The European Offshore Wind Industry - Key Trends and Statistics 2014
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The European offshore wind industry - key trends and statistics 2014 January 2015 A report by the European Wind Energy Association Contents Contents Executive summary 3 Annual market in 2014 4 Cumulative market 10 Market outlook for 2015 and 2016 14 Trends: turbines, water depth and distance to shore 16 Financing 19 Annual investment in offshore wind farms 24 If you have a query on the distribution or reproduction of this report, please contact Oliver Joy at EWEA at [email protected]. Contributors: Author and Statistical analysis: Giorgio Corbetta (European Wind Energy Association, EWEA) and Ariola Mbistrova (EWEA) Contributing author: Andrew Ho (EWEA) Contributing author: Jérôme Guillet (Green Giraffe Energy Bankers) Co-ordinating author: Iván Pineda (EWEA) Review: Justin Wilkes (EWEA) Cover: Siemens The European offshore wind industry - key trends and statistics 2014 2 Executive summary Executive summary Offshore wind power • 408 new offshore wind turbines in nine wind farms and one demonstration market in 2014 project, worth between €4.2 billion and €5.9 billion, were fully grid connected between 1 January and 31 December 2014. The new capacity totals 1,483.3 MW - 5.34% less than in 2013; • 536 turbines were erected during 2014, an average of 5.9 MW per day. 373 of these turbines are awaiting grid connection; • Work is on-going on 12 projects. Cumulative offshore wind • 2,488 turbines are now installed and grid connected, making a cumulative to- power market tal of 8,045.3 MW in 74 wind farms in 11 European countries; • 78.8% of substructures are monopiles, 10.4% are gravity foundations, jack- ets account for 4.7%, tripods account for 4.1%, and tripiles account for 1.9%; • There are also two full-scale grid-connected floating turbines. Market outlook for 2015 • Once completed, the 12 offshore projects currently under construction will and 2016 increase installed capacity by a further 2.9 GW, bringing the cumulative capacity in Europe to 10.9 GW. Trends: • The average offshore wind turbine size was 3.7 MW, slightly less than in turbines, foundations, 2013 due to the increased proportion of installation of the Siemens 3.6 MW water depth and distance wind turbines; to shore • The average size of a grid-connected offshore wind farm in 2014 was 368 MW, 24.1% less than the previous year. This is the result of the 2013 completion of the record breaking London Array (630 MW); • The average water depth of wind farms completed, or partially completed, in 2014 was 22.4 metres (m) and the average distance to shore was 32.9 km. Financing highlights and • Project finance is increasingly becoming an important tool in financing developments offshore wind. The industry raised €3.14 billion of non-recourse debt in 2014 – the highest ever level reached in the industry; • Nearly half of the final investment decisions made in 2014 were billion-euro projects, in total 2,323 MW of new gross capacity was financed; • Partnerships are becoming a key to success, and as liquidity is back in the financial markets, developers will be more likely to align their interests with those of potential investors. The European offshore wind industry - key trends and statistics 2014 3 Annual market in 2014 Annual market in 2014 Offshore wind installations During 2014, work was carried out on 17 offshore wind • Work has started but no turbines are yet connected farms in Europe. in seven other wind farms. • Four utility-scale wind farms were completed. One demonstration project (Methil) also went online; • Work continued in five other wind farms where several wind turbines were erected and connected; TABLE 1: SUMMARY OF WORK CARRIED OUT AT EUROPEAN OFFSHORE WIND FARMS DURING 2014 Wind farm name Country Status Meerwind Sud/Ost Germany Fully grid connected Methil Demo (Energy Park Fife) United Kingdom Fully grid connected Northwind Belgium Fully grid connected Riffgat Germany Fully grid connected West of Duddon Sands United Kingdom Fully grid connected Dan Tysk Germany Partially completed Global Tech 1 Germany Partially completed Gwynt y Môr United Kingdom Partially completed Nordsee Ost Germany Partially completed Westermost Rough United Kingdom Partially completed Baltic 2 Germany Turbines installed Borkum Riffgrund I Germany Turbines installed Butendiek Germany Turbines installed Humber Gateway United Kingdom Turbines installed Trianel Windpark Borkum Germany Turbines installed Amrumbank West Germany Foundations installed Luchterduinen Netherlands Foundations installed The European offshore wind industry - key trends and statistics 2014 4 Annual market in 2014 FIG 1: SHARE OF ANNUAL OFFSHORE WIND CAPACITY Belgium INSTALLATIONS PER COUNTRY (MW) 141 9.5% Germany UK 528.9 813.4 35.7% 54.8% TABLE 2: NUMBER OF TURBINES AND MW FULLY CONNECTED TO THE GRID DURING 2014 PER COUNTRY (MW) Country Belgium Germany UK No. of farms 1 5 4 No. of turbines connected 47 142 219 MW connected to the grid 141 528.9 813.4 FIG 2: SEA BASIN SHARE OF 2014 ANNUAL INSTALLATIONS (MW) Of the total 1,483.3 MW connected in European waters, North Sea 50.7% were in the Atlantic Ocean , and 49.3% were locat- 730.9 ed in the North Sea. 49.3% Atlantic Ocean 752.4 50.7% Annual market share in 2014 - wind turbine manufacturers Senvion 12.3 FIG 3: WIND TURBINE MANUFACTURERS’ SHARE OF 2014 0.8% ANNUAL INSTALLATIONS (MW) Areva Samsung 45 7.0 3% 0.5% Siemens continues to be the top offshore wind turbine MHI Vestas supplier in terms of annual installations. With 1,278 141 9.5% MW of new capacity connected, Siemens accounts for 86.2% of the market. MHI Vestas (141 MW, 9.5%), Are- va (45 MW, 3%) and Senvion (12.3 MW, 0.8%) are the Siemens other turbine manufacturers who had turbines grid con- 1,278 86.2% nected in full-scale wind farms during 2014. Samsung connected its demonstration turbine to the grid in Fife, UK (7 MW, 0.5%). The European offshore wind industry - key trends and statistics 2014 5 Annual market in 2014 Senvion 2 FIG 4: WIND TURBINE MANUFACTURERS’ SHARE OF 2014 0.5% ANNUAL INSTALLATIONS IN TERMS OF UNITS CONNECTED Areva Samsung 9 1 2.2% 0.2% Similarly, in terms of units connected, Siemens remains MHI at the top with 340 3.6 MW turbines and nine 6 MW off- Vestas 47 shore wind turbines (85.5% of connected wind turbines) 11.5% connected in European waters during 2014. Siemens is followed by MHI Vestas which connected 47 3 MW tur- bines (11.5%), Areva (nine turbines of 5 MW, 2.2%) and Siemens 349 Senvion (two turbines of 6.15 MW, 0.5%). Samsung, 85.5% connected one demonstration turbine of 7 MW. Annual market share in 2014 - wind farm developers/owners2 FIG 5: DEVELOPERS’ SHARE OF 2014 ANNUAL INSTALLATIONS (MW) WindMW was the largest developer in the European off- shore sector in 2014 with 19.4% of total connections. Combined with RWE (14.1%), DONG Energy (14%), Iberdrola (12.1%) and Stadtwerke Munchen (11.2%), the top five developers added 70.8% of the capacity that went online during 2014. Enova 10.8 , 0.7% EGL Renewable Luxembourg 10.8, 0.7% Samsung Heavy Industry 7, 0.5% HEAG Sudhessische Energy 11.2, 0.8% Esportes Offshore Beteiligungs 4.5, 0.3% Marubeni 13.5, 0.9% Northerland Projekt 3.6, 0.2% Green Investment Bank 13.5, 0.9% Vattenfall 38.6, 2.6% Windreich 3.6, 0.2% UK Green Investment Bank 39.2, 2.6% Siemens 39.2, 2.6% Sumitomo 47, 3.2% WIndMW 288 Colruyt Group (Parkwind) 47, 3.2% 19.4% Aspiravi Offshore 47, 3.2% EWE AG RWE 97.2 208.5 14.1% 6.6%, Stadtwerke Munchen 166 DONG Energy 11.2% 207 Iberdrola 14% 180 12.1% 2 The grid-connected market shares are indicative only. Projects owned or developed by several companies have been split according to the respective shares. Where the shares are not known, they have been split in equal parts between the partners. The European offshore wind industry - key trends and statistics 2014 6 Annual market in 2014 Annual market share in 2014 - substructures Tripod FIG 6: FOUNDATION TYPES’ SHARE OF 2014 ANNUAL MARKET IN 4 TERMS OF UNITS 0.9% Jacket Monopile substructures remained the most popular 36 8.1% substructure type in 2014 with 406 installed (91%). 36 jacket foundations were also installed, represent- ing 8.1% of all newly installed substructures, followed by tripods (0.9%). Monopile 406 91% FIG 7: SHARE OF FOUNDATIONS INSTALLED IN 2014 BY Aker Verdal AS Siag MANUFACTURING COMPANY3 IN TERMS OF UNITS 7 4 1.6% 0.9% Foundations installed in 2014 were supplied by six companies: Bladt (195 foundations, 43.7%) followed Smulders by Sif (111 foundations, 24.9%), EEW (80 foundations, 49 11% 17.9%), Smulders (49 foundations, 11%) Aker Verdal (seven foundations, 1.6%) and Siag (four foundations, EEW Bladt 0.9%). 80 195 17.9% 43.7% Sif 111 24.9% 3 The shares are calculated according to the actual number of individual foundations installed in 2014. When the project developer contracted more than one company to manufacture the foundations and respective roles and shares (in case of consortia or joint ventures) were not specified, foundations installed were split in equal parts between the partners. The European offshore wind industry - key trends and statistics 2014 7 Annual market in 2014 Annual market share in 2014 - cables FIG 8: SHARE OF INTER-ARRAY CABLE SUPPLIERS TO OFFSHORE WIND FARMS IN 2014 (NO. OF CABLES)4 NSW ABB 9 2 2.2% 0.5% In 2014, 139 inter-array cables manufactured by Nex- ans were energised, representing the largest market share at 34.2%.