Every third day until Christmas, we will reveal three evaluation markers to improve your company’s odds for success in offshore wind. As a special Christmas reflection, each release will also contain a strategic observation from the global offshore wind scene.
The Christmas Calendar structure reflects the Green Ducklings framework that we use to map any company’s “Offshore Wind DNA” through our 24 DNA Markers.
#1 CORE COMPETENCE
Core competence is a measure for the know-how and capability of an organization within offshore wind. Both capacity and depth in relevant competencies within classic disciplines such as Project Management, Engineering and Product Development are important elements. Understanding of contracting structures, stakeholders and the role of financiers are industry specific elements of high importance and are necessary to maximize use of your core competence.
Technology is a measure for the extent to which relevant offshore wind technologies play an embedded part of a company’s DNA. A company’s ability to engage in development of offshore wind Intellectual Property and use it as an integral part of their services is important. Foundation concepts, mooring systems, converters, safety equipment and aviation are examples of relevant technologies. Some companies are “technology-agnostic” and only use technology as a differentiator to a low extent. They have to rely on their general skillsets (refer to #1 Core Competence).
Fabrication is a measure for the cost and delivery time for structural elements. Industry requirements are high in terms of a product’s competitiveness as well as modularization thinking and production output. A longer time to deliver the first product of a batch is normally acceptable, but time for completing the total batch is a key element, since it can affect the duration of the project installation.
CHRISTMAS REFLECTIONS FROM THE MARKET
The Covid19-crisis has had a positive impact on the global ambitions for offshore wind – global projections have more than doubled since the start of 2020.
500 GW was the pre-Covid target for 2050 – ambitions for the coming 30 years now reads 1,400 GW! With just 30 GW of offshore wind capacity today, the industrial rollout has just begun.
Industrial success is defined by the ability to deliver on lowering environmental impacts and maximizing green job creation.
Companies that take position toward offshore wind now are seizing huge opportunities over the coming decades.