Context
Spinergie’s client, an offshore wind developer, has an extensive portfolio of offshore wind farm projects, both as a developer and partner, in various regions including Europe, the USA, and Asia. With an additional 20 projects in development, they were in need of a comprehensive analysis of the technology used in fixed foundations within the offshore wind market.
By gaining a deeper understanding of fixed foundations, the client was better equipped to make informed decisions and effectively navigate the challenges posed by the tightening supply of installation vessels.
Challenge
The study focused on the five leading foundation technologies: monopiles, TP-less monopiles, gravity-based structures, jackets and suction bucket jackets. It was important for the client to understand market trends around each type of foundation and its impact on the supply of installation vessels, as only some vessels can install each type.
While some wind farm sites will be restricted in the type of foundation that can be used, due to soil type etc., other sites will provide developers with more freedom to choose. Therefore, they require additional analysis that would help them in making informed decisions that would be more efficient in terms of installation and best optimize development costs.
Spinergie's market intelligence solution
Spinergie analysts used a number of dashboards, available within our Market Intelligence solution, to provide the client with accurate, up-to-date analysis and insight.
Wind Farm Analysis
The Wind Farm Analysis dashboards give an overview of market activity in the offshore wind market. Filters allow for search customization with the ability to narrow searches down by fixed or floating foundations, foundation types and foundation manufacturers.
Once filters have been selected, intuitive dashboards display the exact data required including Announced Capacities and Turbines per Foundation Type which gives a broad overview of activity. It is possible to gain more granular detail on foundation specifics within the Wind Farms Status and Main Specs database.
Forecast
Forecast dashboards also benefit from the ability to filter for specific foundation types. The main dashboards show capacity forecasts, which can be further filtered to show the forecast for a specified region or indicate the global trend.
The Vessel Days chart forecasts how many vessel days will be required for foundations and/or turbines out to 2030. It is also possible to compare announced wind farms against the forecast.
Installation Performance
The wind Installation Performance dashboard provides granular analysis into foundation installation durations per wind farm, once again with the ability to filter by specific foundation type.
It is possible to view charts showing Installation Performance by Foundation in terms of time at turbine, vessel days per foundation installation (including transit and loadout), foundation installation trends, number of foundation parts installed per trip and a database of the latest foundation installation campaigns with granular, downloadable data.
Result
The study provided the client with an objective, detailed analysis that was crucial in determining the best course of action for their future projects. In particular, the study helped the client to evaluate the different foundation options available at wind farm sites. It was also possible, however, to assess the performance of vessels installing foundations taking into account water depth, wind speed at sea level and wave heights to gain a complete picture of previous installation scopes.
By having access to forward-trend analysis, as well as previous installation assessments, the client was able to make informed decisions that helped minimize costs. This also allowed the client to make confident and effective choices that helped them achieve their goals.
Reach out to Spinergie and request a demo today to uncover what our Market Intelligence solution can do to help in planning your future development projects.
