Main offshore wind developer Ørsted says it expects delays to its U.S. portfolio, however mentioned it’s transferring to grab a wave of alternatives on supply globally through the subsequent 18 months.

Requested by an analyst Wednesday which of the 25-30 gigawatts of offshore wind tenders scheduled to be held between now and the top of 2021 the Danish firm can be pursuing, outgoing CEO Henrik Poulsen mentioned: “All of them.”

Tenders are deliberate within the U.S., Japan, U.Okay., Denmark, Germany, Netherlands, France and Poland. Taiwan may maintain an public sale.

Mitigating U.S. delays

Ørsted additionally provided an replace on its U.S. tasks, which have been caught up in federal allowing delays — a course of the corporate now says is on pause.

“Even assuming the allowing course of begins transferring inside the first quarter of subsequent yr, it seems extremely possible that Revolution Wind, Ocean Wind, Skipjack and Dawn Wind can be delayed past the beforehand anticipated 2023 and 2024 building years,” Poulsen mentioned.

Poulsen, talking throughout his remaining quarterly outcomes name, mentioned the corporate had made progress on numerous different fronts, together with U.S. with state-level permits.

In addition to making progress with selecting O&M bases and arranging grid-connection websites, Poulsen touted the potential for expertise to assist scrub out the affect of delays.

Ørsted has already chosen GE’s 12 MW Haliade-X turbine for 120 MW Skipjack and the 1,100 MW Ocean Wind mission. Now, Poulsen says they wish to improve from the eight MW Siemens Gamesa turbine chosen for Dawn, Revolution Wind and South Fork. Poulsen mentioned the corporate would be capable of “preserve and optimize” its tax credit for all U.S. tasks the place the turbine had been optimized.

Siemens Gamesa has launched a 14 MW turbine because it signed the 1.7 GW cope with Ørsted solely somewhat greater than a yr in the past.

With no fewer than seven auctions lined up within the U.S., Poulsen mentioned it wasn’t unattainable that the corporate might exhaust all its seabed leases.

Builders within the northeastern U.S. have agreed to spacing between generators in U.S. waters of 1 nautical mile, or round 1,800 meters. Generators in Europe may be as little as 500 meters aside. A change to bigger generators would make up for among the losses of a extra sparsely populated seabed.

Poulsen mentioned elevated turbine sizes would additionally compensate for the affect the federal delays had been having on mission economics.

“[Larger turbines are] a significant alternative to offset the monetary affect from the allowing delays,” he mentioned. Whereas he wouldn’t decide to it writing off all of the affect of the delay, he did say the change would go away the returns from the tasks at a degree they’d be pleased with.

International alternative

New information from commerce physique RenewbaleUK launched Wednesday confirmed that the worldwide pipeline of offshore wind tasks had grown 50 % in a yr.

Poulsen mentioned the market had doubled in dimension for the reason that agency’s final capital markets day, two years in the past. “We’re most likely the one developer on this planet who really might be part of each single one among these alternatives,” he mentioned.

Requested whether or not its 15 GW deployment goal for 2025 needs to be revised up, Poulsen mentioned that will be a query for his successor Mads Nipper, who takes over as CEO on 1 January 2021.

Ørsted’s newest monetary outcomes mirrored decrease energy demand, offset by an additional 500 MW of era capability and a rise in put in capability of 1,200 MW.

With Hornsea 1 within the U.Okay. and Borselle 1 & 2 including contemporary spinning generators, offshore wind earnings grew 15 %.

The DKK1.1 billion ($174 million) divestment of its Danish energy distribution and residential buyer companies masked a drop in web revenue in comparison with the identical time final yr. With out the divestment, web revenue was DKK877 million in comparison with DKK1,443 billion in Q3 2019.

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