Not enough vessels: offshore wind giants look to long-term deals to beat bottleneck

Offshore wind developers could increasingly turn to longer-term contracts to secure turbine installation vessels in a sector facing supply chain bottlenecks even as a proliferation of government targets drives demand up.

With many offshore wind projects already working on tight margins and vulnerable to rising costs or delays, concerns about the availability of WTIVs is bringing a shift toward longer-term strategies and contracting partnerships.

An example of this came this week when German utility RWE signed up for the exclusive use of two next-generation wind installation vessels from Jan de Nul Group, a Belgian offshore services provider.