Offshore Wind Industry in Denmark – Organization and Development of an Emerging Business System EXECUTIVE SUMMARY AND CONCLUSIONS Offshore wind energy is a business area which has progressed by leaps and bounds since the first offshore wind farm was built off Vindeby almost 25 years ago. In the past decade, offshore wind energy has been the focus of a great deal of attention in national energy plans in Europe. The installed offshore capacity has grown dramatically in the last five years. Offshore wind turbines accounted for 15% of wind energy capacity installed in 2013. Once a small area of wind energy, offshore wind energy has now become a focus area for a growing number of companies of which some are specialising in offshore. Meanwhile, there are indications that a wider circle of companies show an interest in offshore wind energy. Even though the offshore wind energy market has grown and is now – at least in Europe – a significant part of total wind energy installations, it is important to bear in mind that, in commercial terms, there are appreciable differences between offshore and onshore wind energy; differences which clearly affect how the offshore wind energy business system is configured and developing. Firstly, offshore wind energy activities are focused on relatively few projects, each of which has substantial volume. This means that decisions regarding the choice of solutions and suppliers are made by a very small number of decision-makers and the market is characterised by project supply and a great deal of uncertainty. In effect, this makes it difficult for companies to balance their presence in the offshore wind energy market with other market activities. A concentrated market – relatively few projects Feasibility studies 1–3 years Authorisations 2–4 years Supplier agreements and supply chain 2–3 years Finance 1–3 years Installation and commissioning 1-2 years Operations 20+ years De-commissioning ? 03
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