Op Zee

1.1%

1.1%

1.5%

1.7%

1.9%

2.3%

2.4%

2.7%

2.7%

3.2%

3.2%

3.6%

7.0%

Efficient foundation design

Monopile installation

66kV cables

Integrated design

Drive train concepts

Layout modelling

Standard substation

Controls

Monopile + TP integration

XL monopiles

Increased design life

Blade design & manufacturing

Rated Power

Technology

1.1%

1.7%

2.1%

2.1%

2.4%

5.2%

5.5%

Contract form

Learning by doing

Horizontal cooperation

Asset Sweating

Construction time

Vertical collaboration

EU competition

Market & Supply Chain

1.6%

3.0%

5.0%

5.0%

Operation period

Decrease WACC

Decrease cost of Equity

Decrease cost of Debt

Finance

There are many common cost reduction areas with bottom-fixed offshore wind

Potential for cost reduction in offshore wind

Image: The Crown Estate

• Identical components outside of platform and mooring

• Similar economies of scale when implemented commercially

• Opportunities to take advantage of explored sites deemed non-viable for bottom fixed• E.g. Irish Sea site

The offshore wind industry needs at least 4GW/yr to maintain investments that lead to full competitiveness as well as help the EU meet its 2030 commitments – floating has a role to play in securing this future

The offshore wind industry needs at least 4GW/yr to maintain investments that lead to full competitiveness as well as help the EU meet its 2030 commitments – floating has a role to play in securing this future

Image: Ideol

WindEurope, Rue d’Arlon 801040 Brussels, Belgium

windeurope.org

WindEurope, Rue d’Arlon 801040 Brussels, Belgium

windeurope.org