By Vera Dvorakova and ELENA SMIRNOVA Feb 26 (Reuters) - Demand for floating wind turbines is much lower than imagined only three to five years ago, Technip Energies CEO Arnaud Pieton said on Thursday,
Technip CEO Says Floating Wind Demand Far Below Earlier Expectations
By Vera Dvorakova and ELENA SMIRNOVA
Floating Wind Market Outlook and Industry Headwinds
Feb 26 (Reuters) - Demand for floating wind turbines is much lower than imagined only three to five years ago, Technip Energies CEO Arnaud Pieton said on Thursday, reflecting broader concerns across the wind power industry.
SBM Offshore Partnership Details
Technip Energies and Ekwil’s Market Approach
Ekwil, Technip's joint venture with SBM Offshore that focuses on floating wind power solutions, will be present where projects are made. However, there are very few projects currently, Pieton told reporters in a post-earnings call.
Technology Cost Barriers
Signs of Slowdown and Cost Constraints
"We were starting to see signs of a slowdown in floating wind power last year," Pieton said, noting the technology is expensive and there is a limited number of environments in which it can operate.
Europe’s Offshore Auction Setbacks
The offshore wind power industry has been facing global headwinds. In Europe, several countries failed to attract bidders for their offshore wind farm development last year.
Impact on Orsted Projects
U.S. Stop-Orders and Court Rulings
In the U.S., President Donald Trump issued stop-orders on offshore wind projects in December, including those developed by Orsted. However, a U.S. court allowed the Danish group to resume work on the projects in February.
Reporting Location and Credits
(Reporting by Vera Dvorakova and Elena Smirnova in Gdansk; Additional reporting by Olivier Cherfan; Editing by Milla Nissi-Prussak)
