As countries around the world added carbon neutrality and carbon peaking to their development goals, new opportunities emerge in the new energy industry, led by wind power. China rolled out policies such as “non-inclusion of the consumption of newly added electricity generated from renewable energy sources in the total energy consumption control” and “a new type of power system with new energy as the mainstay”, providing more favorable opportunities for the development of China’s offshore wind power.

At the moment when opportunities and challenges coexist, the 2022 Global Offshore Wind Summit, themed with "Enhancing innovation-focused efforts to promote the smooth and orderly development of offshore wind power”, was held from November 10 to 12 in Haikou, Hainan. The Summit is sponsored by the Chinese Wind Energy Association of the China Renewable Energy Society, the Chinese Renewable Energy Industries Association of the China Energy Research Society, and the Global Wind Energy Council, and organized by Shanghai Electric Wind Power Group Co., Ltd. (“Shanghai Electric Wind Power”), Ming Yang Smart Energy Group Limited, and Wind Energy Magazine, aiming to promote the synergy and sustainable development of the offshore wind power industry and the coastal economy.

Cooperating across the Industrial Chain to Build a Marine Community with a Shared Future

While multiple national strategies bring huge opportunities, the wind power industry also faces major challenges. The market of installations connected to grid fell in 2022, resulting in excess capacity and serious irrational competition. The cancelation of national electricity subsidies and the sharp electricity price cut brought new economic challenges to the offshore wind power that just got its scaling up.

In his speech, Miao Jun, Secretary of the Party Committee and Chairman of the Board of Shanghai Electric Wind Power, called on the industry to look at the offshore wind power market rationally. While capital expenditures (CAPEX) deserve consideration, the characteristics of offshore wind power require more attention to operating expenses (OPEX). The owner company should not just focus on reducing CAPEX. Extensions of green energy, such as offshore wind power-based hydrogen production, marine pasture, offshore tourism, offshore agriculture, can bring in more revenue for projects and promote the development of offshore wind power. The development of offshore wind power requires whole-chain participation. Common development builds strength for a marine community with a shared future.

Shanghai Electric Helps Qiongzhou Build a Hundred Billion Level Wind Power Industrial Cluster

As Shanghai Electric turns 120 years old, Shanghai Electric Wind Power will use its integrated advantages in energy equipment to help Hainan build a hundred billion level wind power industry cluster.

Shanghai Electric Wind Power has joined hands with Shenergy Group in Hainan. The two companies invested in the Yangpu Shenergy Electric Wind Power zero-carbon energy equipment industry project in Danzhou, and seek to promote the building of an offshore wind power industry chain, explore new models of integrating offshore wind power and ocean current power generation with marine fisheries, offshore agriculture and other industries, and create more possibilities for the “clean energy island”.

Besides, Shanghai Electric Wind Power will also join Shanghai Electric’s comprehensive industrial platform to integrate and cultivate new energy-related industries, such as offshore tourism, offshore aquaculture, offshore energy islands, and offshore refueling stations for hydrogen-fueled ships. It will promote the integrated development of new energy and other industries, forming a new industrial ecosystem where multiple chains grow and prosper together. Wu Gai, Vice President and General Manager of the Offshore Business of Shanghai Electric Wind Power, said that in the 12 years since the Donghai Bridge offshore wind farm was built in 2010, the industry has scored many “firsts” in China and even in the world. Particularly, in the five years after the new installed capacity exceeded 1 million kilowatts in 2017, China’s offshore wind power industry achieved what took Europe 30 years, which is unprecedented in the history of wind power. We believe that China’s offshore wind power should focus on high-quality development while scaling up.

At the Summit, Shanghai Electric Wind Power also shared technologies on floating wind power, large scale wind turbines and offshore wind power operation and maintenance.