In many ways, 2023 has been a challenging year for offshore wind, but it's setting records for projects completing turbine installations.
This year, the offshore wind industry has seen several wind farm projects wrapping up turbine installation, with an estimated 7,426 MW of offshore wind power set to be installed by the year’s end. Turbine installations generally went smoothly for projects where they were installed on time. Needless to say, a number of projects spilled over into 2023 due to delays, contributing to the surge in turbine installation completions for this year.
For the offshore wind vessel market, delays are less than ideal as vessels are in low supply. However, in 2023, the vessel market has shown resilience and managed to pull through. Very few, if any, projects will carry over into 2024, which is expected to be a busy year for turbine installation. Some exceptions must be considered, such as Neart na Gaoithe and South Fork, where turbine installation may potentially occur in the first weeks of 2024. Nevertheless, this is not anticipated to have significant consequences for 2024.
Estimated turbine installation end dates and COD period, based on public information. Unexpected events may cause delays. Only ongoing projects are included for the 2023 target. Yunlinn project move into 2024 target.