First Read European Utilities Global Offshore Wind conference feedback

研报英文原文证据摘录

First Read European Utilities Global Offshore Wind conference feedback

Global Research

19 June 2026ab

First Read

EquitiesEuropean Utilities

Global Offshore Wind conference feedback Europe including UK

Utilities

Mark Freshney

Bottom line: Positive Analyst

We attended the Global Offshore Wind trade fair in Manchester this week. We spoke in- mark.freshney@ubs.com

depth to 11 vessel owners, equipment manufacturers, consultants and developers. The +44-20-7568 3989

overall tone was that wind is building back from a low ebb following cancellations in the Christopher Leonard

past four years. The North Sea summit pledge of 15GW p.a. through 2030-40 was only Analyst

mentioned once in our meetings which gives confidence on discipline. One consultant chris.leonard@ubs.com

indicated activity has bounced off the bottom. We are positive on the renewables utility +44-20-7568 3958

subsector, as well as Nexans, Prysmian and Siemens Energy. Christabel Kelly

Analyst

Standardisation of turbine sizes observed christabel.kelly@ubs.com

+44-20-7568 2358

There has been a shift away from 'bigger is better' as turbines standardised in the 14-

16MW range is now the sweet spot. The view from several meetings was that this can Gonzalo Sanchez-Bordona

drive down the LCOE (levelised cost of energy) over time, and the supply chain benefits Analyst

gonzalo.sanchez-bordona@ubs.com

via: 1) Improved manufacturing efficiency, 2) Certainty for vessels and installation

+34-91-745 4147

planning on turbine sizes, 3) Reduced complexity across foundations, inter-array cables,

and logistics. There is also potential for Chinese supply to enter the market which could Wanda Serwinowska, CFA

drop LCOEs by ~15%, but political resistance remains (see next point). Analyst

wanda.serwinowska@ubs.com

+44-20-7568 3980