Atkins, together with law firm K&L Gates LLP, has released an updated Offshore Wind Market Handbook to help guide investors through technical and regulatory issues in the US offshore wind market.
The US offshore wind market has quickly evolved over the last year, with extensive updates in policy and regulatory environment, and several states entering or strengthen their commitment to the industry, Atkins said.
The handbook also includes updates to reflect global developments including: the award of in-year US lease rounds; the recent Contract for Difference Auctions in the UK where the support of offshore projects is as low as GBP 39.65 per megawatt-hour; and technological advancements such as the first 12MW turbines.
“For large companies and investors in the US offshore wind market, the technical and regulatory issues have been pivotal to opening up the development of offshore wind projects in the US,” Andy Thompson, Director, Offshore Wind, Atkins said.
“Since we first launched our handbook last year, there have been significant market developments, and we must make sure we give the most update information to stakeholders and new market entrants. The strength in commitment from US states is key so the supply chain has clear visibility of a pipeline of projects, and commitment to the industry’s success. The recent drop in prices in the UK, increased investor confidence, and the world’s largest 12MW turbine now committed to large scale projects, such as Dogger Bank, sets the industry on an exciting new path of engineering and design.”
Regulatory issues include a discussion of the interplay between US federal jurisdiction and the various coastal states that have enacted laws and regulations encouraging offshore wind projects.
Technical issues include turbine and foundation options and solutions, performance assurance strategies and a discussion of innovations in design and equipment that are particularly suited to US coastal waters.