Lowestoft, U.K. (19 July 2024) – TGS, the leading global provider of energy data and intelligence, has, for the first time, included a comprehensive analysis of cable failures in its latest quarterly Offshore Transmission and Cables report. This detailed report provides an in-depth examination of offshore wind cables and interconnectors, offering critical insights for industry stakeholders.
Leveraging specialist market intelligence from 4C Offshore, the report delves into the causes of cable failures in offshore wind, examines associated costs, and includes several case studies highlighting real-world impacts and solutions. It presents new data on failure rates of offshore wind cables and interconnectors, predicting approximately 3,600 cable failures between 2024 and 2035, potentially costing around EUR 61.5 billion.
Rameeza Duggal, Senior Researcher for 4C Offshore, commented, “This high number of potential cable failures poses a significant challenge for the vessel industry and could lead to vessel shortages, not to mention the cost implications that need to be considered in wind farm development decisions.”
Beyond cable failures, the report provides regular analysis of offshore transmission-related infrastructure, covering offshore wind platform demand, interconnector updates, changes in national environmental policies, ambitions influencing offshore transmission and cables, and global offshore grid developments.
This quarter’s report forecasts strong demand for offshore wind platforms from 2024 to 2040. It anticipates the installation of approximately 832 substations globally during this period, underscoring the growing footprint of offshore wind infrastructure. The report also details recent developments and progress in European interconnector projects.
Dr. Jamie Bernthal-Hooker, Research Team Manager at TGS, noted, “The construction time for substations has doubled over the years—four years for AC substations and six years for DC substations. Some experienced developers have chosen to finalize their manufacturing contracts well before time; however, this can push the project timeline significantly for new developers, who struggle to secure FID and whose supply chain decisions are FID-dependent."
This latest report reinforces the fact that, with demand as robust as ever and 2030 targets looming, it's vital to understand the realities of cables and transmission, including the present and future risks and challenges.
The Q2 2024 Offshore Transmission and Cables Report is now available for subscribers to 4C Offshore market intelligence. For more information or to request a copy, please visit 4coffshore.com.
TGS releases regular intelligence reports on a wide variety of offshore energy subjects powered by 4C Offshore market intelligence. In addition, they provide independent, expert cable consultancy services for a range of offshore projects, including offshore wind projects, subsea power cables, telecommunications and pipelines.
Caption: Graph showing expected windfarm-related cable failures 2024-2035 according to research conducted by TGS for their latest 4C Offshore market intelligence report.
About TGS
TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).
For media inquiries, contact:
Bård Stenberg
IR & Business Intelligence