Presentations – Day 1

Offshore Renewable
Energy Forum
8-9 March 2023 | Devon Hotel, New Plymouth
Dr Cristiano Marantes
CEO, Ara Ake
Stewart Mullin
Chief Operating Officer, Global Wind Energy Council
Offshore Wind
The world’s most attractive form of
Renewable energy coming to New Zealand
Stewart Mullin, COO,
Global Wind Energy Council
Who do we do it for?
Let me tell you a little about GWEC

Policy Development Business Leadership

Communicating the benefits of wind power, Connecting and gathering together the leading
sharing best practices and working with the members of the industry. Creating business
environments to discuss challenges, find solutions
national associations and key partners on
and network
regulatory framework

Global Outreach Information and Education

Going to the right market at the right time, Market intelligence, policy analysis, technical
securing the development of the supply chain expertise, summits and conferences. Bringing the
properly industry knowledge to the big public
Where are we today?
IRENA, IEA and Energy Compact show need for
rapid scale up
Growth of renewables in global power mix in IRENA 1.5°C Scenario

380 GW by
2030;
• GWEC and IRENA have responded to the UN
2,000 GW High Level Dialogue on Energy by co-registering
by 2050 a Global Offshore Wind Energy Compact

• Pledges collaboration on capacity-building,

knowledge exchange and raising ambition
among policymakers throughout this
decade
• Provides preliminary estimate of regional
breakdown of 2,000 GW by 2050
• Outlines the need for coordinated technical
assistance on policy and regulation for new
governments to offshore wind

Source: Preview of IRENA (2021), World Energy Transitions Outlook: 1.5°C Pathway.
2021 - The best year for the offshore wind industry

2022 figures -
8.8 GW installed
and connected
last year. BNEF
state 9.4GW
Market Status – New Offshore Installations

APAC 6311 MW ( China 5050, Taiwan 1175 ); Europe 2460 MW (UK 1179, France
480, Netherlands 369, Germany 342, Norway 60, Italy 30, Japan 84)
Market Status – Cumulative Offshore Installations

China has become the worlds' No 1 in cumulative OFS installations since 2021
More record-breaking years are expected from 2025 onwards
• With a compound average
annual growth rate of 6.3% until
2026 and 13.9% up to the
beginning of next decade, new
installations are expected to more
than double from 21.1 GW in 2021
to 54.9 GW in 2031, bringing its
share of global new installations
from 23% to 32% by 2031;

• Over 315 GW of new offshore

wind capacity will be added over
the next decade (2022-2031),
bringing total offshore wind
capacity to 370 GW by the end of
2031- close to GWEC/IRENA’s
target of 380 GW by 2030 for a net
zero pathway.
The market will become more diversified in the second half of next decade
• Of the 315 GW of new
capacity expected to be built
in 2022-2031, 88% will come
from Europe (44.7%) and Asia
(43.3%), followed by North
America ( 10.1%), Pacific (1%)
and LATAM (0.9%);

• Europe and China made up

France 97% of total offshore wind
Denmark Netherlands installations by end of 2021,
Europe but this situation is likely to
change with their global
market share expected to
drop to 84% in 2026 and 80%
in 2031, primarily due to the
expected growth from
emerging markets in APAC
and Americas.

Asia
Global floating wind outlook increased by 14% from last year’s report

• Following a decade of testing first in

Europe and then in Asia, today
floating wind has entered the pre-
commercial phase with the current
global floating project pipeline
already reaching 120 GW;

• GWEC Market Intelligence has

upgraded its global floating wind
forecast and predicts 18.9 GW is
likely to be built globally by the end
of this decade, of which 11GW will
be in Europe, 5.5 GW in Asia and
the rest in North America;

• The UK, South Korea, United States,

Spain and Ireland are likely to be
the top-five floating markets by the
end of this decade.
 Asia through to 2031 Asia replaced Europe as the
leading regional offshore wind
market in new installations for
the first time.
Offshore wind growth to 2031 in Asia The market will become more
diversified in the second half of
New installations, Asia Rest of Asia Vietnam S. Korea China this forecast period.
GW, offshore
India Taiwan Japan
X%
Share of Chinese 16.670 17.250 18.420 Projects are expected to come
offshore market 0
14.900 0
500
600
500
online in Japan, South Korea
0 500
500 800 1.000 1.000 and Vietnam from 2027
CAGR*1.000 19.100
17.788 CAGR* 600 870
+6.8% 1.250
1.320 onwards.
779
0
-5.0 % 300 1.000 1.0
600
0
0 1.000
1.000 New markets such as India and
0 13.2640.0
0 13.750
1.0 1.500 1.500 1.200
500 0 500 0 the Philippines will also come
0
0.0 0 1.500 1.500 1.500 2.0 1.500 1.300
2.0
109 1.964
300 1.500 350 1.500
online.
0 9.562 0 400
1.0
500
1.5 1.5
0. 16.900 0 7.539 0 642
450
1.0 1.0 As a result, China’s market share
5.881 0 430 170 1.0
360
1.092
17 300 11.000 11.000 12.000 12.000 12.000 12.000 in this region will decline from
10.000
6.0 80% in 2026 to 63% in 2031.
1.373
148 0 8.000
5.5 5.5 6.0
4.04.000 0 5.0 5.0 5.0
6.000
3.0 3.5 3.5
2.4
2021 2022e 2023e 2024e 2025e 2026e 2027e 2028e 2029e 2030e 2031e
72% 70% 65% 63%
95 % 68% 80% 84% 75% 80% 74%

* CAGR = Compound Annual Growth Rate

Source: GWEC Market Intelligence, June 2022

GWEC I Global Offshore 2022

Supply Chain Challenges
Evolution of wind turbines

Source: Orsted
Building scale and amortizing supply chain investments

2013 -6MW started. iPhone 5S (8MP –165m) 2016 -9.5MW started. iPhone 7SE (12MP-160m) 2022 -15MW started. iPhone 13 (12MP –40m+)

100 units 2.3MW = 230MW

100 units 6MW = 600MW
100 units 9.5MW = 950MW
100 units 15MW = 1.5GW

China volume was mainly serviced by Chinese manufacturers. Vestas, GE, Siemens Gamesa need at
least a total of 4.5GW year on year to keep factories fully utilized. Europe installed 3.3GW last year.
Investments intervals in new technology – evolution & revolution
15 The race for more powerful and
14 better offshore wind turbines.
13
12
11
10
9
MW

8
7
6
5
4
3
2
1
0

Solid line: the installation has been completed; Dashed line: new product was released but the protype is not
installed yet.
Source: GWEC Market Intelligence, March 2021
Increase in material costs

• 90% of offshore wind turbine is steel.

Last two years, steel prices have
increased by 50% from the start of
2020 to the end of 2021, and are
being further impacted because of
the invasion of Ukraine.

• The offshore wind industry also

depends on copper for cabling
and electrics, yet is having to
manage price increases of 60%.

• Prices for neodymium and

dysprosium, the two key rare earth
elements (REEs) for direct drive and
hybrid drive wind turbines, have
tripled in price over the same
period.
Increase in logistical costs
• Delivery timescales of some key
components to increase from five
weeks to 50 weeks

• Freight costs have also risen: Spot

rates for a 40-foot ocean freight
container from Asia to the US
reached a record-high – 10 times
higher than rates just a few years
ago.

• Turbine prices for future projects are

forecast to rise by 9% in the second
half of 2021.

• Very challenging for wind energy to

continue to compete for razor-thin
margins in tenders and
procurement schemes

• Impacting the industry’s ability to

invest in supply chain growth and
innovation.
Local content, Ports and Vessels
• In many markets, increased scale
has led to increase demands on
inbound investment.

• In growing markets like South Korea,

Japan, Taiwan and Vietnam there
are differing expectations on local
content.

• Offshore Wind requires very specific

port infrastructure and investment is
needed now

• Installers also need to invest in new

vessels and equipment to
successfully install larger turbines.
Vessel capacity could be a
potential barrier in the future.
New investment in WTIVs is much Needed to Ensure Delivery
• Globally speaking, no bottleneck is expected for WTIV
vessels in the next five years (2022-2026).

• In Europe, the current WTIV supply chain can copy the

demand as the annual offshore wind installations is
relatively flat and unlikely to reaching 10 GW milestone
until 2026, which explains why European operators can
release their jack-up and heavy lift vessels in the next
two years to support the demand from emerging
12% markets in Asia, mainly Taiwan and Japan, and USA.

• Looking at the supply chain situation in the period of

2027-2031, however, a bottleneck is likely to occur from
75% the end of this decade in Europe unless investment in
new WTIVs will be made before 2027 (assuming 3 years
lead time).

• In United States, currently only two tailor-made WTIVs

are under construction, to avoid bottlenecks, WTIVs
currently under the planning stage has to be executed
in the next 2-3 years in order to copy Biden
Administration's 30 GW offshore wind by 2030 target. To
Source: GWEC Market Intelligence, October 2022 reach the target, 4-5 WTIVs and 4-5 Heavy Lift vessels
will be required according latest NREL study.
 Global Wind Turbine Supply Chain Footprint_Nacelle

Heading in this
• Globally, there are 153 turbine

space
Main text to go in this space Asia
China Europe India USA LATAM Africa&ME Total assembly in operation with 72
Pacific
under construction.
Total number of nacelle assembly
•Bullet
facilities (onshore)
77 (4) 17 13 4 5 3 1 124 • China is the world’s largest
turbine nacelle manufacturing
•Bullet
Total number of nacelle assembly hub, with more than 100 nacelle
20 (1) 5 0 0 0 3 0 29 assemblies in operation (inl. 5
•Bullet
facilities (offshore)
from western OEMs) and another
64 under construction;
Number of nacelle assembly
47 1 0 3 0 4 0 55
facilities (offshore) announced plan • India is becoming the second
largest turbine assembly center
in Asia Pacific as European and
Number of nacelle assembly
17 0 2 0 0 0 0 19 Chinese turbine OEMs are
facilities (onshore) announced building more capacity in this
market;
Note: (x) nacelle facility owned by Western OEMs in China)
Source: GWEC Market Intelligence, February 2023
 Challenges in Global Offshore Wind Supply Chain_Nacelle
(Preliminary data, don’t disclose)

(725 units) (1000 units) (1950 units)

(750units) (1075 units) (1750units)

Legend Green: Sufficient

Red: Potential Bottleneck

Source: GWEC Market Intelligence, February 2023

Other growth drivers
Private enterprise lining up to get onboard

Source: RE100
 Three things making a difference + 1 potential

Power to X

Energy Islands

Water depth no barrier – Soon scale

Industry Initiatives
 Global Offshore Wind Alliance + Ocean Energy Pathway

• IRENA, Government of Denmark and

GWEC joining as founding
organisations of the Global Offshore
Wind Alliance (GOWA), a multi-
stakeholder initiative to raise ambition
to accelerate deployment of offshore
wind to 2,000 GW by 2050

• Belgium, Colombia, Germany, Ireland,

Japan, Netherlands, Norway, Uk, USA,
Australia, Portugal, Spain, St Lucia &
Trinidad and other ready to join.

• Focus areas include:

- MSP /Stakeholder engagement
- Market design
- Green jobs, supply chain
collaboration

30
 Ocean Energy Pathway

• OEP will be an offshore wind delivery

accelerator. Working with global
governments around the world, it will
provide a one stop shop for technical
and policy assistance for country
governments wishing to expand offshore
wind
• The initiative will partner with governments
to support regional capacity building,
establishing regional centers of offshore
wind knowledge and expertise
• The program is designed to
complementary to GOWA, and will
support global governments in delivering
against their ambition by helping them
design delivery roadmaps.
Questions?
 Europe will maintain double
Europe through to 2031 digital growth rate in the this
decade, as:
1) fixed-bottom offshore wind
Offshore wind growth to 2031 in Europe has become a competitive
electricity generation
UK Denmark France Poland Norway
New installations, Europe
CAGR* technology
GW, offshore Germany Netherlands Belgium Ireland Rest of Europe
+22.8%
2) progress continued in2.0
17.638
26.500
1.000
29.350 commercialisation for1.0
1.240
500
23.250 1.000 floating wind that will1.0
unlock
CAGR* 15.048 500 5.600
+25.9% 300 1.200 1.200 4.800 1.000
the potential in deep-water,
2.0
1.498
0
700
2.850 2.02.000 1.250 3) European Commission
1.200 1.0 1.0 0
32
4.953
6
700 1.000
1.0
1.500
1.500
1.0
700 1.500
7001.02.000 presented offshore 4.0
0 88
7
11
1.000
1.0 1.0
1.500 1.0
3.000
1.03.000 renewable energy strategy
17 850 3.000
4 0 0 445
10 10.489 0 1.8
2.368
2.0 2.0 2.03.000 setting a target of 300GW of
0 0
0
0 0 1.2 3.000
3.000
0 0
0
0 7.380 0
375
1.320 700 2.000
3.000
4.500
5.000 offshore wind by 2050
0 480 534 350 2.000 4.000
2.000
3.317 0 770
1.028
1.5
0
1.400 0
270
4.0 980 3.8
2.000 3.8 3.8 4.0 4) Europe’s Power-to-X
3.174
2.3
2.975 3.0
958
700
1.8
605 392 0 1.529
0.9
345 45 1.800 992 4.596 720 4.500 4.500 5.000 5.500 6.500
ambition offers market
2.317 0 1.462 342 1.750 267 1.661 718 2.143 250
2021 2022e 2023e 2024e 2025e 2026e 2027e 2028e 2029e 2030e 2031e growth opportunity for
* CAGR = Compound Annual Growth Rate Source: GWEC Market Intelligence, June 2022 offshore wind.

GWEC I Global Offshore 2022

 Europe through to 2031 by market

Unit: GW 2027 2030 2035 2040 2045 2050

Total added between 2021 and 2031
EU ≥60 ≥300 GW, offshore
UK 50
Germany 30 40 ≥70 2.0
12% Rest of Europe
Netherlands 22.2
27% 2% Norway
1.0
Denmark 10.2 4% Ireland
1.0
Poland
140.8 8%
Belgium 5.7 Belgium
2.0
GW 3% France
France 18 40 Netherlands
15% 7% Denmark
Poland 10.9* Germany 4.0
13%
Norway 30 10% The UK

Ireland 5 30
Spain 3

Esbjerg Declaration** ≥65 ≥150

* Either in operation or under development by 2027

** Countries set joint target through Esbjerg Declaration include Germany, Denmark, Belgium and the Netherlands
Source: GWEC Market Intelligence, June 2022

GWEC I Global Offshore 2022

 North America
Utility-scale offshore wind Offshore wind growth to 2031 in North America
project to come online in New installations Canada North America
2023. GW, offshore CAGR*
+71.0%
In total, 31.9 GW of offshore 4.718
4.350 4.400
wind is predicted to be built 0 4.000 4.000 4.000 4.000
0 400
in this region in the next ten 0 0 0 0
years (2022-2031)
1.524 4.718 4.350
Biden set 30GW by 2030 0
4.000 4.000 4.000 4.000 4.000
945 4.2
target. 0 0 0 1.524 2.9 3.2 3.0 3.0 3.0 3.0
945
After the 800MW Vineyard 0 0 0 0
Wind 1 received final 2021 2022e 2023e 2024e 2025e 2026e 2027e 2028e 2029e 2030e 2031e
approval in May 2021, * CAGR = Compound Annual Growth Rate
construction in Source: GWEC Market Intelligence, June 2022
BOEM has issued 25 commercial and 10
Massachusetts in November. competitive offshore wind energy leases
US State-level offshore wind development targets
The 132 MW South Fork wind Maryland 1.2GW (2030)
Connecticut 2GW (2030)
in the Atlantic Ocean ranging from
project also received the New York 9GW (2035)
2,4% Oregon 3GW* (2030) Massachusetts to North Carolina with a
federal approval 18,2% 4,0%
6,1% 6,1%
California 3GW* (2030)
combined capacity of 6.9 GW
construction phase in 2021.
10,1% Louisiana 5GW (2035)
16,2%
49.5 GW
BOEM is ready to hold the first-ever
10,5% (floating) offshore wind lease sale on
North Carolina 8GW (2040) 15,2%
11,3% Virginia 5.2GW (2034) West Coast in Q4 of 2022
New Jersey 7.5GW ( 2035) Massachusetts 5.6GW (2027)

* Announced plan, not yet signed by law

GWEC I Global Offshore 2022
Markets to watch

Near Term
• Vietnam
• Taiwan
• India
• Brazil
• United States
• Japan
• South Korea
• China

Mid Term
• Ireland
• Columbia
• The Philippines
• Australia
• New Zealand?
Policy to enable growth
The role of seabed leasing for offshore wind
• In offshore wind, the conversation must also extend to leasing processes. At present we do not
see volumes of seabed release aligning with offshore wind targets.

• This is creating artificial constraints in the market, raising costs, which ultimately will be borne by
consumers.
Some best practices in leasing

Leasing should cover Marine spatial Tendering should

both Territorial Waters planning (MSP) should Leasing processes commence with a
and Exclusive be used to identify should be robust and prequalification
Economic Zone to large sea areas. A transparent, to reduce questionnaire (PQQ)
maximise opportunities pragmatic and the possibilities of legal stage to ensure
in each country. proportional challenges. tenderers have the
approach can be . capability to deliver
utilised. on projects.,

Leasing should be kept Sharing of survey data Depositing health and

simple and encourage into the public safety (H&S) data into Regular release of
the pace of domain, which allows an industry accepted seabed, for example
development while other sea users to system allows every 2-4 years, to give
maintaining flexibility in become informed. improved H&S a steady flow of
the light of unforeseen completed. management for the projects.
obstacles. good of all.
Streamlining permitting is a necessity

• Average of 9 years from award of

Average years of offshore wind lease award to full commissioning offshore wind lease to full
commissioning (ranges from 4-15
years across markets)

• There is a global need to create more

efficient and streamlined processes –
the main bottleneck to growth is time

• Simplifying permitting can enable

greater investor certainty and larger
market volumes, which in turn
Source: RenewableUK; GWEC Market Intelligence supports healthier competition in
auctions and more sustainable
development of supply chains
Actions to streamline permitting

Build digitised,
Dedicate centralised
Invest in more staff searchable and up-to-
maximum lead times authorities and single
and digital resources date databases for
to permit wind plants. focal points to work
for the various land registrations and
From three to 1.5 years with renewable
authorities. siting of renewable
developers
energy projects,

Align land and ocean Promote active Implement an

use guidance at dialogues between emergency clearing
national and sub- local authorities, house mechanism for
national level, include communities and legal disputes to
designation of industry for shared prevent extended
promotional “go-to” understanding of delays to critical
zones. priorities. infrastructure projects,.
Sian Wilson
Head of Offshore Development
(Infrastructure and Emerging Technology), Crown Estate Scotland
Oliver Davey
Senior Maritime Engineer, ARUP
 Offshore Wind -
Windward Lessons
Emerging infrastructure & supply chain
trends from Australia to New Zealand
Oliver Davey (Arup) – New Plymouth New Zealand
Oliver Davey | Senior Maritime Engineer | Arup UK
Offshore Renewable Energy Forum
8th March 2023
8th March 2023
Contents
Winds of change

• Australian Market
• The Infrastructure Ask.
• Fixed Wind Construction Ports – Challenges.
• FOW Construction Ports – Challenges.
• O&M – Challenges
• Supply Chain – National Interest.
• Market Challenges.
• New Zealand Opportunities.
• What Next.
Location of Australian Offshore Wind – © NOPSEMA
 Australian Market
Current Context – Australian States

• Gippsland Feasibility Licences due

(April 2023) – Anticipated 5-6 Leases (>15-Applications expected).

• EnergyCo have gone out for consultation on the NSW

Hunter Zone and announced Illawara REZ.
• Western Australia expected to soon follow.
• Potential for up to 40GW+ by 2040.
(~2,000 turbines installed)

© Arup
Gippsland - East Gippsland - West NSW WA Potential Areas:
© Arup
Infrastructure Ask
Overview of the driving criteria

• WTGs: 15-20GW Manufacture & Marshalling & Operations &

fabrication Assembly Maintenance
(Integration)
3-Infrastructure Roles
Location Specific

© Arup’s Foundation Sizing Tool

• 9 Different foundation typologies:
– Monopiles (<40m Water)
– GBS (<40m Water)
– Jackets (40-70m Water)
– 5 Floating (>70m Water).
 Infrastructure Ask Repowering is a holistic consideration of:
Cycles of Development - Residual technology life
- Financial life
Initial wind Sharp peak coupled with multiple - Sustainability / Whole life carbon
farm build out projects in a single round causing a higher
chance of congestion, delays, price peaks
Increasing
Level of port activity

and potential for stranded infrastructure

investment. Wind farm
WTG size
Approximately Wind farm repowering Decommissioning
2-4 years repowering
Life extension

O&M Period
Approximately 15-20 years

Approximately 2-years
Time
Foundation Fabrication Port Project No.1 Construction Port O&M Port No. 1

WTG Fabrication Port Project No.2 Construction Port O&M Port No. 2
Fixed Wind
Construction Port – Challenges & Opportunities

• Limited Ports with sufficient area coupled with deep

water access and berths.

© Port of Esjberg
• Multiple proposals out for infrastructure
development.
(Each port requiring ~$1 Billion AUD of upgrades).

• Port of Hastings (PoH), stated as the preferred port

(Victorian government) to develop OSW
Construction Port.

© Jean Pierre Van Lieshout, BOW Terminal

[Arup have been delivering the preliminary design
and business case for the PoH].
 Fixed Wind
Construction Port - Challenges

• Australian Projects 2GW+

much larger than current
installed European projects.

• Vessel size increasing

© Jan De Nul
(driving the navigation and
berth requirements up).
30
18MW WTG Units
25
• Proximity to the major
20
international supply chain
Stock Level

may need to increase the % 15

Buffer Storage. 10

• Distances to port 0
0 100 200 300 400 500 600 700

implicating Installation. Days

© Arup
Blades Towers Nacelles Site Marshalling Capacity Oversupply Threshold Undersupply Threshold
Floating Offshore Wind
Construction Port Challenges

• 4 floating platform typologies

– >50 different platform technologies.

© Arup
– Steel vs Concrete (parameter uncertainty).
– Multiple different logistics options:
Floating Wind Marshalling & Integration

WTG Marshalling Port Area

• Additional port needs for Ancillary Elements: 20 - 30ha

– Chains, ropes, steel wire. Foundation Storage

40-50 ha (wet) or 25 ha (dry)

– Anchors (drag, pin, suction bucket).
Quay Length
– Dynamic HV cables required.
600m

Quay Depth

© Arup
12-16m
Floating Offshore Wind
Construction Port Challenges
• Lack of suitable vessels:
– Semi-submersible barges (overhang).
– Anchor Handling Tugs (limited tow capacity).
© Principle Power (Right) Mammoet – Kincardine FOW (Left)

• Deep water Navigation & Quays Required.

• Airport Air Draught Risk.

• Wet Storage Limited Availability.

© Arup
© ABP - Port Talbot

© Arup
© Arup
 75km (41 nm) Distance 150km (81 nm)

O&M Facility 1 no. No. Windfarms ≥1

0.5-1 t 10t
Payload
(davit crane) (vessel crane)
1 day Time in field Up to 4 weeks

10-15 pax Personnel 100-150 pax

1.5-2.0m Sea State (Hs) 2.0-3.0m

CTV SOV
Navigational Draft
2.5-3.0m 6.0-8.0m
Individual Berth Length
30-35m 65-80m
Berth Beam
14-16m 20-25m
O&M
Trends
• Location, Location, Location.

• Larger vessels (CTV to SOV)

• Opportunities for shared warehousing & buildings

© 4COffshore
– Multiple developers, common technology providers
Supply Chain – National Interest
Incentivising Local Content

• Limited manufacturing in Australia of components of

specification suitable for OSW.

• Need to leverage and grow off the organisations

involved in:

© Heavy Haulage Assets

– Mining;

© Keppel Prince
– Oil and Gas
– Onshore Wind.

• Developing (???)% of Local Content & clear strategy.

• Need to work with Maritime Unions and Tier 1

Contractors to manage the crew and skills.
Market Challenges ???GW by 2050
Incentivising Local Content Need clear targets to
• Long-term pipeline certainty to encourage enable commitment.
investment. Vessel Type Global Fleet No.
Semi-Submersible* 44
Anchor Handling Tug** 33
• Limited number of Vessels & Tier 1 Offshore Support Vessel (OSV) 69
Contractor Capacity. Offshore Installation Vessel 28 (>3,000t Crane Capacity)
(OIV)*** 14 (>5,000t Crane Capacity)
*Values based on the IMO Database of Heavy Load carrier, Semi-Submersible Vessels between 12,000 – 50,000dwt.
• Managing peak and troughs of workload **The AHTs are noted in the 4C Offshore Database as ‘Support Vessels’ - including vessels such as the ‘Manta’.
*** Based on the categorise in 4C Offshore Database of: Heavy Lift Vessels and Semi-Submersible floating platforms with crane capacity

Marshalling Port (Construction) Revenues

(2-4years) can be more intermittent, Economic Benefit
depending on project pipeline. GVA
Jobs
• Infrastructure upgrades (looking beyond):
Ref. ORE Catapult Arup
– Requirements (Now & Future)? FOW-PR19-Strategic-
– Who pays? Infrastructure-
Development-Summary
– Who takes the risk? Report
– How Long to Develop (4-8 years)?
NZ Opportunities
Incentivising Local Content

• Benefit from any supply chain manufacturing

capabilities developed in Australia.

• Reduce project mobilisation costs if projects

© Elemental Group
building off the back of Australian projects.

• Learn the Lessons on Infrastructure upgrades:

– Port selection processes.
– Sustainable development of sites.
– Consider secondary complimentary uses.

• Consideration of the wider integration and

development potential in conjunction with
other energy infrastructure.

© Arup
What Next:
• Significant global growth in
OSW.
• Need to develop Supply Chain
© Renewables UK (June 2022 Report)
(locally & linked).
• Power to X (Hydrogen, other)
• Regional interconnectors
– Australia Singapore.
– Japan / Korea / Philippines.
– Energy trading.
• O&M Evolution

© SunCable
Get in touch

Happy to take any

questions:
Oliver Davey
Senior Port Engineer
London office

[email protected]
Key contacts

Oliver Davey Damon Sunderland

Senior Maritime Engineer Australasian Offshore Wind Lead and WA Energy Business and Team Lead

t +44 20 7755 8065 t +61 8 9327 8309

e [email protected] e [email protected]

Sydney Office: Level 5, 151 Clarence Street, Sydney Perth Office: Level 14 Exchange Tower 2
New South Wales 2000 The Esplanade, Perth Western Australia 6000

Blue Marlin Offshore Wind Project | Vena Energy 17

Nathan Turner
Country Manager (NZ), BlueFloat
BlueFloat Energy & Elemental Group
Offshore Wind in Aotearoa
About our partnership
A leading offshore wind
1. Working together since early 2021 developer with a global
pipeline of fixed and
2. We bring together complementary skills – global offshore wind floating projects
expertise with local energy project experience
3. We aim to accelerate the energy transition whilst encouraging new
industry and benefitting local communities A pioneer in the offshore
wind sector in New
4. We have a strong focus on partnerships and collaboration Zealand

5. We are actively supporting the growth of the industry

 BlueFloat is Highly Active Across a
Global Offshore Wind Market

• Backed by 547 Energy and Quantum Energy Partners

• >$17Bn in assets under management
• Decades of experience in developing, financing and
operating energy projects around the globe
Elemental Group Limited
Elemental Group is an energy developer and consultancy dedicated to delivering solutions for a world in
energy transition. We are a hard working, innovative team, providing services across the energy sector.

With beginnings in the offshore oil and gas sector we have firsthand knowledge of the challenges
working offshore entails. Since 2014 our team has been increasingly focused on renewable energy,
delivering wind, solar and battery projects in New Zealand and Internationally. We helped deliver the
London Array offshore wind farm and prepare the Taranaki offshore wind discussion paper.

Elemental Group is committed to the successful transition of the energy industry in New Zealand and
Taranaki’s role as our energy capital.
Our strong local team in Aotearoa
Justine Gilliland Toko Kapea Kate Bromfield Nick Jackson
Partnerships Director Iwi Engagement Manager Elemental Group Director Elemental Group Director

Bianca Ruakere Brett Rogers

Communications Manager Elemental Group Director

Jarek Pole Nathan Turner

Senior Development Advisor Country Manager
South Taranaki Offshore Wind
A fixed-foundation offshore wind project located
approximately 22km off the coast and outside the
marine mammal sanctuary

1. World-class offshore wind resource

2. Experienced offshore workforce with local

training institutions able to support their
transition

3. Strong supporting infrastructure in place

including Port Taranaki and electricity
transmission network

4. Energy intensive local industry with

opportunities in electrification and power-to-x

5. A strong opportunity to support local

communities and the local economy to thrive
through the energy transition

900 MW ~437,400 ~600

Employment
Capacity Powered Homes
opportunities
South Taranaki Offshore Wind
Waikato Offshore Wind
A phased offshore wind project located
approximately 22km off the coast and outside the
marine mammal sanctuary

1. Close proximity to significant electrical load in

Auckland

2. Access to the core transmission grid backbone

and proximity to Port Taranaki to support the
construction phase

3. Energy intensive local industry with

opportunities in electrification and power-to-x

4. New renewable generation required due to the

need to transition the Huntly coal-fired turbines

5. A strong opportunity to support local

communities and the local economy to thrive
through the energy transition

>1,000 MW >700,000 >1,000

Capacity Powered homes Employment
opportunities
Key Barriers and Enablers for the Offshore Energy Sector
Key Barriers & Enablers
Enabler - Regulatory Certainty
1. Interim Framework (Feasibility)
2. Long Term Framework (O&M)
3. Timing of Implementation
Key Barriers & Enablers
Enabler – Long Term Targets
1. NZ has the skills and talent to play a
significant role in offshore wind supply
chains
2. Investment will be required in equipment
and capability to capture this opportunity
3. Long term targets for offshore wind provide
incentives for this investment to maximise
the benefits for local communities and
businesses
4. Let’s build an industry together, not just
projects
Key Barriers & Enablers
Enabler – Supporting Infrastructure
1. Strong supporting infrastructure is critical to
the industry’s development
2. This includes Ports & Transmission networks
3. Upgrades can be significant projects in their
own right
Key Barriers & Enablers
Enabler – CFDs or PPAs
1. NZ Wholesale Power Prices now
consistently in the $150-$200/MWh
range
2. >500MW per annum of new
renewable generation required to
meet growing demand looking
conservatively at domestic
electrification only
3. Current market dynamics are not
encouraging enough new generation
to come to market
Ngā mihi
Giacomo Caleffi
Senior Business Development Manager, COP
Maunga
Taranaki

Taranaki Offshore
PartnershipMarch
2023
The partnership

NZ Super Fund
We are a long-term, growth-orientated Crown investor that
manages approximately NZD 60 billion of investments –
including almost NZD 9 billion in New Zealand on a commercial
basis.

Copenhagen Infrastructure Partners (CIP)

We are a fund management company, working predominantly
with institutional investors. We have an ambition to increase our
clean energy investments to over NZD 160 billion by 2030. We
already manage the world’s largest dedicated greenfield clean
energy fund – CI IV, with NZD 12 billion in commitments.
CIP – Leaders in Offshore Wind
The team
Star of the South Vineyard Wind
Australia USA

Changfang and
Xidao
Taiwan Veja Mate
Germany
Taranaki Offshore Wind project
The team

25-40km off the coast of South Taranaki

Water depths 25-60m

Up to 70 fixed offshore wind turbines

Up to 1GW installed capacity in the first stage

(option of a second stage for a total capacity of 2GW)

Predicted capacity factors of 50-55%

The team
The team
Steering
NZ Super Fund CIP
Committee

CEO

Matt Will Brendon DJ Catherine Charles Michael Jørn Per Hjelmsted

Whineray Goodwin Jones Govender Etheredge Rattray Hannibal Hammer Pedersen

Corporate Public and Engineering and Permitting and Commercial and

Services Regulatory Affairs Procurement Consenting Project Management

Amelia Jasmine Matthew Kate Myles Mathieu Pernille Giacomo Sarah

Hanscombe Davey Stuchbery Moriarty Daniel Pichault Skyt Caleffi Holmes

Mark Mike Matthew

Kein Munro Gill
Project timeline

3-5 years 2 years 25-35 years 2-3 years

Feasibility and Construction Operation and Decommissioning

development maintenance or repowering

Approvals and licence

needed to proceed
 Feasibility and Development
Feasibility Financial
license close
Concept development Environmental surveys

Wind monitoring

Iwi and EIA and approvals

community Constraints
engagement mapping

Environmental technical G&G1 G&G2

working group

Industry Capability
Engineering
Mapping concept FEED Detailed design
Market
investigations
Preliminary soil
investigations Global procurement

Fisheries Port
study studies
Offtake
Activities
Assessment of O&M ports
Floating Wind Measurements
Industry Capability Mapping

Port Taranaki study

Environmental Working Group Fisheries assessment
 Global supply chain – Network model
~1200 people working on CIP projects

Financial Legal
Together with its services ~4502 services
network companies,
CIP has a large Project
Technical
management
employee base and a design
broad set of ~5001
competences Risk Quality
management Assurance

~250
EPC
management Technical
management

Logistics Construction
planning management

Management Offshore
company Performance project Asset
monitoring employees management
Fund-owned/
Exclusive advisor
Stakeholder Offshore
Semi- or non-exclusive management
advisors
Various levels operations
of exclusivity
Engineering Operations
services Management

• Notes: 1) ~140 COP FTEs, ~320 offshore project FTEs and ~40 CISC FTEs; 2) Including estimated part of FTEs working on CIP projects. Also
includes a few companies not shown with logo.
MBIE Discussion Paper

✓ Strong support for permitting approach, with elements of

collaboration, especially for first developments

✓ Valid criteria
Effectiveness
Certainty
Timeliness

✓ Tie-in with Energy Strategy – eg setting targets

✓ Māori involvement
Partnership
Kaitiakitanga
Champions of offshore wind
Thank You
For further information:
taranakioffshorewind.co.nz
[email protected]
Peter Spencer
Country Manager (NZ), Parkwind
Andy Evans
CEO, Oceanex AU
 8 March 2023

Oceanex Energy Offshore Wind Farm

Developments in Aotearoa New Zealand
An overview of Oceanex’s Australian and Aotearoa New Zealand portfolio and opportunities and benefits for Aotearoa New
Zealand and useful steps based on the Australian experience
 oceanexenergy.com

Overview Page
Oceanex Team

Oceanex Projects ANZ

Benefits for Aotearoa NZ

Offshore Wind – The Real Narrative

Supply Chain Opportunities

The Next Steps

 oceanexenergy.com

The Oceanex
Team
Oceanex Energy’s ownership is comprised of Andy Evans, Peter
Sgardelis and international investment with significant experience
CEO CDO
in infrastructure development and construction and leading
advisory experience in renewable energy (especially offshore Andy Evans Peter
Sgardelis
wind). Together, the ownership team brings local and global
knowledge and experience in establishing and growing the Andy Evans is the CEO and a Peter Sgardelis is the Chief
founder of Oceanex Energy and Development Officer and a
offshore wind industry in Australia with strong financial also the former CEO and a co- founder of Oceanex Energy and
founder of the Star of the South also the former COO and a co-
experience and support to grow a thriving new industry for (proposed 2GW offshore wind founder of the Star of the South.
Australia and New Zealand. farm off the coast of Victoria).
 oceanexenergy.com

The Oceanex
Portfolio - Australia
and NZ

Oceanex is developing up to 5 projects off the coast of NSW and WA with

generation capacity exceeding 10,000MW and up to 3 projects off the
coast of New Zealand with a generation capacity exceeding 3,000MW.
Each project is strategically located close to a strong offshore wind
resource within proximity industry and employment centres, key
electricity load bases and key grid infrastructure with upcoming capacity
and availability
 oceanexenergy.com

The Oceanex Australian

Portfolio
Foundatio Commencemen
Area km² Indicative MW Distance shore Ports Completion
n t

Hunter/
Floating 495 2000 30 km Newcastle, 68km 2028 2031
Newcastle

Illawarra/
Floating 493 2000 27 km Port Kembla, 40km 2028 2031
Wollongong

Eden Floating 493 2000 20 km Port Kembla, 315km 2031 2034

Ulladulla Floating 496 2000 21 km Port Kembla, 99km 2032 2035

Bunbury Fixed 494 2000 32 km Fremantle, 52km 2033 2036

 oceanexenergy.com

The Oceanex New Zealand

Portfolio
Foundatio Commencemen
Area km² Indicative MW Distance shore Ports Completion
n t

Taranaki A Floating 499 1000 20km+ Port Taranaki 2028 2031

Taranaki B Fixed 497 1000 20km+ Port Taranaki 2028 2031

Waikato Floating 498 1000 20km+ TBD 2030 2033

 oceanexenergy.com

ALL PROJECTS Potential Economic and Regional

Benefits for 1GW NZ Projects
Standard Projections: Development and construction of a 1GW project as forecast for New Zealand based on Australian equivalents
as modelled for Star of the South and Oceanex portfolio

NZ$4b+ 2,000+ 35-65% 200

Estimated capital Estimated direct jobs per Estimated local content Estimated local jobs per
expenditure per project project during the used to construct offshore project during the
(1,000MW) PLUS >$200m construction period of 3-4 wind during construction operations and
development expenditure years (per project) period maintenance period (30
per project for up to 5-7 years)
year period
 ANZ Offshore First offshore wind Exploration Rights provided by
Australian Government to Star of the South and
Australian Government introduces Regulatory
Framework (Offshore Electricity Infrastructure Act
2021 (Cth)) to enable offshore wind projects – Act
first introduction to New Zealand Government for

Wind History
First Australian offshore wind developer established
Oceanex Founders passed on 25 November 2021. Effective from 2
June 2022.

Granting of first offshore wind rights in Australia

(Exploration Licence granted in respect of Star of the Oceanex announces New Zealand projects (May
(Offshore Energy/Star of the South – includes the
South) 2021)
Oceanex Energy Co-Founders)

2015 2020

2012 201 2021

to governments (Star of South)
9
First Australian offshore wind project introduced Oceanex Energy created to progress portfolio of
projects off Australia and New Zealand

Introduction of first project (Star of the South) to To facilitate development of an offshore clean energy industry, the Cth Government
Australian and Victorian Governments – by two formally started the process to develop a regulatory framework to enable offshore
Oceanex Co-Founders as the Co-Founders of Star of the renewable energy projects (January 2020).
South
 oceanexenergy.com

Offshore wind provides large-scale clean, reliable, affordable electricity

that creates huge new investment and jobs to transform ANZ and its key

Why Offshore Wind – The regions. Offshore wind provides many benefits that differentiate it from
other large infrastructure projects and proposed new sources of
electricity generation including:

Real Narrative

ELECTRICITY RELIABILITY AND MEETING KEY GOVERNMENT DOWNWARD PRESSURE ON

SECURITY OBJECTIVES PRICES
Large electricity supply and network Assisting Government meet policy Places downward pressure on
reliability with generation that meets goals whether environmental, energy, electricity prices due to large
peak demand periods. Wind blows employment, investment, social or injections of electricity supply into
longer/stronger at sea. otherwise the market when the market needs
power at peak times
 oceanexenergy.com

MARKET ACCESS USING LARGE INBOUND INVESTMENT INNOVATION/NEW INDUSTRIES –

EXISTING GRID – COAL EXITS HYDROGEN/TRANSPORT
Global investment in offshore wind
Utilisation of robust grid to increase 15-fold by 2040 - Enable acceleration of large
transmission infrastructure - grid attractive for long-term, local and hydrogen and electric transport
close to offshore wind resource international investors. industries and be a leader in
where projects planned to take progressing global floating
advantage of upcoming grid foundation technology for offshore
availability. wind

ENERGY IN RIGHT PLACES - R&D / EDUCATION LEADERSHIP EMPLOYMENT STIMULUS FOR

AVOID COMPETING USE Chance for R&D and education DECADES
Flexibility of site location to avoid leadership by developing regional Utilising a strong history in energy
environmental issues, and education, training and centres of generation, ports and marine
competing land use, visual and excellence for Asia Pacific region industries to transition to new
noise-based issues more familiar related industries with shared
with land-based projects skillsets
 oceanexenergy.com

What an
Offshore Wind
Farm Looks
Like

The prevalence of deep water off most coastlines (over

70 metres) provides flexibility to locate projects that
best utilise the excellent wind resources, grid access and
the potential provided by the advancement of "floating
foundation" technology which is developing quickly.
Oceanex projects planned 20km+ from coastline to
minimise visual amenity issues and access stronger wind
and floating foundations planned for at least 1
Aotearoa/NZ project
 oceanexenergy.com

Potential of Floating
Foundation Technology
The majority of the Oceanex portfolio has been designed to deploy floating
foundations (>70m water depth) which, when combined with excellent wind
resources and developed regional industries, are perfect to host such projects.
Benefits include:

- Access to more Ocean Site Locations

- Increased Local Industry Opportunities

- Reduced Seabed Impact

- Leverage Existing Industry Expertise (especially offshore oil & gas)

O C EA N EX EN ER GY

E N E R G IS IN G
A U S TR A LIA W ITH
O F F S H O R E W IN D

S U P P LY C H A IN A N D IN V E S T M E N T O P P O R TU N ITIE S TO B E
C R E A T E D B Y O C E A N E X E N E R G Y K IC K S TA R TIN G A F LO A TIN G
O F F S H O R E W IN D IN D U S T R Y IN N E W S O U T H W A LE S

M A R C H 2022
 ENERGISING AUSTRALIA WITH OFFSHORE WIND SUPPLY CHAIN AND INVESTMENT OPPORTUNITIES

Executive
Summary

“Australia has an opportunity to be an energy Benefits for NSW and Australia from Oceanex’s NSW
superpower, New South Wales will lead the Offshore Wind Portfolio (4 Projects, Total 8,000MW)
country…
Our major trading partners see as part of their $30b+ 3,000+ 35-65% 300+
energy future, this state has the skills,
infrastructure and renewable energy resources to Estimated capital
expenditure for 4 priority
Estimated direct jobs
per project during
Estimated local content
used to construct
Estimated direct jobs
per project during the
wind projects (8,000MW) construction period of 3-4 offshore wind during operations and
compete globally.” and $200m+ development years construction period maintenance period of 30
expenditure per project for a years
five year period
PREMIER of NSW, HON. DOMINIC PERROTTET MP

14 15
 ENERGISING AUSTRALIA WITH OFFSHORE WIND SUPPLY CHAIN AND INVESTMENT OPPORTUNITIES

Passing of Offshore Electricity Ramp up feasibility studies and NSW supply Final Investment
Infrastructure Act 2021 (Cth) chain analysis in NSW to support sustainable Decision made to
(Offshore Act) rapid growth of offshore wind industry construct first project Expanding supply
Construction Commences
Regulations to be introduced in Granting of Feasibility Licences with project Licence granted to construct Further projects delivered in
2022 to complete regulatory development expenditure expected to be first offshore wind farm in Oceanex’s first offshore wind NSW’s first NSW South Coast and Bunbury
framework including provision of
Feasibility and Commercial
$200m+ to get to Final Investment Decision to
then construct project
NSW under Commercial
Licence from Commonwealth
farm(s) commences
construction off the NSW
power from WA. Potential for 10,000MW
to be generated in Australia
Licences coast offshore wind alone
2022+ 2027
2021 2028 2030 2030+

Australia, and NSW, is undergoing an energy and economic

Given the deep water levels off the coast of NSW,
Oceanex will be utilising floating foundation technology
(where turbines are deployed
Why NSW?
transformation with the need for new, large- scale, energy
generation to help meet the needs of a growing population,
in water depths greater than 70 metres), a technology
that is seen as being key to further accelerating the
offshore wind industry globally and provides great
Why now?
retiring fleets of coal-fired power generators and the adoption opportunities for Australia to be an innovation leader
at the forefront of the development of a global floating
• Existing deep-water ports
of new technologies to power the future. offshore wind industry.
• Existing grid infrastructure and
For Oceanex to develop, construct, operate and capacity
maintain the Novocastrian and Illawarra Offshore
Wind Farms (as well as other projects planned for • Surrounding heavy industry and highly
NSW, Western Australia and New Zealand), it will
need a developed local supply
skilled workforce to support
Offshore wind energy, along with hydrogen The Hunter and Illawarra Regions have been chosen by manufacture and installation
production and the electrification of transport, are Oceanex due to existing grid infrastructure with the chain in key regions such as the Hunter and the
exciting new large-scale industries that can assist in capacity and availability to transmit large amounts of Illawarra that can be the base for delivering these
projects and work with the rest of the Australian and • Consistent winds allowing steady
creating many energy, economic, environmental, electricity (due to forecast coal-fired power station
technical and social benefits for Australia, its states, closures –over 10,000MW in NSW by the late 2030s), global supply chain. generation of electricity
local regions and consistent winds allowing steady electricity generation NSW, and the key regions of the Hunter and
communities and also meet many stated goals of the and the creation of many jobs for local workforces • Commonwealth and State policy
Illawarra, are well-placed to be the home of a
Commonwealth and State Governments. in key regions (such as the Hunter and Illawarra) with floating offshore wind industry to service framework that encourages
existing skillsets in related industries that can be NSW offshore wind projects, and other regions investment
Oceanex Energy (Oceanex), an Australian developer utilised for projects with a 40+ year life cycle.
with international investment, is prioritising the whether elsewhere in Australia, New Zealand or the
development of two offshore wind farms off the coast of Extensive studies conducted by Oceanex over a Asia Pacific region, due to the existence of deep- • Legislation passed in 2021 to support
NSW, the Novocastrian number of years, including this report, have borne water ports, experienced workforces, large-scale development of offshore wind farms
and Illawarra Offshore Wind Farms, with a out the suitability of the Hunter and the Illawarra heavy industries such as steel- making, power
total electricity output of 4,000MW and to be the home of a thriving new industry such as generation, mining, engineering and marine logistics
Executive Summary

creating thousands of jobs over a 40+ year life cycle, offshore wind. and a Commonwealth and State policy framework
which it believes will assist meeting a number of that encourages large infrastructure projects and
energy and economic objectives for governments, investment.
industry and local regions, especially the Hunter and
Illawarra Regions.

16 17
 ENERGISING AUSTRALIA WITH OFFSHORE WIND SUPPLY CHAIN AND INVESTMENT OPPORTUNITIES

Local Supply Chain

Opportunities
Oceanex has identified a significant amount of opportunities for the local supply chain in Australia, which we have
described in detail throughout this report. In summary, these are:
Table 1. Summary of Local (NSW and Australia) Supply Chain Opportunities

Capability Capability
Supply Chain Area Existing Potential
Potential with Export Supply Chain Area Existing Potential
Potential with Export
Investment Potenti Investment Potenti
al al

Survey Companies   N/A  WTG Assembly    

Development Engineering Design Services   N/A  Ports
Turbine Assembly    
Environmental Services   N/A  Installation Staging Limited   
Steel Manufacture     Upgrades    
Floating Foundation Substructure Fabrication
(Limitedat
  
Heavy LiftVessel  N/A Limited 
Substructure present)
Anchor Handling Tug Supply  N/A  
Suitable Fabrication Facilities     Cable Laying Vessels  N/A Limited 
Secondary Steel  N/A   Semi-submersible Barge  N/A  
Drag Embedded  N/A  
Vessels Tugboats    
Anchors SuctionAnchors  N/A   Construction Support Vessel  N/A  
Piled/Drilled  N/A   Dive Support Vessel  N/A  
Chain  N/A   CraneVessel  N/A  
Mooring Lines-Wind Synthetic  N/A Limited 
Turbine Service Operation Vessel    
Blade Manufacture  N/A Limited  Crew Transfer Vessel    
Tower Manufacture     O&M Vessel Maintenance    
Wind Turbine Nacelle Manufacture  N/A Limited Limited
Offshore Activities  N/A  
Gearing Manufacture    
Onshore Electrical Infrastructure (including
Onshore Activities  N/A  
Electrical substation and associated infrastructure)     Facilities Warehouse Construction    
Inter-array Cable  N/A   Manufacturing FacilityConstruction    
Export Cable  N/A Limited  O&M Facility Construction    
  Port Facilities    
Executive Summary

Offshore Substation Limited N/A

20 21
 ENERGISING AUSTRALIA WITH OFFSHORE WIND SUPPLY CHAIN AND INVESTMENT OPPORTUNITIES

Capability
Supply Chain Area Existing Potential
Potential with Export
Investment Potentia
l

Technology Development    
Infrastructure Development    
Marine/Subsea Foundation Development    
Services Front End Engineering Design    
Marine-Based Services    
Project Management Services    
Project Support Services    
Workplace, Health and Safety    
Decommissioning Mobilisation and Demobilisation (Vessel and
Infrastructure)    
Infrastructure and Component Recovery    
Offshore Wind Hub/ Academic and learning institutions based in
Centre of Excellence key regions    
Key industries and companies based in key
regions     Delivering Jobs for NSW
Key infrastructure based in key regions (ports,
grid/transmission,warehouses/ offices)
    Regions Photo courtesy of AMPControl

Oceanex Energy’s Novocastrian and Illawarra Offshore

Wind Farms will generate around 6,000 direct jobs
during construction plus a further 600 jobs over a 30-
Executive Summary

year operational life.

22 23
 ENERGISING AUSTRALIA WITH OFFSHORE WIND SUPPLY CHAIN AND INVESTMENT OPPORTUNITIES

The Ten-Point Plan for Progress

These key steps articulate a pathway for NSW and Australia to become a global leader in floating offshore wind and for
Oceanex to energise NSW with the development of a floating offshore wind industry.

Required Action Leader Area Required Action Leader Area

1 Policy formulation that supports large Commonwealth POLICY 6 Commitment to establishment of key Oceanex and NSW STRATEGY
investment as well as timely Cth Energy Government regions as ‘hubs’ and to be an innovation Government
Minister declaration of leader in Australia and globally in the
‘zones’ under the Offshore Act to allow floating offshore wind industry
developers to progress feasibility activities
Leverage synergies to accelerate and work
under a Feasibility Licence in designated
7 with other industries particularly in Oceanex and DELIVERY
areas
infrastructure and large-scale heavy industry Industry
2 Clear national strategy on offshore wind Commonwealth STRATEGY
Government Plan port infrastructure and adjoining land
articulating security of energy supply,
support required so that local supply chain,
economic benefits and attracting foreign
jobs and investment opportunities can be Oceanex and DELIVERY
investment 8
optimised Industry
3 Enabling frameworks that support national Commonwealth FRAMEWORK
and NSW Develop safe work practices consistent
and state government policies including
Government with the existing and developing WHS
prioritising an approval pathway to get to
framework to ensure the offshore wind Commonwealth FRAMEWORK
market expediently 9 Government and
industry in Australia thrives in a manner
Commitment from industry and Oceanex and STRATEGY that values and prioritises safety for all. Industry
4 Industry
Government to develop and grow a
Undertake detailed gap analysis studies
supply chain and strong relations as part
in all aspects of the life cycle of offshore
of a global industry
wind farms to optimise opportunities for
Streamlined approval pathways and Commonwealth POLICY NSW and Oceanex and FRAMEWORK
5 and NSW
10
processes that prioritise offshore wind Australian industry, regions and local Industry
projects to ensure they progress Government communities.
expediently in line with being treated as
being of National and State Significance
Executive Summary

24 25
 oceanexenergy.com

Andy Evans
Chief Executive Officer
Oceanex Energy Pty Ltd

Level 3
165 Flinders Lane
Melbourne VIC 3000 Australia

Level 1
80 Elizabeth Street
Sydney NSW 2000 Australia

Newcastle and Wollongong Offices (established March 2022)

E: [email protected]
M: +61 (0)400 018 087
 oceanexenergy.com

Thank you.
Dr Pat O'Meara
CEO, Wind Quarry Zealandia
 CHOICE AND CHANGE

Venture Taranaki – Ara Ake

Offshore Renewable Energy Forum
2023

Clean Energy for a Changing World®

 Wind Quarry Zealandia Principals

Pat O’Meara John O’Meara Dana Zentz

Chief Executive Officer Chief Operating Officer Chief Development Officer
Gore, NZ South Carolina, USA Washington, USA

Ian Frame John Haylock Ryan Shields

Financial Consulting Stakeholder Engagement Project Management
Confidential New Plymouth, NZ New Plymouth, NZ
Clean EnergyNew
forPlymouth, NZ
a Changing World®
 Detroit – The Motor City

1925 Ford Model T 1923 Detroit Electric

CO2 and Climate Change
Sea Ice Loss
Melting Permafrost
Ocean Acidification and Warming
Extreme Weather
6th Mass Extinction Underway

1790 Start of the

Industrial Revolution

Source:
International Union
for Conservation of
Nature (IUCN)
’ N
’ N
 Key Milestones

2019
Wind Quarry Zealandia incorporated
2020
Engagement begins with Taranaki iwi
Consultation with 7 of the 8 Taranaki iwi

Meetings with Government

Taranaki Regional Council (TRC)

South Taranaki District Council

MBIE
Confidential
Clean Energy for a Changing World®
 Key Milestones

2021
Expert team assembled

Engagement begins with Transpower

Net Zero Grid Pathways (NZGP) submission

Beach Energy – Kupe Well Head Platform (KWHP)

Awarded NZTE Strategic Investment Fund (SIF) grant

Hon. Minister Megan Woods Briefed

Confidential
Clean Energy for a Changing World®
 Key Milestones

2022
Minister James Shaw briefing
Climate Change Commission

Response to Energy Authority query

NZ Department of Conservation (DOC)

Environmental Protection Authority (EPA)

Confidential
Clean Energy for a Changing World®
 Aotearoa New Zealand – Leadership

Demand already exists

Power to X

Road transport

Air and marine transport

Industrial thermal processes

Recycling

Healthy Homes Initiative

Confidential
Clean Energy for a Changing World®
 Challenges

Transmission infrastructure

Data on marine life and seabirds

Regulatory uncertainty

New Zealand Coastal Policy Statement – Policy 11

Global inflation

The tyranny of distance

Confidential
Clean Energy for a Changing World®
 Environmental Stewardship
Native Americans Aotearoa New Zealand
Great Law of the Iroquois, 1142 C.E. Kaitiakitanga – Māori Guardianship
Seventh Generation Principle 500 - 900 year planning horizon

Modern Business Model

Next quarter’s earnings
Business sense
Profit driven
Do Something Now
If not you, who?
If not here, where?
If not now, when?
-Theodore Roosevelt
 Ngā mihi nui
Thank you
Clean Energy for a Changing World®
Simon Currie
Co-Founder and CPO, Energy Estate
Offshore wind in Aotearoa New Zealand
 Security – why it matters

• Secure and reliable supply of electricity

• Fuel Security

• Supply Chain Security

• Water Security

• Economic Resiliency

127
Salt – great for security – if you have any
3 proven forms of deep storage for hydrogen and fuels – salt caverns, rock caverns and depleted gas fields.
BNEF levelized costs of storage:
• Salt cavern $0.23/kg
• Depleted gas field $1.90/kg
• Rock cavern $0.71/kg
US-company Green Hydrogen International has secured rights to key salt reserves in Australia including the Adavale Basin in QLD
and the Polda basin. Energy Estate is a shareholder in GHI and will be co-developing the salt caverns in Australia

128
We develop clean industrial ecosystems

• Hunter Valley facing rapid

transition – world’s largest
coal export port

• Options for port repurposing

- Container
- Defence
- Clean industrial – GH2

• Closest viable onshore

resources 150km+ from port

• Major coastal transmission

nodes and accelerated
retirement of coal-fired power

• Large regional population -

1.5m

• Skilled workforce and leading

training institutions

• Large manufacturing base

and history – aluminium
smelter, legacy of steel
production

129
Aotearoa needs an ecosystem approach

• Efficient utilisation of the existing

grid and corridors

• Ecosystems don’t happen by

themselves – and expecting the
first mover to carry all the costs
stifles innovation

• Renewable Energy Zones need to

drive investment and
promote/force collaboration

• Infrastructure to support
accelerated build-out of
renewables is limiting factor

• Energy only market has not

encouraged investment in
storage let alone LDES options

• Load focussed strategy which

integrates offshore wind with
onshore wind, solar, hydro,
geothermal and storage to supply
existing and future loads

130
Waikato – the goldilocks REZ

1.4GW offshore wind project

• 250MW – 300 MW fixed bottom

• 800MW – 1.1GW floating

Connection to Glenbrook –
supporting transition of the
steelworks and new clean industrial
precinct and Auckland Unlimited
vision

Connection to Huntly – utilizing the

existing infrastructure and
potentially unlocking new Upper NI
onshore wind corridor

Offshore wind complements run of

the river hydro, geothermal and
potential pumped hydro in Waikato
region

131
Waikato Offshore Energy – visual simulations

132
 Offshore wind project pipeline
Energy Estate is developing a portfolio of offshore wind in Australia and New Zealand as part of our platform of clean energy ecosystems and hubs.
A selection of these offshore wind projects is outlined below. Eaxh of these projects is integrated into regional ecosystems and hubs which we
believe is a competitive advantage.

Offshore wind pipeline

Project

Location Hunter-Central Coast, NSW Illawarra, NSW Spencer Gulf/Eyre Peninsula, SA North west of New Plymouth

Hub Hunter Illawarra Clean Coast Ecosystem Spencer Gulf Taranaki REZ

Equity stake 100% 100% 100% 100%

500MW floating 1GW floating – pared with electrolysers

Gross Capacity 1.6GW floating wind - paired with 500MW electrolyser to be located at Up to 4GW fixed bottom offshore wind located offshore or suitable location
Port Kembla onshore

Role Developer Developer Co-Developer Developer

FID range /
2028/2030 2028 / 2031 2028 / 2031 2030/32
COD range3

Connect to Munmorah or direct to Offshore wind, storage, green Primarily Power-to-X with focus on green
Route to market Illawarra Hydrogen Hub/BlueScope
H2N node hydrogen, H2 storage methanol

Local partners,
where applicable

133
 Energy Estate has offices in Sydney on the traditional lands of the Gadigal people
of the Eora Nation, in Brisbane on the traditional land of the Jagera and the Turrbal people, and in Adelaide on the
lands of the Kaurna people.

We recognize their continuing connection to the land and waters and thank them for protecting this land and its
ecosystems since time immemorial. We pay our respects to Elders past, present and emerging.
Armin Howard
Project Operations Manager, Azura Wave Power
Armin Howard
COO Azura Ocean Technology
Offshore Renewable Energy Forum
8th March 2023
 Azura Wave Energy Conversion Technology

Uniquely Azura extracts power

from both the heave (vertical)
and surge (horizontal) motions
of waves to maximise energy
capture.

Mechanical motion converted

into hydraulic power.

Hydraulic powers electrical

generator and / or on board
reverse osmosis system.
Problem • Two billion people live in areas at risk from severe
water scarcity – many in coastal areas.
• Water crises one of the greatest risks to the global
economy.

• Global energy demand expected to increase by

47% from 2021 to 2050.
• Existing renewable energy solutions can no satisfy
this demand.
• European Commission estimates 60GW of ocean
energy needed to reach 2050 net-zero target.
Solution

• Azura provides a solution that is:

• Standalone: no shore connection required.
• Dual outputs: electrical power and
desalinised water.
• Efficient: <50% capacity factor.
• Robust: 98% availability over 24-month grid
connected deployment.
• Constant: predictable 24/7 output.
• Enduring: 25-year lifecycle.
• Environmentally friendly: no observable
impact on marine life.
 Validation

Azura’s Low Environmental Impact - Whale Watching (Click to watch) Azura Azura - Heave and Surge Action (Click to watch)

Azura Deployment in Hawaii (Click to watch)

Oregon

---- ----- ---- ---- ---- ----- ---- ---- ---- ----- ---- ---- Original R&D Units ---- ----- ---- ---- ---- ----- ---- ---- ---- ----- ---- ----

01 Oregon (USA) 02 Hawaii (USA)

Oregon
Azura Under the Waterline (Click to watch)

• Tested efficiency factor 50% •

Significantly higher than
wind (34%) and solar (19%)
•
•
Survived 100y storm with 7.5m waves
Successful Grid Connection: 98% Uptime over 18 months
Validation with WECSim for commercial scale development
03 Hawaii (USA)
• Full Scale Development
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
...Scheduled
Locations Oregon (USA) Hawaii 1. (USA) Hawaii 2. (USA) <--- Design ----> <----- Finite Element Analysis ----> Construction
Units Deployed 1 1 1 1
 Commercial Scale Development

• 2 x 250kW peak output PowerPods

• US Department of Energy funded commercial
scale development:
• Concept design
• Wave tank testing
• Detail design
• FEA
• High manufacturing costs
• High transportation and deployment costs
• Uncompetitive LCOE
• Not aligned with early adopter markets

100kW
 Commercial Scale Development
50kW Electrical 50m3 Desalination 100kW/100m3/50:50 Hybrid
• 50kW electrical and
50m3 desalination
models.
• Expandable to
100kW/100m3
• 50:50 hybrid (power and
water)
• Modular construction:
• Standard tube size
(lower manufacturing
costs)
Ocean Observation Underwater Charging
Underwater Charging Marine Aquaculture
Levelized Cost of Levelized Cost of
Energy – 43 US cents. Energy – 40 US cents.

50kW 100kW
Commercial Scale Development

6 x 40ft containers to transport a

complete 50kW system to site

Underwater Charging
Marine Aquaculture
Levelized Cost of
Energy – 40 US cents.

50kW 100kW
Commercial Scale Development

Designed for ease of final assembly

and deployment

Underwater Charging
Marine Aquaculture
Levelized Cost of
Energy – 40 US cents.

50kW 100kW
 Product: Power

Remotes communities Remotes communities

/ installations / installations

Marine aquaculture Marine aquaculture

Ocean Observation

50kW 100kW
Product: Desalination

Wave Energy Converter with Hybrid Energy /

Desalination capability.
Option of localized storage or direct pumping.

Product Range:

US $3.20 per m3 Management

Marine Aquaculture Nam condimentum magna a

Coastal Resiliency
50,000 litres per day at $0.01 per 100,000 litres per day at $0.006
50m3 litre 100m3
per litre tellus accumsan.
per day
per day
Remote island communities Remote island communities
Coastal resiliency / disaster relief Coastal resiliency / disaster relief
Marine aquaculture Marine aquaculture
Market Territorial Priorities
● Isolated Utilities and Coastal ● Ocean Observation and UAV Charging
Communities USA (Military)
Pacific Communities (Fiji, PNG, Tonga) UK
US (Hawaii and Alaska) European Union (France)
European Union Target market share $20m PA
Target market share $80m PA

● Marine Aquaculture
Australia
UK(Scotland)
USA (Hawaii, California, Gulf of Mexico)
Norway
Target market share $50m PA
 Ocean
Based
Growing

REQUIREMENTS: Power + Water Food

 Obtain &
Maximize
Fresh
Water
Hydroponics use 90% less water Grows Nearly Twice as Fast as Soil
Thank You
[email protected]
+64 27 618 1800
Tim Hawkey
CEO & Co-Founder, EnergyBank
ENERGYBANK
OFFSHORE RENEWABLE ENERGY FORUM
TARANAKI 2023
Today’s Presentation

EnergyBank - Background

Technical Hypothesis - Long on Floating Offshore Wind

Technology Development - Key Risk’s

Market Development - Scale

Path Forward – Optimism & Innovation Please

EnergyBank

MISSION
Founded to radically improve the economics
and scalability of energy storage.

VISION
A rapidly and economically decarbonised
world running off dispatchable floating
offshore wind.
Technical Hypothesis
Floating Offshore Wind Will Scale, Better:
Locations – Wind and Markets
Environmental Impact
Standardisation
Manufacturing And Install
Photo Credit: Aker Solutions

The Homerun Requires:

40 hr storage
½ Installed Wind Power
>80% Roundtrip Efficiency
LCOE <$130

Photo Credit: Equinor

Deep Ocean Gravitational Energy Storage

Bolt on storage for 15MW floating

wind turbines:
8 MW

30x 1000 Tonne Weights

40 Hour / 320 MWh

80% Efficiency @ 0.4m/s Velocity

Typical 90% Availability For Baseload Or Peaking Profiles

Technology Development

Four key technology risks:

Dynamics in the ocean
environment

Deep ocean mooring systems

Regenerative crawler

Weight interface
Dynamics
Mooring System
Regenerative Crawler
Token Handling
 Opportunity

Southern Europe
California
15+ GW Japan & Korea
15+ GW
18+ GW

Taiwan
Hawaii 7+ GW
2+ GW

Australia
10+ GW

New Zealand
2+ GW
DISPATCHABLE WIND FARM

1.5GW Dispatchable
Windfarm - Gulf of Lion
150 x 15MW DOGES Equipped Wind Turbines

1200MW, 48GWh Storage

Capable of 950MW Baseload

or 1.5GW Peaking

~$8.5b CAPEX 1

5yr Payback & 10yr NPV of $3.08b @ 10% WACC

Vs 7yr Payback & 10yr NPV of $1.9b w/o DOGES

REPOWERING AASTA HANSTEEN

Photo Credit: Equinor ASA

7 x 15MW DOGES Equipped Wind Turbines

56MW & 2.24GWh Storage
93% Reduction in Production Emissions
~$234m CAPEX
$89m/yr. Increased Gas Sales*
4yr Payoff & 10yr NPV of $159m @ 10% WACC
Pain Points

Supply Chain
Standardisation
Permitting
Economics
Storage
Risk
Skills/Talent
Jump Aboard!
Component suppliers and
OEMs

EPC, installers and floating

offshore providers

Developers and financiers

We need your input evolving

our path to market.

Tim Hawkey: CEO

[email protected] | +64 27 235 4735
Jonathan Everett
PhD Student, University of Auckland
Designing a Wave
Energy Converter
Jonathan Everett
Co-authors: Dr Vladislav Sorokin, Dr Colin
Whittaker, Assoc. Prof. Kean Aw
UoA Mechanical Engineering Department
 Introduction

Design and testing of Working towards 100W Deploy prototype device

wave energy converter device for aquafarming in the ocean in NZ
(WEC) device
Background
● Aquafarms need electricity
○ Every little bit counts!

● Several interested
aquafarming collaborators

● WEC technology stepping-

stone
WEC Concept
First
Prototype
● Made using 3D
printing and common
materials

● Electric motor used as

generator/dummy
Power Take-off (PTO)

● 𝑃𝑑𝑖𝑠𝑠 = 𝐶𝑙𝑖𝑛 × 𝑉𝑏𝑢𝑜𝑦

Device Mechanism
Testing
• Tested in the UoA wave
flume
• 1.2m wide, 17m long,
1.8m deep
• Tested in 0.8m deep
water
• Adjusted parameters:
• Wave frequency
• Wave amplitude
• PTO damping
coefficient
• Up to 2.8W average
power
Prototype in action
Second
Prototype
● Designed to generate 50 to
100 watts under ideal
conditions

● Designed for waves up to

1.5m in height

● Used dummy PTO as well as

measuring electrical power
 Testing

Adjusted Parameters: Achieved a maximum average dissipated power

• Wave frequency of 12W
• Damping coefficient
• Device mounting angle Generated 6W electrical power
Results

● Higher angle results

in more power

● Peak power occurs

at lower damping

● Increased buoy
travel distance
Discussion
● Elliptical water
motion in shallow
water
● Maximum buoyancy
force is similar
○ Same PTO force
but at greater
velocity
○ “Surfing” effect
● Lower forces acting
on components
● Waves need to be
unidirectional
 Roadmap to 100W
● 6W electrical power with 0.3m wave height
● Modelling suggests:
○ Increasing wave height to 0.5m will almost
triple power
○ Increasing buoy mass to 20kg will
quadruple power
● Increase conversion efficiency to 80%
● Ocean testing at the site of our industrial
collaborator later this year
Te Aorangi Dillon
Tumu Whakarae (CEO), Te Korowai o Ngāruahine Trust
 Ngā Tauāki Pūngao o Ngāruahine
Alternative Energy
Position Statement

Te Aorangi Dillon
Tumu Whakarae – CE
Te Korowai o Ngāruahine Trust
Introduction

• Context

• Position Statement and development

• How Ngāruahine defines issues

• Myths and misinformation

• Challenging the status quo

• Transparency

• Outcomes
Context
Pūngao Whakahou – Collective Ngā Iwi o Taranaki Position Statement on Renewable Energy

• Ngā Tauāki Pūngao o Ngāruahine – Ngāruahine Position Statement on Alternative Energy

• Ngāruahine specific

• Resource management issues, Ngāruahine values and principles – expected outcomes of

development
 “Ka tika ā mua, Ka tika ā muri.”

“If the foundations are properly laid, the relationship will endure.”
Ngāruahine Position Statement on Alternative Energy
What is ‘alternative’ energy?

• Renewable energy includes large scale hydro generation

• New technologies

• Solar, wind, micro hydro, biofuels – non-traditional

Position Statement Development
Frustrated by ‘Iwi participation rhetoric’

• Based on 2022 series of workshops with Ngāruahine uri

• Te Korowai Five Year Strategy, Te Uru Taiao o Ngāruahine, Te Ara Toiora

• Te Korowai and Hapū will review and amend as necessary

Problem Identification
Ngāruahine possess equal explanatory and decision making power to the Crown and Government

• Climate change cause – planned, systematic theft

of indigenous peoples lands and resources

• Expansion of the capitalist ethos

• Patriarchy, ‘modernity’ and democratic logic

• Solutions repeat and reinforce the same poor

behaviour
Myths and Misinformation
Ngāruahinetanga – Ngāruahine Tikanga

• Reducing emissions impacts is an integral part of kaitiakitanga

• We are not opposed to the development of alternative energy

• We are opposed to development which is adhoc, poorly planned and unconstrained

• We want to know who you are and what type of people you are
Challenging the Paradigm
Abundant, low cost energy is a basic need, not a commodity

• Environment is not an endless supply of natural

resources

• Communities are not a supply of ever increasing

revenue

• What will change?

Transparency
We acknowledge that international investment and expertise is necessary

• Taiao and social outcomes addressed – central and local government regulators

• What is good for Ngā Iwi o Taranak is good for the Taranaki region

• We want to be active participants – not passive observers

What will you do with the energy?
What is in it for you?

• Will you support the enhanced wellbeing of our communities?

• Will you continue to exploit our taiao and people?

• Quantitative growth is limited

• There is no limit to qualitative growth

“The great, hidden truth of the world is that it is something we
make, and could just as easily make differently1”

“Ka tika ā mua, Ka tika ā muri”.

Pātai?

1Graeber, David. (2015). The Utopia of Rules: On Technology, Stupidity, and the Secret Joys of Bureaucracy. Melville House Publishing.
His Worship Mayor Neil Holdom
NPDC Mayor and Taranaki Mayoral Forum
 Social licence refers to public acceptance of
commercial activity. It is not a legal permit, but an
indication of community approval and trust. Without
social licence to operate, a business can incur delays
and costs, and find further development blocked.
Panel session: Social Licence
▪ Kelvin Wright – CEO, Te Puna Umanga/Venture Taranaki (Facilitator)
▪ Emily Tuhi-Ao Bailey – Founding Member, Climate Justice Taranaki
▪ Dr Peter Edwards – Senior Researcher, Manaaki Whenua
▪ Mayor Neil Holdom – NPDC Mayor and Taranaki Mayoral Forum
▪ TeUraura Nganeko – Lead, External Relations, Ngāruahine
Who are “the community”? Social licence is therefore conditional
• - Iwi and Hapū are treaty partners not one
subset of the general population that needs to It should be based on meaningful relationships
be consulted along with many others. which are mutually beneficial and long term. Those
• Iwi and Hapū are also part of the communties relationships are not transactional arrangements
they live in with rights guaranteed under article and need to show how they will:
3 of the Treaty.
• not irreversibly damage our environment; and
• Iwi and Hapū are also consumers.
• provide opportunities for our uri.

Our job is to look for opportunties for our people. These two key things need to be clear when
At times that may be through leveraging our status applying for a resource consent as they will be
as a treaty partner at the Central Government level. assessed in our Cultural Impact Assessment. What
It may mean that where our treaty partner is not is good for Ngā Iwi o Taranaki is good for the region.
providing those opportunities we look to companies
operating in our rohe.

TeUraura Nganeko – Te Korowai o Ngāruahine Trust

 Social Licence Social Licence:
• Relationships and ➢ Doing more than just meet minimum legal and regulatory
trust are central to requirements to operate effectively.
SLO; therefore a 3rd ➢ Addressing societal concerns around the social, economic,
party cannot get SLO environmental and cultural impacts of their activities.
for you.
• Trust cannot be Community:
demanded; it must be ➢ Communities of interest
earned in the eyes of ➢ Parties that have overlapping interests in the use of contested public
others. resources.
➢ Going beyond local, geographic communities.
• Communities grant
SLO.
• SLO is a long game.

Dr Peter Edwards – Manaaki Whenua

Emily Bailey – Climate Justice Taranaki
Stuart Smith
Spokesperson for Energy and Resources, NZ National party
2023 Offshore Renewable Energy Forum

Enabling a World-Class
Energy System
Stuart Smith – National Party Spokesperson for Energy and Resources

8 March 2023

Authorised by Stuart Smith, Parliament Buildings, Wellington.

Offshore Renewable
Energy Forum
8-9 March 2023 | Devon Hotel, New Plymouth