As we enter a New Year, the memories of the shocks to the foundations to the U.S. offshore wind segment remain fresh. In short, supply chain inflation and capacity/availability, interest rate increases, and tax credit monetization have been…
The U.S. Maritime Administration (MARAD) has recently announced an amendment to the Federal Ship Financing Program, commonly referred to as Title XI. The amendments have aligned the program’s financial requirements and tests with common current federal credit and maritime lending best practices…
Despite short-term obstacles driven by high inflation and interest rates coupled with supply chain issues, we maintain that the foundations supporting long-term offshore wind activity remain solid. As we prepare for the new year, let us look…
The U.S. offshore wind market presents a $1 billion long-term opportunity to builders of crew transfer vessels (CTV) and service operation vessels (SOV) that will support both wind farm construction and long-term operations and maintenance.…
Global floating wind capacity will have grown from less than 200 MW at the end of 2022 to around 61 GW of grid connected capacity by 2035. This activity will require over $250 billion in capital expenditure. Over 75% of the forecast activity is expected to come from four countries…
Much has been written recently about the challenges facing U.S. offshore wind projects, resulting in requests to terminate or renegotiate contracts to sell power to states. Examples of these challenges can be found from Massachusetts to Virginia…
Only one of three available areas was sold during the United States' first ever offshore wind lease sale in the Gulf of Mexico on Tuesday.The auction, held by the Interior Department's Bureau of Ocean Energy Management (BOEM) offered up three sites for offshore wind development…
A fleet of newbuild specialized anchor handlers will be required to help build up the emerging floating offshore wind industry. But since the industry is still in its early days, many unknowns have made it difficult for shipyards and their partners to gear up to build this fleet…
The energy transition is moving ahead amid recovery in offshore oil & gas and growth in offshore wind, leaving vessel owners that serve these markets with big questions about energy carrier and energy converter selection for their newbuilds…
Tens of gigawatts of floating wind projects are slated for development in this and the next decade, but many obstacles remain.There has been much focus on the emerging floating wind market of late.The U.K. is forging ahead with commercial scale…
Tens of gigawatts of floating wind projects are slated for development in this and the next decade, but many obstacles remain.There has been much focus on the emerging floating wind market of late.The U.K. is forging ahead with commercial scale…
A number of recent actions in the United States will better position the nation to meet its short- and long-term offshore wind energy targets, as outlined in the April 2023 U.S. Offshore Wind Report from Intelatus Global Partners.April brings with it the news that the U…
As we move into March, we note both positive and negative trends developing in the U.S. offshore wind segment.As an indication of the long-term sustainability of the offshore wind industry in the United States, federal agencies are finalizing…
February will be a month of contrasts for U.S. offshore wind industry. On the positive side, BOEM is moving forward with lease negotiations for an East Coast floating wind pilot array, and six developers submitted over 100 proposals in response to New York’s third offshore wind solicitation…
$3 billion forecast to be invested in new anchor handlers to meet floating wind demand.Floating wind is an emerging technology. Currently being tested in small scale demonstration and pilot projects, global floating wind commissioned capacity at the end of 2022 was less than 200 MW…
Subscribe
