Bureau of Ocean Energy Management’s Post

International Renewable Energy Agency (IRENA) released a new report, "FLOATING OFFSHORE WIND OUTLOOK" for 2024. Highlights: - The global floating wind industry is still nascent, with around 270 megawatts of operational capacity as of 2023. - However, the global pipeline for new floating projects is 244 GW - G7 countries are increasingly scaling up national efforts to enhance their floating offshore wind capacities – with the United Kingdom, France, the United States and Japan among the most active countries - Key challenges are its limited operational scale and its high requirements for capital and operational expenditures (CAPEX/OPEX) compared to fixed-bottom offshore wind. - Nevertheless, the projected economies of scale are expected to make floating offshore wind competitive and commercially viable by 2035. Full report attached. Well done authors: Jaidev Dhavle Francisco Boshell Roland Roesch

The new era is here. Offshore wind is expected to be competitive near FY 2035. The capex/opex costs have always been a challenge in comparison to onshore wind.

International Renewable Energy Agency (IRENA) released a new report, "FLOATING OFFSHORE WIND OUTLOOK" for 2024. Highlights: - The global floating wind industry is still nascent, with around 270 megawatts of operational capacity as of 2023. - However, the global pipeline for new floating projects is 244 GW - G7 countries are increasingly scaling up national efforts to enhance their floating offshore wind capacities – with the United Kingdom, France, the United States and Japan among the most active countries - Key challenges are its limited operational scale and its high requirements for capital and operational expenditures (CAPEX/OPEX) compared to fixed-bottom offshore wind. - Nevertheless, the projected economies of scale are expected to make floating offshore wind competitive and commercially viable by 2035. Osama Fawzy Georgy HENEIN, MBA

The increasing competitiveness of renewable energy, along with enabling regulatory frameworks, are bolstering the business case for renewables to dominate the future power generation and end-use mix. However, a majority of the deployments are concentrated in China, the European Union (EU) and the United States, accounting for 75% of total capacity additions. The shift towards sustainable energy calls for a rapid expansion of renewable-based electricity generation. Offshore wind is increasingly becoming an attractive solution that several countries are exploring to accelerate their energy transition efforts. The floating foundation – or, more accurately, the floating sub-structure or floating platform – is the dynamic construct on which a floating offshore wind turbine is installed. The turbines themselves are the same as those used for fixed-bottom configurations. At distances far off the coast, and in deeper waters, it is necessary that floating foundations are strong enough to counteract the thrust and inertial forces of the wind turbine. The foundations must also minimise pitch motions, which will maximise the operational efficiency of the turbines.

The South Australian government has announced that the state will aim to reach its 100% renewables target by 2027 - three (3) years earlier than originally forecast, amid efforts to speed up de-carbonization. According to a planning report , wind and solar parks contribute more than 71% of South Australia’s electricity generation annually by 2023. And South Australia has achieved this purely on solar and wind power (VRE or variable renewable energy) that many sceptics had predicted impossible. There is neither hydropower nor coal power in South Australia! 👏 South Australia will bring forward its goal of meeting its entire power demand with power from renewable energy sources in view of the state’s new wind and solar developments and green hydrogen plans, according to the government.

Credit article to reNEWS - Renewable Energy News The German Federal Network Agency (BNetzA) has launched its latest tender for onshore wind energy, aiming to secure up to 4093MW in each of the next four procurement rounds. The additional volume comes from the quantities not allocated in the previous year. Bärbel Heidebroek, president of the Federal Wind Energy Association, said: "BNETZA has now provided clarity on the volumes of the next four onshore wind energy tenders. "This makes it clear that almost 15,000 MW can be put out to tender this year. "This should provide a strong motivation for the industry to continue to seek new approvals at high speed. #Europe #FederalNetworkAgency #FederalWindEnergyAssociation #Germany #OnshoreWind #QEDGroup #QEDEnergy #PrimeDispute

Credit article to reNEWS - Renewable Energy News The German Federal Network Agency (BNetzA) has launched its latest tender for onshore wind energy, aiming to secure up to 4093MW in each of the next four procurement rounds. The additional volume comes from the quantities not allocated in the previous year. Bärbel Heidebroek, president of the Federal Wind Energy Association, said: "BNETZA has now provided clarity on the volumes of the next four onshore wind energy tenders. "This makes it clear that almost 15,000 MW can be put out to tender this year. "This should provide a strong motivation for the industry to continue to seek new approvals at high speed. #Europe #FederalNetworkAgency #FederalWindEnergyAssociation #Germany #OnshoreWind #QEDGroup #QEDEnergy #PrimeDispute

3Degrees' Tyler Espinoza recently sat down with reNEWS - Renewable Energy News to discuss the state of European wind PPAs, noting: “A key dynamic at present in Europe, and globally, is that wind projects are in short supply. Most developers are building solar sites because they cost less to construct. That has been helped by the reduction in solar panel prices.” As highlighted in our recent European Market Insights Report, the surge in commodity prices and inflation following Russia’s invasion of Ukraine, coupled with permitting and grid hold-ups, has directly impacted the supply of wind deal offers across the continent. Read Tyler's interview and download our Market Report to learn more. Interview: https://lnkd.in/ekts-Tb3 European Market Insights Report: https://lnkd.in/eHNyAvmi

INDUSTRY NEWS: New Report Forecasts Global Wind Power Production Consulting firm EOLTECH recently published the results of a study focused on evaluating wind resource variations over the past 15 years, revealing that global wind power production demonstrates a high level of predictability. According to the findings, wind power production worldwide experiences annual variations that remain within a range of ± 3%. These conclusions are drawn from the Interstate Renewable Energy Council index, which encompasses 80% of the onshore wind farms installed globally by 2023. Read more via Energy Capital & Power: https://lnkd.in/dd7pttUH #windenergy #leadingwithwind #sawea #windreport

17 Energy and SC Power have announced plans for Chile's first offshore wind farm in the Biobío Region, which holds immense potential for offshore wind energy. The Viento Azul Biobio project aims for a capacity of 500-1,000 MW and could be operational in the 2030s, pending necessary approvals and permits. What impact do you think this project could have on Chile's energy sector? #OffshoreWind #Chile #RenewableEnergy