The next decade for the offshore wind sector is one of rapid growth. Forecasts predict the market to grow to $69 billion by 2025, propelled by investments, decreasing cost of production, and favourable policies. For context, last year’s estimates placed offshore wind’s value at $39 billion.
Europe leads in terms of capacity. Four out of the top five producers of offshore wind energy come from the region.
However, the rest of the world isn’t far behind. China currently has around 4MW in construction, placing the country ahead of Germany and just behind the UK–an incredible feat, considering that the East Asian giant’s first offshore wind farm only came into operation in 2010. Meanwhile, over at the other side of the pond, the Biden administration’s offshore wind plans are germinating growth in the US’ nascent industry.
Supporting the explosive growth are a handful of companies. These organisations are providing leadership by pushing technological innovation and collaborating with policy makers to ensure we stay the course towards hitting net-zero targets.
Siemens Gamesa
With more than 40 years in the wind energy sector, Siemens Gamesa has a footprint that can be traced back to the world’s first offshore farm, Vindeby. The Spanish-German engineering company was called in by Denmark’s government to explore a concept: that wind farms can also generate power at sea.
That makes Siemens Gamesa one of the earliest pioneers of the offshore wind industry. In Europe, it’s a veritable offshore leader, taking around 70 percent of the market.
Around the world, the company is driving to secure its foothold with exciting energy projects like the Philippines’ largest offshore wind farm and developing typhoon-resistant offshore turbines for weather-battered Japan.
Ørsted
Ørsted is the world’s largest offshore wind energy developer. The Danish company’s offshore assets account for 29 percent of the world’s installed capacity. This year marks its third in a row as the world’s most sustainable energy company in the Corporate Knights 100 Index.
The energy giant wasn’t always so green. Once known as Dong Energy, Ørsted began its transformation in 2016 by divesting its sizable oil and gas assets. Now, it’s a household name in sustainable energy production, particularly in the offshore wind sector. The Danish developer currently owns a majority of the deployed offshore wind capacity in the UK.
Like manufacturer Siemens Gamesa, the developer is also looking to claim a stake in the Asia Pacific region–a market that’s predicted to become the next offshore wind powerhouse. Back in Europe, it continues to push the field with groundbreaking projects such as the world’s first artificial energy island. Spanning the length of 18 football fields, the farm is expected to be able to produce energy for three million households.
GE Renewable Energy
GE Power supplies around one third of the world’s energy demand. So it’s no surprise that the company’s renewable energy division–which was founded in 2015–has been able to install 49,000 wind turbines in less than a decade.
The company’s focus on technology is a driving force in decreasing prices for wind energy. GE’s Haliade-X is currently the world’s most powerful and efficient offshore turbine in the world with a 60 to 64 percent capacity factor. The industry average stands at around 40 to 50 percent.
Employing over 40,000 professionals in the renewables sector, GE Renewable Energy is one of the biggest employers in the sector, both abroad and locally in the UK. The company’s new turbine blade manufacturing facility in Teesside is expected to create around 2,200 jobs in the surrounding area alone.
MHI Vestas
MHI Vestas is a partnership of two heavyweights in the wind energy sector: Japan’s Mitsubishi Heavy Industries (MHI), and Denmark’s Vestas.
Vestas is one of the world’s largest makers of turbines. Founded in 1945, the company has installed over 66,000 turbines and employs 25,000 people worldwide. Meanwhile, MHI has been around since 1884 and has become an offshore wind leader in its own right, developing one of the world’s most powerful turbines and manufacturing the machines for the US and Asian markets.
Created in 2014, the MHI Vestas venture combines the expertise of its two parent companies and now directly employs 3,000 people across its offices. The partnership will serve an important role in helping both Europe and Japan meet their ambitious goals for offshore wind energy.
Ming Yang Wind Power Group
Ming Yang is a Chinese turbine manufacturer. Founded in 2006, the Guangdong-based company has quickly become one of the country’s largest and most innovative makers of offshore wind technology.
Currently, Ming Yang holds the record for producing the world’s largest turbine. The MySE 16.0-242 towers at an astounding 264 metres. The Chinese behemoth is even larger than GE Electric’s Haliade-X, which previously held the title with a height of 260 metres.
The MySE 16.0-242 represents more than another ceiling broken for the industry. With a 16MW capacity, Ming Yang’s monstrous turbine surpasses Siemens Gamesa and Vestas’ flagship models. In a field where bigger means better, Ming Yang’s technological innovation can only further propel Asia Pacific’s burgeoning offshore wind industry.
