Floating Offshore Wind Sector Promises Global Opportunities for Subsea Industry
Subsea companies can find out how to leverage the opportunities in the multi-billion pound Floating Offshore Wind (FOW) sector through a three-part webinar series organized by Subsea UK and the Offshore Renewable Energy (ORE) Catapult’s Floating Offshore Wind Centre of Excellence (FOW CoE), beginning this month (9th March).
Subsea UK is encouraging underwater engineering companies to capitalise on the “massive” global potential in FOW following recent developments. UK Government has set a target of one gigawatt (GW) of floating wind capacity by 2030, the EU is aiming to have 100-150 GW by 2050 and new research from Wood Mackenzie states the FOW market in Asia Pacific could offer investment opportunities worth up to $58 billion.
Hosted by Subsea UK in conjunction with ORE Catapult, the UK’s leading technology innovation and research centre for offshore renewable energy, the first online event on Tuesday, March 9, will reveal the projected growth of the FOW industry globally.
Experts from ORE Catapult’s team will explore FOW deployment targets, provide an overview of the £2m FOW CoE’s objectives, work programme and supply chain development activities, including relevant opportunities for the subsea sector relating to dynamic cables and ancillary systems and mooring and anchoring systems.
Guest speaker Alexander Fløtre from Rystad will forecast demand for offshore wind cables driven by floating wind, helping potential suppliers assess the scale of opportunity in the FOW cable sector.
Neil Gordon, chief executive of Subsea UK said: “The UK’s subsea sector is ideally placed to leverage its vast underwater sectoral experience to segue seamlessly into supporting floating offshore wind and play an integral part of its future. Floating offshore wind has the potential to be a massive industry on a global scale and there are very real opportunities for the subsea sector to grasp in this exciting, emerging market.
“This initial webinar provides an overview of the industry for our participants, concentrating on the predicted FOW deployment rates until 2050, the size of opportunity for the supply chain and how to engage with work on mooring and anchoring systems and dynamic cables. We’ll be supplementing this session with two subsequent webinars that highlight critical subsea components in floating offshore wind, with lots of practical advice on how delegates can get involved in this game-changing space.”
Ellen Jump, Project Engineer for ORE Catapult, who will be presenting as part of the webinar series, said: “The UK has world-renowned expertise in subsea engineering, including in areas directly relevant to floating offshore wind, such as mooring and anchoring systems and dynamic cable and ancillary systems. These two areas are among a number, identified by FOW CoE partners, particularly in the context of their deployment in UK projects, which present some unique challenges. Two ongoing FOW CoE projects will not only increase the floating wind industry’s understanding of the technical requirements for these systems for UK projects, but also inform the supply chain of the required capability and capacity to deliver these systems at the scale and volume floating offshore wind will require.
It’s key that the FOW industry utilizes and builds upon the existing knowledge and experience within the UK subsea sector, and that the supply chain begins to gear up now in order to be ready to deliver the scale of components and installation expertise required for the future – both here in the UK and globally. These webinars will outline the opportunities for the supply chain in coming years and guidance on how they can engage with the FOW CoE’s activities.”
The webinar, which takes place on March 9th, 2021 from 15:30 - 17:00, is free to attend. For information on how to register, click here.