European Offshore Wind Overview. February C Offshore - OrbisEnergy Centre, Lowestoft, NR32 1XH T: +44 (0) E:

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1 European Offshore Wind Overview February C Offshore - OrbisEnergy Centre, Lowestoft, NR32 1XH T: +44 (0) E: info@4coffshore.com

2 European Overview 2 Table of Contents Capacity Overview 3 Planning Capacity 5 Project Pipelines by Country 6 EMR Update United Kingdom 12 Belgium Update 14 Denmark Update 19 France Update 24 Turbine Trends 27 Turbine Manufacturers 28 Turbine Installers 28 Detailed Design of Turbine Foundations 30 Substation Foundations 31 Foundation Types 32 Turbine Foundation Manufacturers 34 Turbine Foundation Installers 35 Cable Manufacturers 37 Cable Installation 39 Project CAPEX 41 Operations and Maintenance Costs 42 Ownership 47 Maps 49 Please note: as well as updating all analysis presented in this document, new content is added dependent on customer feedback and requests. Previous content and analysis is available from the 4C website in the Subscriber Downloads section. All the data used to prepare the graphs and analysis included in this document is sourced directly from the 4C database, included as part of your Offshore Wind Farm Subscription. Revision A1 Date 9 th February 2015 Prepared Richard Garlick and Richard Aukland Checked and Approved Simon Powles and Richard Aukland This document has been prepared in good faith on the basis of information available at the date of publication. 4C Offshore does not guarantee or warrant the accuracy, reliability, completeness or currency of the information provided in this publication. Readers are responsible for assessing the relevance and accuracy of the content of this publication. 4C Offshore will not be liable for any loss, damage, cost or expense incurred or arising by reason of any person using or relying on information in this publication. This product is protected by copyright and is not to be distributed to other individuals without the prior written consent from 4C.

3 European Overview 3 Capacity Overview In the following section, the turbines of each wind farm under construction have been split into what has and has not been installed to give an exact snapshot of how the market currently stands. It is important to note though that whilst the turbines may have been installed they may not be generating power, as this will rely on the respective cables and substations being installed and operating. The total installed capacity at present stands at 9.85GW, with a further 1.17GW under construction. Belgium Netherlands Installed Capacity (MW) Denmark Germany United Kingdom UNITED KINGDOM GERMANY DENMARK BELGIUM NETHERLANDS SWEDEN FINLAND IRELAND SPAIN NORWAY 2.32 PORTUGAL 2.00 Figure 1. Installed capacity by country Whilst Denmark, Belgium and the Netherlands hold a significant market share, Germany and the United Kingdom are widely considered the two giants of offshore wind due to their large project pipelines and positive government outlooks. Strong support from both the German government and public in the past four years has ensured a steady stream of projects have reached the construction phase, whilst the UK has been perservering as the market leader since There are currently ten projects under the construction and commissioning phase, of which further details can be found below. Figure 2. Under construction capacity by country Germany Netherlands Capacity Under Construction (MW) GERMANY 880 UNITED KINGDOM 165 NETHERLANDS 129 UK

4 European Overview 4 Planning Capacity Irrespective of finance, assessing the volume of consented projects allows an understanding of the capacity in development. Figure 3 must be viewed with each individual market context in mind, taking into account factors such as Government outlook and respective policies on renewable energy and offshore wind, competition for subsidies with other renewable energy sources and available financing options to name a few constraints. However, it is clear that the planning activity is mainly centered around the two giants of offshore wind, Germany and the UK, whilst sizeable plans are being drawn-up in Poland as they focus on the early stages of their industry. Sweden have a large planning pipe although the capacity is lying dormant due to a lack of sector specific political support for offshore renewables Early planning Consent submitted Consent authorised DENMARK NETHERLANDS GW UNITED KINGDOM GERMANY BELGIUM GW FRANCE DE UK SE PL NL FI DK FR BE Planning capacity for major markets Breakdown by project phase Figure 3. Planning capacity breakdown by country Please note: the total planning capacities of each country are based on the maximum capacities of the projects being developed when a range has been issued by the developer. Downsizing is occasionally seen, and particularly in the UK: for example, Triton Knoll issued its intentions to downsize the three phase project from a maximum of 1,200MW to MW last year - at least a 25% reduction in the maximum total capacity. The following section takes a closer look at the project pipelines for each country, taking into account each project individually alongside government targets to detail a credible scenario.

5 European Overview 5 Belgium Update Government Objectives and Background Under the EU Renewable Energy Directive, Belgium has committed to generating 13% of energy from renewable sources by 2020, with a 21% contribution from the electricity sector. There is political will for 2GW of installed capacity by 2020 based on a small but tangible pipeline of projects. In January 2003 the Belgian Senate approved an act prohibiting the building of new nuclear power plants and limiting the operating lives of existing ones to 40 years (to ). Due to a lack of new generation capacity, the planned phase-out of nuclear and the shut-down of a couple of large generating plants, Belgium is structurally dependent on import of electricity for the coming years. This timescale is final and cannot be changed by decree. This certainty is creating a favourable climate which to gradually phase out nuclear power and support investment in other low carbon technologies. In a royal decree of 20 th December 2000 a designated zone for offshore wind energy was defined of approximately 260km2 (later reduced to 240km2) for the installation of renewable energy plants across 7 zones. Domain concessions totalling 2.2GW of capacity have been granted for all zones; Development to Date It can be seen from Figure 4 that MW is already connected to the grid and generating power. Below shows a map of the Belgium current and planned projects for the areas where domain concessions have been allocated. The Belgian Offshore Grid is also shown, although this is not yet installed (see below). Thinking beyond 2020, in 2013 a government commissioned study analysing the feasibility of 100% prime energy consumption as renewable energy by Due to limited offshore space 8GW was considered practical maximum for installed offshore wind capacity. However no further action has been taken on identifying possible future sites for development. 29% 19% 5% 4% 8 shareholders Parkwind NV 17% 35% Municipal Investment Sumitomo Corporation Corporate Investor RWE Pure Play Project Developer Aspiravi Holding NV Nuhma Utility Supply Chain Infrastructure Funds 10% 12% 12% 21% NAME Capacity (MW) First Power Operators THORNTON BANK PHASE I C-Power NV BELWIND I Belwind NV THORNTON BANK PHASE II C-Power NV THORNTON BANK PHASE III C-Power NV NORTHWIND Parkwind NV BELWIND HALIADE DEMO Belwind NV Figure 4. Ownership market share for under construction and commissioned projects

6 European Overview 6 Turbine Manufacturers 4% 1% 6% Capacity (MW) Number of Turbines 7% SIEMENS Siemens Vestas Senvion Areva Wind VESTAS SENVION AREVA WIND BARD BARD OTHER % Figure 5. Market share: turbine manufacturers Figure 5 highlights the large capacity market share currently held by Siemens, who continues to be the turbine supplier of choice for many developers. Vestas proved to be the leading option in the period up to 2010 but has been overtaken by Siemens in the four years since. With 2058 turbines supplied to commissioned and under construction sites, Siemens continues to hold its position as the largest supplier of turbines to offshore projects in Europe, holding a 64% share. competitors to Siemens include Senvion (formally REpower) and Areva, with a market share of 7% and 6% respectively. The use of 80 BARD 5.0 turbines at the German project BARD Offshore 1 has resulted in the company gaining 4% of the market with 81 turbines now installed, although with the closure of the company it is highly unlikely this turbine model will see production in the future. Turbine Installers 16% Turbines Installed 44% 11% 7% A2SEA MPI Offshore Seajacks GeoSea Fred. Olsen A2SEA 1298 MPI OFFSHORE 455 SEAJACKS 309 GEOSEA 212 FRED. OLSEN 111 OTHER 524 4% Figure 6. Market share: turbine installers With five operating vessels, A2SEA surpassed the installation of 1000 turbines in June 2013 and now holds a 44% market share. MPI, the nearest competitor with 455 turbines installed, will continue to have a high rate of installation due to a number of back-to-back contracts being awarded throughout 2013 and 2014.