Global Offshore Wind Energy Markets and Strategies, 2008-2020

Table of Contents

Section 1. Executive Summary

• 1.1 Europe Leads Global Offshore Market Toward Sustained Growth
  • Offshore enjoys mega-project scale advantage over onshore
  • Project pipeline moving industry toward GW size power stations
• 1.2 Utilities Stake Claims for Long Term Portfolio Additions
  • Utility, IPP pipelines tightly focused on UK, Germany
  • Niche developer players initiate projects for long-term utility/IPP ownership
• 1.3 Supply Side Critical to Market Take Off
  • OEMS aim to secure components for specialized offshore market
  • Vestas, Siemens lead turbine supply competitors emerging
  • New players scaling turbines to 5 MW

Section 2. Global Offshore Wind Market Environment

• Europe Offshore Evolving at Different Speeds as Market Environments Vary
• 2.1 Global Policy Trends
  • The EU Leads Climate Change Control Efforts and Drives the Renewables Bandwagon
  • European Markets Primarily Adopt Feed-in Tariffs, Quotas to Support Wind
  • US Renewable Energy Policy Comprised of State Initiative Patchwork
  • Canada Commits to Renewables Following Several Rounds of Policy Reviews
  • Concerns Over Security of Supply Drive Asia to Follow Europe on RES Regulation
• 2.2 Offshore Wind Market Environment Ranking Criteria
  • Wind Resources
  • Regulatory Support
  • Site Permitting
  • Grid Connection
  • Competition
• 2.3 Offshore Wind Market Ranking Results
  • Tier 1: Policy Provides Favorable Environment for Sustained Offshore Growth
  • Tier 2: Sporadic Project Activations in Medium Term Raise Hopes of Long-term Stability
  • Tier 3: Testing the Waters of Offshore Wind Through Pilot Projects
  • Tier 4: Early Signs of Activity Indicate Slow Development of New Offshore Markets

Section 3. Global Offshore Wind Power Markets, 2007-2020

• 3.1 Overview of Global Offshore Wind Markets
  • 3.1.1 Global Offshore Wind Power Markets, 2003-2007
  • 3.1.2 Global Offshore Wind Power Markets, 2007-2020
  • 3.1.3 Forecasted Trends in Wind Plant Size
• 3.2 Europe Offshore Wind Power Markets, 2007-2020
  • 3.2.1 Country Market Analysis of European Offshore Wind
    • The UK Transitions from Round 1 to Round 2 to Sustain Growth
    • Germany Prepares for Slow Lift-off
    • Sweden Staggers, Recovers to Become Top 3 Offshore Market
    • Denmark Moves Ahead with Tendered Capacity
    • Netherlands Challenged to Reach Offshore Goals Through Sporadic Activations
    • Belgium' s Large-Scale Projects Drive Growth
    • Ireland and France Slowly Advance Offshore Wind with Single Project Activations
    • Spain, Italy, Norway, and Poland Move Offshore Toward End of Forecast Period
  • 3.2.2 Wind Power Capacity Forecast Scenarios Europe
    • Wind Power Capacity Forecast Scenarios Europe: Base-Case
    • Wind Power Capacity Forecast Scenarios Europe: High-Growth
    • Wind Power Capacity Forecast Scenarios Europe: Low-Growth
• 3.3 North America Offshore Wind Power Markets, 2007-2020
  • 3.3.1 Country Market Analysis of North America Offshore Wind
    • US Takes First Offshore Steps with Hotly Debated Cape Wind Project
    • Canada' s Offshore Activity Awaiting PPAs, Environmental Impact Assessments
  • 3.3.2 Wind Power Capacity Forecast Scenarios North America
    • Wind Power Capacity Forecast Scenarios North America: Base-Case
    • Wind Power Capacity Forecast Scenarios North America: High-Growth
    • Wind Power Capacity Forecast Scenarios North America: Low-Growth
• 3.4 Asia Offshore Wind Power Markets, 2007-
  • 3.4.1 Country Market Analysis of Asia Offshore Wind
    • Chinese Offshore Awaits Development Local Skills and Technology
    • Offshore Key for Taiwanese Large-Scale Growth
    • South Korean Offshore Hinges on Success Pilot Project
  • 3.4.2 Wind Power Capacity Forecast Scenarios Asia
    • Wind Power Capacity Forecast Scenarios Asia: Base-Case
    • Wind Power Capacity Forecast Scenarios Asia: High-Growth
    • Wind Power Capacity Forecast Scenarios Asia: Low-Growth

Section 4. Competitive Trends in Offshore Wind Development

• 4.1 The Development Cycle
  • 4.1.1 The Offshore Permitting Process
    • Securing the Right to Develop an Offshore Site: Tender vs. Open Door
    • Navigating Through the Permitting Queue: Multiple vs. Single Window Consents Process
  • 4.1.2 Navigating the Development Process
    • Spectrum of Risks Requires Multiple Roles, Partners
• 4.2 Value Chain Positioning - Business Model
  • Utilities to Harness Scale to Dominate Offshore Wind
  • Small Group of Major IPPs Positioned for Offshore Competition
  • Developers Key on Value Chain as Project Initiators, Utility Partners
  • EPC Contractors and Technical Specialists Crucial to Execution
• 4.3 Market Share and Pipelines
  • 4.3.1 Global Offshore Wind Plant Ownership Trends
  • 4.3.2 Global Offshore Wind Pipeline Analysis
  • 4.3.3 Developer Pipeline Analysis
• 4.4 Offshore Wind Development Strategies
  • 4.4.1 Offshore Wind Utility Strategy Comparison
    • Utilities Compelled to Enter Offshore by Government Prompting
    • Utility Offshore M&A for Competitive Positioning
  • 4.4.2 Offshore Wind IPP Strategy Comparison
  • 4.4.3 Offshore Wind Developer Strategies
• 4.5 Utility Profiles
  • 4.5.1 Centrica
  • 4.5.2 DONG Energy
  • 4.5.3 EDF-EN
  • 4.5.4 Enel
  • 4.5.5 E.ON
  • 4.5.6 Essent
  • 4.5.7 Iberdrola-ScottishPower
  • 4.5.8 Nuon
  • 4.5.9 RWE
  • 4.5.10 Scottish and Southern
  • 4.5.11 Vattenfall
• 4.6 IPP Profiles
  • 4.6.1 Acciona
  • 4.6.2 Airtricity
  • 4.6.3 BARD Engineering
  • 4.6.4 Eurus
  • 4.6.5 FPL Energy
  • 4.6.6 Shell WindEnergy
  • 4.6.7 Talisman
  • 4.6.8 China National Offshore Oil Corporation
• 4.7 Developer Strategies
  • 4.7.1 AMEC
  • 4.7.2 Energiekontor
  • 4.7.3 Evelop
  • 4.7.4 GEO
  • 4.7.5 Plambeck Neue Energien
  • 4.7.6 Prokon Nord/Enertrag
  • 4.7.7 Renewable Energy Systems (RES)
  • 4.7.8 WPD
  • 4.7.9 Cape Wind
  • 4.7.10 Other Developers
    • Bluewater Wind
    • Eclipse Energy
    • Enova
    • Farm Energy
    • Projekt GmbH
    • Warwick Energy
    • Wind Prospect

Section 5. Competitive Trends in Offshore Wind Supply

• 5.1 Offshore Wind Turbine Vendor Analysis
  • 5.1.1 Offshore Turbine Product Strategies
  • 5.1.2 Offshore Turbine Sales Strategies
    • Teething Issues Aside, Vestas and Siemens Track Records Lead Industry
    • Wrapped EPC Attractive for Sales, Though Suppliers Seek Risk Reduction
    • Competition Intensifying with 5 MW Turbine Introduction
  • 5.1.3 Offshore Turbine Pricing Trends
• 5.2 Offshore Services Supply Chain Analysis
  • 5.2.1 EPC Contractors
    • Utility Players Honing Interface Risk
      • Management with Foundations, Cabling, and Turbines
  • 5.2.2 Vessels
    • Vessel Bottlenecks Loom Post-2011
  • 5.2.3 Foundations and Cables
    • Cables: Harnessing the Power of Wind
• 5.3 Turbine Component Supply Chain Analysis
• 5.4 Turbine Supplier Profiles
  • 5.4.1 BARD
  • 5.4.2 GE Energy
  • 5.4.3 Multibrid
  • 5.4.4 Nordex
  • 5.4.5 REpower/Suzlon
  • 5.4.6 Siemens
  • 5.4.7. Vestas
  • 5.4.8 Enercon
  • 5.4.9 Other Offshore Entrants

LIST OF EXHIBITS (Preliminary)

Section 1. Executive Summary

• 1-1: Offshore Wind Power Net Capacity Added by Region, 2007-2020 (MW)
• 1-2: European Offshore Wind Projects by Size, 2001-2007
• 1-3: Global Near-Term (2008-2015) Pipeline by Project Size
• 1-4: Global Offshore Installed Base Market Share
• 1-5: Utility and IPP Global Offshore Pipeline
• 1-6: Developer Offshore Pipeline Comparison, Split by Market and Project Maturity
• 1-7: Project Construction Value Chain
• 1-8: Offshore Turbine Component Supply Chain
• 1-9: Vendor Offshore Market Share
• 1-10: Offshore Wind Capacity Installed by Wind Turbine Size

Section 2. Global Offshore Wind Market Environment

• 2-1: Wind Energy and RES Targets
• 2-2: Offshore Wind Power Market Evaluation Components
• 2-3: Global Offshore Market Attractiveness: Ranking Overview

Section 3. Global Offshore Wind Market Forecasts

• 3-1: Wind Power Markets Summary, Offshore Wind Annual Installations (MW)
• 3-2: Offshore Wind Power Net Capacity Added by Region, 2007-2020 (MW)
• 3-3: Offshore Wind Power Capacity in Service by Region, 2007-2020 (MW)
• 3-4: European Offshore Wind Projects by Size, 2001-2007
• 3-5: Global Near-Term (2008-2015) Pipeline by Project Size
• 3-6: Europe Wind Power Capacity Total Installed by Country, 2000-2020
• 3-7: Europe Wind Power Capacity Net Additions by Country, 2007-2020
• 3-8: Europe Offshore Wind Power Annual Capacity Additions by Country, 2007-2020 (MW)
• 3-9: UK Offshore Pipeline, Select Project List
• 3-10: German Offshore Pipeline, Select Project List
• 3-11: Sweden Offshore Pipeline, Select Project List
• 3-12: Denmark Offshore Pipeline, Select Project List
• 3-13: Netherlands Offshore Pipeline, Select Project List
• 3-14: Belgium Offshore Pipeline, Select Project List
• 3-15: Ireland and France Offshore Pipeline, Select Project List
• 3-16: Spain, Norway, Poland, Italy Offshore Pipeline, Select Project List
• 3-17: Europe Total MW Installed Growth Scenario Comparison, 2007-2020
• 3-18: Europe Total Base-Case Scenario Forecasts, 2007-2020 (MW)
• 3-19: Europe Total High-Growth Scenario Forecasts, 2007-2020 (MW)
• 3-20: Europe Total Low-Growth Scenario Forecasts, 2007-2020 (MW)
• 3-21: North America Wind Power Capacity Total Installed Market Share by Country, 2011-2020
• 3-22: North America Offshore Wind Power Capacity, Total Installed, 2011-2020 (MW)
• 3-23: North America Wind Power Capacity Annual Installed by Country, 2011-2020
• 3-24: North America Total Offshore Wind Power Capacity, Annual Installed, 2011-2020 (MW)
• 3-25: US Offshore Pipeline, Select Near-Term Project List
• 3-26: Canada Offshore Pipeline, Near-Term Project List
• 3-27: North America Total MW Installed Growth Scenario Comparison, 2007-2020
• 3-28: North America Total Base-Case Scenario Forecasts, 2007-2020 (MW)
• 3-29: North America Total High-Growth Scenario Forecasts, 2007-2020 (MW)
• 3-30: North America Total Low-Growth Scenario Forecasts, 2007-2020 (MW)
• 3-31: Asia Total Offshore Wind Power Capacity Installed by Country, 2007-2020 (MW)
• 3-32: Asia Wind Power Capacity Net Additions Market Share by Country, 2007-2020
• 3-33: Asia Offshore Wind Power Capacity Annual Additions by Country, 2007-2020 (MW)
• 3-34: China Offshore Pipeline, Select Project List
• 3-35: South Korea Offshore Pipeline, Select Project List
• 3-36: Asia Total MW Installed Growth Scenario Comparison, 2007-2020
• 3-37: Asia Total Base-Case Scenario Forecasts, 2007-2020 (MW)
• 3-38: Asia Total High-Growth Scenario Forecasts, 2007-2020 (MW)
• 3-39: Asia Total Low-Growth Scenario Forecasts, 2007-2020 (MW)

Section 4. Competitive Trends in Offshore Wind Development

• 4-1: Offshore Permitting Process Key Steps by Market
• 4-2: Offshore Project Development Milestones and Risks
• 4-3: Offshore Wind Project Development Value Chain
• 4-4: Global Offshore Installed Base Market Share
• 4-5: Utility and IPP Global Offshore Pipeline
• 4-6: Developer Offshore Pipeline Comparison, Split by Market and Project Maturity
• 4-7: Offshore Wind Project Owner Strategy
• 4-8: Offshore Wind Developer Strategies
• 4-9: Centrica Offshore Wind Plants
• 4-10: Centrica Offshore Pipeline
• 4-11: DONG Offshore Wind Plants
• 4-12: DONG Offshore Pipeline
• 4-13: EDF Offshore Pipeline
• 4-14: Enel Offshore Pipeline
• 4-15: E.ON Offshore Wind Plants
• 4-16: E.ON Offshore Pipeline
• 4-17: Essent Offshore Wind Plants
• 4-18: Essent Offshore Pipeline
• 4-19: Iberdrola-ScottishPower Offshore Pipeline
• 4-20: Nuon Offshore Wind Plants
• 4-21: RWE Offshore Wind Plants
• 4-22: RWE Offshore Pipeline
• 4-23: Scottish and Southern Offshore Wind Plants
• 4-24: Scottish and Southern Offshore Pipeline
• 4-25: Vattenfall Offshore Wind Plants
• 4-26: Vattenfall Offshore Pipeline
• 4-27: Acciona Offshore Development Experience
• 4-28: Airtricity Offshore Pipeline
• 4-29: BARD Offshore Pipeline
• 4-30: Eurus Offshore Pipeline
• 4-31: FPL Offshore Pipeline
• 4-32: Shell Offshore Development Experience
• 4-33: Shell Offshore Pipeline
• 4-34: Talisman Offshore Development Experience
• 4-35: Talisman Offshore Pipeline
• 4-36: CNOOC Offshore Pipeline
• 4-37: AMEC Offshore Development Experience
• 4-38: AMEC Offshore Pipeline
• 4-39: Energiekontor Offshore Pipeline
• 4-40: Evelop Offshore Pipeline
• 4-41: Geo Offshore Pipeline
• 4-42: Plambeck Neue Energien Offshore Pipeline
• 4-43: Prokon Nord - Enertrag Offshore Pipeline
• 4-44: RES Offshore Pipeline
• 4-45: WPD Offshore Pipeline
• 4-46: Cape Wind Offshore Pipeline
• 4-47: Offshore Pipeline

Section 5. Competitive Trends in Offshore Wind Supply

• 5-1: Vendor Offshore Market Share
• 5-2: Offshore Wind Capacity Installed by Wind Turbine Model
• 5-3: Offshore Wind Capacity Installed by Wind Turbine Size
• 5-4: Key Contracts by Wind Turbine Model
• 5-5: Global Offshore Price per MW Installed, by Project, 2002-2007
• 5-6: Announced Offshore Project Cost Estimates/MW Installed, 2008-2011
• 5-7: Project Construction Value Chain
• 5-8: EPC Contractors Offshore Wind Experience
• 5-9: EPC Contractors Key Contracts
• 5-10: Installation Vessels/Platforms Track Record
• 5-11: Installation Vessels Key Contracts
• 5-12: Key Offshore Foundations Manufacturers
• 5-13: Key Offshore Cable Suppliers
• 5-14: Offshore Turbine Component Supply Relationships
• 5-15: Key Offshore Wind Ports, Europe
• 5-16: BARD Engineering Offshore Product Overview
• 5-17: BARD Engineering Key Contracts
• 5-18: GE Wind Offshore Experience
• 5-19: Multibrid Offshore Product Overview
• 5-20: Multibrid Key Contracts
• 5-21: Nordex Offshore Product Overview
• 5-22: Nordex Offshore Experience
• 5-23: Nordex Key Contracts
• 5-24: REpower 5M Production Plan
• 5-25: REpower Offshore Product Overview
• 5-26: REpower Offshore Experience
• 5-27: REpower Key Contracts
• 5-28: Siemens Offshore Product Overview
• 5-29: Siemens Offshore Experience
• 5-30: Siemens Key Contracts
• 5-31: Vestas Offshore Product Overview
• 5-32: Vestas Offshore Experience
• 5-33: Vestas Key Contracts
• 5-34: Enercon Offshore Product Overview
• 5-35: WinWinD Offshore Product Overview
• 5-36: Key Offshore Contract