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As the offshore wind industry matures, the industry is looking increasingly into new strategies to optimize O&M practices in order to reduce LCOE. This is particularly true in Europe, where 90% of the world’s offshore wind fleet is currently located. O&M costs are site-specific and variation depends largely on turbine reliability.

As turbines exit their warranty period, new revenue opportunities open up for O&M companies. Asset owners’ O&M decisions are based on the project-specific business case but strategic patterns are becoming visible and will affect future service provider segmentation. Off-warranty offshore wind O&M revenue opportunity expected to grow tenfold to 2025 and Utility owners expected to increasingly pursue self-perform strategies to achieve cost out. 12% offshore LCOE reduction to 2025 expected from reducing cost from unscheduled maintenance and related offshore logistics. Make’s Research Note analyzes offshore O&M dynamics and trends. It forecasts out of warranty offshore capacity and estimates the total market revenue potential. Furthermore, it highlights the respective business cases for in-house, outsourced and hybrid O&M models, outlines the key actors’ strategic priorities and estimates the impact of O&M optimization on LCOE development.

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