BCG and PEAK Wind unveil comprehensive report on enhancing offshore wind profitability

By: Chloe Emanuel

Home Market Intelligence Wind News

Subscribe to our Wind News
General Windfarms
04/07/2024 BCG and PEAK Wind

A new report by BCG and PEAK Wind highlights the crucial role of Operations and Maintenance (O&M) in transitioning offshore wind farms from supplementary green energy sources to primary energy providers. The report underscores the untapped potential in optimizing existing operational fleets to create greater value and support the growing role of wind energy in global energy systems.

"Efficient management of offshore wind farms is now more crucial than ever to ensure their financial viability during the operational phase. Achieving stable and predictable business outcomes requires a simultaneous focus on both revenue and cost," says Matti Scheu at PEAK Wind.

The authors of the report identify seven key indicators of a mature and future-proof O&M function:
Balancing innovation with standardization
Transitioning from production-based to revenue-based availability metrics
Redefining fitness-for-purpose across all project phases
Continuous improvement of the production system
Optimization of synergies across portfolios and collaboration with neighboring sites
Designing data integration and learning models
Early focus on lifecycle management

"The offshore wind industry is at a pivotal point where operational performance constitutes an ever-larger proportion of the net present value of projects. By refining O&M practices, developers can unlock significant value and enhance project viability," Robert Hjorth, Managing Director and Partner in BCG’s Oslo office, added.

Additionally, the report discusses the evolution of turbine technology and the necessity for a shift towards more robust predictive and revenue-focused O&M strategies. BCG and PEAK Wind are committed to supporting the offshore wind industry through innovative strategies and robust management practices. The insights provided in this report are expected to drive significant improvements in operational efficiency and profitability for offshore wind projects worldwide.


For more information about offshore wind farm projects across the globe, click here.

About the Author

4C Offshore | Chloe Emanuel
Chloe Emanuel

Press Coordinator

01502 307037 Chloe.Emanuel@tgs.com
View all news

Explore Trending Offshore Wind News

View All

The impact of Reform UK's policies on the UK's progress towards Net Zero
The impact of Reform UK's policies on the UK's progress towards Net Zero

Friday, 14 June 2024
Rosslare Europort to become offshore renewable energy hub
Rosslare Europort to become offshore renewable energy hub

Wednesday, 12 June 2024
energyRe proposes offshore wind transmission projects to boost New York’s clean energy initiatives
energyRe proposes offshore wind transmission projects to boost New York’s clean energy initiatives

Tuesday, 18 June 2024