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March 16, 2021

Bechtel and Hexicon to demonstrate floating wind technology

Floating wind developers Bechtel and Hexicon have decided to partner for large-scale demonstration projects in the UK.

By Umesh Ellichipuram

Floating wind developers Bechtel and Hexicon have decided to partner for large-scale demonstration projects in the UK.

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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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The two companies first plan to demonstrate a 35-40MW floating wind project and focus on bringing the technology to the market.

Under the partnership, US-based Bechtel will offer its expertise in engineering, construction, and project financing to develop design and construction plans.

Bechtel business development manager George Whittaker said: “We are delighted to be supporting Hexicon to bring their important technology to the market.

“As a company that has a long history solving complex engineering problems, including in the offshore industries, we are confident that this technology is possible and could be a real game-changer for the renewables market.”

A company spokesperson said the demonstration project will strengthen UK’s position in the offshore wind generation segment. It will also contribute to the government’s plan to generate 40GW of offshore wind power by 2030.

Hexicon CEO Marcus Thor said: “Our technology is one of a handful of solutions that can support deep water offshore wind projects, which will massively increase the potential for offshore wind power generation.

“The UK has shown great initiative in this industry and we are delighted to have world-leading construction and engineering company Bechtel to help us deploy our innovative twin turbine floating foundation in British waters.”

The team will explore using local suppliers for shipbuilding, mooring, installations, and long-term serving.

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Free Report
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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.
by GlobalData
Enter your details here to receive your free Report.

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