Offshore Wind Energy Market, By Foundation (Floating and Bottom Founded), By Component (Turbine, Substructure, and Others), By Location (Shallow Water, Transitional Water, and Deep Water), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Feb 2024

Code : CMI1417

Pages :121

Formats :

Excel and PDF

Industry : Energy

Market News

Recent Developments:

New Product launches:

In October 2021, Ørsted AS and Jan De Nul Group announced the signing of the final contract for the transport and installation of 107 monopile foundations and one offshore substation topside at the Gode Wind 3 and Borkum Riffgrund 3 offshore wind farms. The transport and installation are likely to start in 2023. Ørsted AS is a leading clean energy company that develops, constructs, and operates renewable projects, including wind and solar farms, battery storage, and hydrogen facilities.
In May 2021, Hecate Independent Power Limited , a U.S.-based renewable power project company, introduced its Hecate Independent Power Limited Atlantic Project to deploy about 10 GW of floating and fixed wind power in the North Atlantic, U.K. The project with a total expenditure of around US$ 30 Bn or GBP 21 Bn is projected to connect offshore farms with the national grid network. Hecate Independent Power Limited (HIP) is a joint venture between Hecate Wind LLC (Hecate) and UK-based Independent Power Corporation PLC. The company was formed to develop the HIP Atlantic Project, which aims to install 10 GW of offshore wind capacity in the North Atlantic Ocean, with the power being dispatched to the UK through high-voltage direct current (HVDC) submarine power transmission cables.
In April 2021, Siemens Gamesa Renewable Energy SA secured a firm order to supply turbines for the 1.4 GW Sofia Offshore Wind Farm set in the North Sea. A total of 100 turbines are set to be deployed in the project, and this is the first time that SGRE has installed its 0.014GW Direct Drive offshore wind turbines.

Mergers and Acquisition:

In February 1, 2021, Mitsubishi Heavy Industries, Ltd. acquired 2.5% of Vestas and was nominated to a seat on the company's board of directors. The transaction was valued at approximately US$ 0.70 Bn. Mitsubishi Heavy Industries, Ltd. (MHI) is a global industrial and engineering company.