Mikkel focused on two main opportunities for suppliers of installation and maintenance services in the offshore wind industry: the potential for business growth and a chance to make offshore operations more sustainable. Both opportunities stem from the expected increased rate of installations and the deployment of new turbine generations in the offshore wind market. Rates of installation are expected to increase with entirely new markets opening up across Europe, Asia and North America, indicating room for growth in the fleet of vessels servicing the sector. Further contributing to the lagging supply of vessels, the increased size of turbines and general level of site difficulty present technical challenges which require development of solutions from across the offshore wind supply chain.
Mikkel noted that Cadeler expects a potential shortage of suitable installation assets in the mid-2020's as the supply chain works to rapidly upgrade existing assets, where possible, and deliver new build vessels specifically designed for the next generation of wind turbines. Additionally, he highlighted the potential for reducing the environmental impact of windfarm installation vessel operations with implementation of greener technologies and power systems in the delivery of the upcoming classes of vessels; as the actors across the supply chain move to modernize their fleets, they have a perfect opportunity to grow sustainably.