Global Offshore Wind Energy to Power 60 Major Cities by 2020

ODS-Petrodata today announces the release of the International Offshore Wind Market Report: 2010-2020. This report presents key demand and supply information and draws conclusions about how wind power market will evolve over the next decade, including the forecast that global offshore wind farm market capacity could reach 59.8 GW " enough to power 60 major cities " within the decade.

An extensive update to the previous edition, the International Offshore Wind Market Report: 2010-2020 draws on information gathered from project managers, vessel owners, and other major contractors, in addition to around 1,100 wind farm projects and potential projects in the ODS-Petrodata global offshore wind farm database.

ODS-Petrodata predicts a total 2011-2020 market value of EUR 156.1 billion, with the annual wind turbine installation rate expected to reach 5.9 GW by 2015, and for more than 14,500 wind turbines to be installed by 2020.

Several key observations contribute to these expectations for market expansion. For instance, in the new operations and maintenance section of the report, ODS-Petrodata reviews the emergence of third-party service providers, which was spurred by an indication of an anticipated lifetime operational expenditure of around 75 percent of the up-front capital expenditure for a typical European offshore wind farm.

The ODS-Petrodata team improves the turbines section to review issues such as the effects of the push to increase wind turbine reliability and how this movement is promoting the development of direct drive wind turbines to replace gearbox turbines.

Based on vessels already contracted for construction, the team estimates the turbine installation fleet may expand by 77 percent by the end of 2012; however, this figure could rise to 91 percent if all vessel options and expected contracts are exercised or signed by the end of 2010.

This unparalleled report outpaces other available resources in accuracy of information and depth of coverage by providing global data all the way up to the year 2020 and including two vessel appendices. Areas of coverage in the report include: demand analysis and trends, supply analysis and trends, cost and competitive analyses, national incentive schemes, national regulatory regimes and country information, vessel productivity, vessel specification and work history, and much more. This is the only offshore wind report available today boasting all of these features.