Speaker
Description
Offshore Wind - The new renewable growth engine
Chan-Hee Son, Head of Offshore Wind Technology Q ENERGY, Berlin
The Offshore Wind Industry has come a long way. Since the years of the mid 2000s when regular wind turbines were repurposed for the use in a far harsher offshore environment, we now have 2nd and 3rd generation of dedicated offshore wind turbines in sizes and capacities never thought possible. The development of the supply chain in tandem with the Turbines is an inspiration by itself. With the economies of scale and experience, the cost of energy from offshore wind has tumbled where grid parity has been reached. This all would not have been possible without the subsidies and continuous policy support of governments throughout the European Union. The balancing act of growing an industry with support while facilitating the reduction of cost has culminated in an industry that is now standing on its own merits, becoming the 3rd pillar in the fight against climate change after solar and onshore wind.
It is again countries within and around the European Union that are not resting on its laurels but renewing the commitment towards the fight against climate change in the form of even more ambitious plans and dedication for renewable energy. Specifically for offshore wind, the current installed capacity has already reached 30GW and we look at projections of 110GW in 2030 and 190GW in 2035 by some of the industry’s renowned media.
Q ENERGY has always been dedicated to merchant markets where the dynamics of the market determine the prices and volumes of renewable energy. Our success story continues, having started with Solar, expanding into onshore wind and accumulating a pan-European pipeline of more than 12GWs of renewable energy projects to date.
Now is the right time to enter the offshore wind industry. The rapid growth of the offshore wind market has made it clear that this is a market and industry that Q ENERGY cannot forego. Provisionally based out of Berlin, the headquarters of Q ENERGY, we are in the process of hiring top talent in the industry that will together with our seasoned local development teams spearhead the entry into Offshore wind.
The recent acquisition of DSME(World’s 2nd largest Shipbuider) by our mother company Hanwha, is a great enabler and addition to our competency in terms of offshore wind capabilities that no other developer or utility active in the offshore wind industry can name their own.
It is with high excitement and motivation that Q ENERGY and all its members are anticipating the first offshore wind project to call our own.
The talk will cover the status and projection of the offshore wind industry's growth and shedding some light into what Q ENERGY's ambition and strategy entering the market will be.
References
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| Keywords | Q ENERGY, Offshore Wind, Project Development |
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