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A2SEA sees strong growth for offshore wind turbine installation in Europe, eyes Asia

A2SEA sees strong growth for offshore wind turbine installation in Europe, eyes Asia
Offshore wind farm installation provider A2SEA believes an imbalance between supply and demand will level off in the next two – three years, and is eyeing expansion into Asia.

A2SEA sees a strong pipeline of growth in the European market over the period from 2016 – 2024, of up to 12.5%, which soak up installation vessel capacity that has entered the market over the last few years.

“The general trend in the market is growing. France is coming in now with quite a nice pipeline,” Hans Schneider, coo of A2SEA told a media briefing at Danish Maritime Days.

With the sharp rise in competition A2SEA, one of the first movers in the market back in 2000, has seen its market share on turbine installation shrink from 88 – 89% to 44% in February this year. “Of course competitors have arrived. But there is room for a lot more offshore wind farms out there,” he said.

The new competition has resulted in excess capacity in the vessel installation market. “The last one and half years there has been a surplus of capacity. But with current developments we think the market will be levelised in 2017 – 18 -19,” Schneider explained.

A2SEA has no plans to expand its own fleet at the present time. Even installations move from their current maximum water depths of 35 m to 50 m the company’s vessels would be able to install 8MW turbines in 50 m water depth.

A2SEA has just won its first contract in Asia in Taiwan for the Formasa 1 project. Schneider described it as a “test site” and the company will be installing two turbines working in partnership with ZPMC. “We are following the development of that market.

Any move into the mainland Chinese market would be in some form of partnership with a local company. “It is not viable to work in the Chinese market without strong partners,” he said.

As to whether this would be a joint venture or similar arrangement he said that it was too early to tell.