Royal IHC: Opportunities Abound in Emerging Offshore Wind Markets

There is a huge amount of opportunities in the first and the second wave of emerging offshore wind markets, according to Stefan Lettink, Director Wind at Royal IHC, said.

Lettink described the markets in the US, Taiwan and Japan as belonging to the ”first wave” of the emerging offshore wind markets. The ”second wave” includes countries such as Canada, Spain, India, and Vietnam, Lettink said.

One of the issues for the non-US vessel owners interested in joining the supply chain there is the Jones Act requirement. Lettink suggested that the issue could be bypassed through teaming up with domestic companies.

Commenting on China, Lettink said that the country is developing its supply chain ”at the speed of light.” China is also trying to export its technology to Europe and other markets, according to Lettink.

However, it is very difficult for non-Chinese companies to enter the Chinese offshore wind market, Lettink added, unless you have some really specific added value.

Taiwan, on the other hand, is very open to the European content and knowledge, and that is where the chances are for the European Supply chain, according to Lettink.

“It [Taiwan] is a small country with a limited supply chain, so there are chances for all of the supply chain, for all different sub-industries, for developers, for turbine manufacturers, installation contractors,” Lettink said.

Lettink was one of the panelists at the session New Markets for Offshore Wind. Other panelists included Liz Burdock, President and CEO of the Business Network for Offshore Wind USA, and Edgare Kerkwijk, Board member at Asia Wind Energy Association.

Reporting: Nadja Skopljak; Editing: Adnan Durakovic/Adrijana Buljan