Seaway7, Dong Fang Offshore Partner in Taiwan - Offshore WIND
Seaway7, Dong Fang Offshore Partner in Taiwan | Offshore Wind
Seaway7, Dong Fang Offshore Partner in Taiwan
Seaway7 and Dong Fang Offshore (DFO) have signed a memorandum of understanding (MOU) on collaboration in the Taiwanese offshore wind market that will focus on cable installation.
According to Seaway7, the MOU outlines the intention of the two companies “to collaborate in an exclusive manner and further strengthen their offering to the offshore wind market in Taiwan.”
In Taiwan, where the company has been operating since 2017, Seaway7 is currently involved in four offshore cable installation projects, supporting the connection of more than 2.5 GW to the Taiwanese power grid.
“The intended partnership with Dong Fang Offshore builds on our existing long-term business relationship and aligns with our strategy to be a long-term presence in Taiwan. Working together [we] are well positioned to efficiently utilise assets, unlock synergies for our clients and further optimise project execution,” said Stuart Fitzgerald, Chief Executive Officer of Seaway7.
The collaboration between Seaway7 and Dong Fang Offshore will see Seaway7 providing comprehensive project management, engineering and installation knowledge, and DFO contributing the company’s in-depth local market knowledge, as well as its assets and marine operations expertise.
Ben Darrington, Chief Operating Officer of Dong Fang Offshore, said: “The partnership between DFO and Seaway7 represents a concrete step towards ensuring Taiwan and the APAC region has a viable, high quality local cable installation and repair solution, through the use of the combined fleets and the experience and knowledge of Seaway7.”
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Related Knowledge Center: Offshore wind energy
Over the next decade, U.S. offshore wind power is expected to grow from a single 30-megawatt wind farm off Rhode Island to more than 2,000 MW of capacity along the Atlantic Seaboard. There are contracts for wind power off the coasts of Massachusetts, Connecticut, New York, Maryland, New Jersey, Rhode Island, and Virginia.
The National Renewable Energy Laboratory has estimated the United States has over 4,000 gigawatts (GW) of offshore wind potential, enough to power the country four times over.
The growth in part being spurred by state solicitations, including in New York, where then-Gov. Andrew Cuomo (D) set a commitment of 9,000 MW of offshore wind by 2035, and in Connecticut, where in June 2021, Gov. Ned Lamont (D) signed legislation authorizing the construction of 2,000 MW of offshore wind by 2030.
The offshore development is also being driven by an investment tax credit set to end in December 2019 and is equal to 12 percent of expenditures. U.S. Sens. Susan Collins (R-Maine) and Tom Carper (D-Del.) have introduced a bill to extend the tax credit for up to eight years.
The Interior Department has held eight competitive lease sales that resulted in 15 offshore wind leases over 1.7 million acres that has the potential for 21 GW of capacity. In February 2022, the Bureau of Ocean Energy Management completed a bidding process that realized $4.37 billion for 488,000 acres across six lease areas in federal waters off New York and New Jersey.
Projects have also been proposed off the Southeast coast, off California and Hawaii, and for the Great Lakes.