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February 18, 2021

Aker Solutions wins Empire Wind engineering contract in US

Integrated solutions provider Aker Solutions has secured a front-end engineering and design (FEED) contract from Empire Offshore Wind.

By Umesh Ellichipuram

Aker Solutions has secured a front-end engineering and design (FEED) contract from Empire Offshore Wind project in the US.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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Under the contract, the company will design, construct, and deliver concrete foundations for offshore wind turbines in New York state.

The contract scope also includes analysis of construction methods and models for marine operations to install the structures.

Aker Solutions CEO Kjetel Digre said: “In recent years, we have increased our activity within low-carbon and renewable energy projects, and offshore wind is a key growth area.

Aker Solutions is already delivering concrete hulls to Equinor ’s Hywind Tampen offshore floating wind project. We are pleased to see that the Empire Wind development is considering using proven concrete technology, and that we can contribute with our expertise.”

Equinor and BP won bidding to develop the Empire Wind project under a 50/50 strategic partnership in January.

Aker Solutions intends to begin work immediately, with completion expected in August this year. The company said that it will its experience gained from previous deliveries of concrete substructures.

The company secured the FEED award for Empire Wind after it won the pre-FEED contract in 2019.

Last September, Equinor agreed to sell a 50% stake in two offshore developments to British oil and gas company BP for $1.1bn. The stake covers the Empire Wind project in the waters of New York State, and the Beacon Wind project off the cost of Massachusetts.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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