Thursday 31 October 2019 | 08.30 - 17.00 | P&J Live, Aberdeen
FLOATING OFFSHORE WIND: A VISION OF THE FUTURE
The floating wind sector's vision of the future is a bold one: higher wind speeds, deeper waters, serial production and reduced cost.
That vision, devised in the UK by a Floating Wind Steering Group composed of developers and supply chain companies, is driving the creation of a new industry with vast export potential.
With an Offshore Wind Sector Deal now part of the UK's Industrial Strategy and a UK Government White Paper on energy setting out future plans for how we produce and distribute power, floating wind is riding high.
This opening session will look at the plans already in place to deploy around the UK and reflect on what industry must now do to deliver on ambitions which will shape the future of offshore energy.
STACKING UP THE SUPPLY CHAIN
Does the UK & Scottish supply chain have what it takes to crack floating wind? Can fabricators, engineers and analysts provide the skills needed to develop our deep-water wind resource?
Early offshore wind is already learning lessons: a historic lack of investment has left some home-grown operators struggling to keep up, with projects needing to invest abroad to reduce risk and secure FID.
So how can industry ensure the supply chain of tomorrow begins to coalesce today? What must happen to ensure developers, financiers, insurers and regulators can choose UK Plc to deliver floating wind in territorial waters? And what’s the size of the prize if we can make it all add up for the supply chain on which new projects depend?
THE ROAD TO 75GW - FLOATING’S PLACE IN NET-ZERo
While the global opportunity for offshore wind may be remarkable in its scale, the UK knows from domestic experience that many factors must align in order for bankable projects to deploy.
As alternative approaches to consenting, planning and environmental impact assessments develop in every potential market, policy has the power to slow the progress of floating wind - no matter the wind speeds.
In a sector where the definition of risk can make or break individual schemes, what benefits can Scotland and the UK bring the rest of the world as we seek to turn the planet’s deep water renewable energy resource into a floating wind reality?
FINANCE, INNOVATION AND POLICY: PRACTICAL COST CUTTING IN FLOATING OFFSHORE WIND
The world's appetite for green power, coupled with relentless determination from governments to reduce LCoE, focused industry minds and produced once-unimaginable cost reductions in fixed bottom offshore wind.
With investors now clamouring to back conventional projects, how do we present our newer technologies? Can today’s early-stage floating offshore wind schemes couple the experience gained in the development of fixed-bottom offshore wind with new thinking and determination to cut costs in the same way? Or could novel finance solutions provide the efficiencies which the sector needs?
The timeline on which floating will achieve cost parity with fixed-bottom projects is being discussed by industry and policy makers alike, so what do developers, financiers and supply chain from across the world think could be done to accelerate cost reduction in floating wind?
- Andrew Donaldson, Director, Flotation Energy
BUILDING FOR MAXIMUM SUCCESS
The infrastructure which supports a project is essential to its success. But are the world's ports and harbours ready for floating wind? With 40+ subsea designs and the battle between steel and concrete foundations as-yet unresolved, how can supply chain begin to invest? And without their investment, can floating really take off outside a handful of existing cluster ports?
This session will bring some of the world’s most cutting-edge supply chain thinking to bear on the issues facing floating wind’s development and ask: in the cause and effect dilemma between gigawatt-scale deployment and supply chain success, how can we chart a path which ensures everyone wins?
- Hamish Scott, Group Strategy Director, Peel Ports
- Gillian Morrison, Senior Development Manager - Large Scale Renewables, Highlands and Islands Enterprise
- Steve Jermy, Board Member, Cornwall & Isles of Scilly Local Enterprise Partnership
A GLOBAL PRIZE: CAPITALISING ON THE ENERGY TRANSITION
Fixed-bottom offshore wind solidified the connection between the UK’s mature oil and gas sector and renewable energy. Floating’s ability to provide flexible offshore megawatts where they’re needed, not just where water depth allows, means it’s ideally-suited to power the ongoing evolution of oil and gas.
So do plans for offshore hydrogen production and distribution - using oil and gas assets in mature basins - stack up for floating? Are there opportunities or synergies between wind and fossil which only the UK can provide?
With two truly global industries working side by side, the opportunities for floating are enormous. Japan's desire to move away from nuclear, Korea’s dominance in shipping and California's ever-growing thirst for green power mean that they, among many other markets, are hot on the UK’s heels.
But where should developers, investors and supply chain companies be focusing their attention? And how can they use Scotland's experience and wider opportunities to gain a leg-up in the multi-billion pound offshore energy sector of the future?
- Deirdre Michie, Chief Executive, Oil & Gas UK
- Gunther Newcombe, Director of Operations, Oil and Gas Authority