Offshore wind players are currently navigating inflation, rising interest rates and a bidding war in auctions. These challenges impose a re-think on aspects such as portfolio value proposition, managing of supply chain relations, and talent strategy to ensure execution excellence.
McKinsey Offshore Wind Hub can support you and innovate with you to navigate this era of disruption. Our expertise and proprietary tools span the full value chain to help you win auctions, optimally execute projects, and support profitable growth.
What we do
Offshore wind development
We support clients in new and stablished markets on offshore wind development, including:
- Strategy and market entry
- Scalable operating model and partnering
- Auction strategy and bid writing
- Technological innovations, including floating and hydrogen
- System integration and integrated energy islands
- Sustainability, including ecology and biodiversity, decarbonization and circularity
Asset construction and troubled project support
We help clients in the successful realization of new and ongoing offshore wind projects, including:
- Design and engineering
- Category strategy and procurement
- Supply chain resilience
- Manufacturing footprint optimization
- Construction and claims management
- Grid connection and innovation
O&M strategy and asset productivity
We support clients globally in their operations and have established the industry-leading offshore wind O&M benchmark, including:
- Operations & maintenance strategy
- Asset productivity/yield optimization
Asset offtake and commercial portfolio optimization
We support clients in maximizing value at asset level and portfolio level, including:
- Asset offtake optimization, including PPAs
- Commercial portfolio optimization beyond the individual asset
- Portfolio risk management and tactical support
Enablers to deliver corporate and asset excellence
We support clients realize asset ambitions by ensuring the enabling capabilities are in place, including:
- Talent, capabilities, and culture
- Digital enablement and agile transformation
Learn more about McKinsey’s Offshore Wind Hub
Examples of our work
Strategy and market entry
Developed the offshore wind market entry strategy for an Asian OEM, detailing the best target segments, defining the business model, and delivering the market entry roadmap.
Auction strategy
Supported a European offshore wind developer in sharpening its auction bid, which yielded a 30% downside risk reduction and 20% potential upside.
System integration
Supported a large European port to develop a system integration strategy including storage. We identified an optimal system setup with potential energy savings from $100 million to $250 million a year.
Design and Engineering
Supported a turbine OEM in increasing output by redesigning control systems using deep learning surrogate (DLS) models, resulting in up to 0.5% increase in annual energy production
Grid connection and innovation
Supported a transmission grid operator in Western Europe on permitting support, creating a new interface philosophy with process-leading authorities. We also defined a comprehensive stakeholder management and approach strategy.
Yield optimization and O&M strategy
Developed the value creation roadmap for a European offshore wind operator, driving a 3–4% wind yield increase. We also refined O&M strategy for European OSW operator, reducing mobilization time by 85% and service time by 20%.
Portfolio strategy
Supported a player in the cost modelling and selection of a cost-optimal generation and storage technology mix, which minimizes levelized cost of energy and allows for achieving a 24/7 renewable PPA.
Agile ways of working
Set up an agile lab for an offshore wind farm of a utility company to identify and implement digital use cases. The agile lab realized $500,000 EBITDA upside in first three months of implementation.