TGS has issued an analysis of offshore wind cable failures in its latest quarterly Offshore Transmission and Cables report.
This draws on market intelligence from the group’s 4C Offshore division to assess the causes of cable failures and the associated costs. New data suggest there could have been about 3,600 cable failures between 2024 and 2035, with a potential cost of EUR 61.5 billion ($66.96 billion).
Rameeza Duggal, senior researcher for 4C Offshore, said, “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.”
However, the latest quarterly report also forecasts strong demand for offshore wind platforms from 2024 to 2040, with about 832 substations to be installed globally during this period.
“The construction time for substations has doubled over the years—four years for AC substations and six years for DC substations," added Dr. Jamie Bernthal-Hooker, TGS' research team manager. “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."
