Stockholm & Cape Town 15th July 2020
Swedish floating windfarm developer Hexicon AB announced it has agreed to join forces with the leading South African wind developer Genesis Eco-Energy Developments in order to explore the development of offshore wind. The development programme will be driven via a joint venture company in South Africa that will be named GenesisHexicon (Pty) Ltd.
The purpose is to jointly develop large scale floating wind projects, contribute to the Oceans Economy and clean energy targets for South Africa, and transfer the Hexicon IP for deep water deployment to the South African market.
Once considered a costly alternative to onshore wind power, and largely limited to Europe and China, offshore wind is starting to show promise as a clean, cost-competitive choice for electricity generation in developing countries, thanks to rapid improvements in technology and a steady reduction in costs.
The report quotes technical potential for offshore wind in Brazil, India, Morocco, the Philippines, South Africa, Sri Lanka, Turkey and Vietnam at roughly 3.1 terawatts – well above the current installed power generation capacity and about three times the installed electricity generation capacity of all 28 EU countries – according to a new World Bank Group report, “Going Global: Expanding Offshore Wind in Emerging Markets.”
The World Bank report looks at offshore areas within 200 km (124 mi) of each country’s coast, taking advantage of the data available from the latest version of the Global Wind Atlas. While some countries, such as India, Sri Lanka and Turkey, have significant fixed offshore wind potential in shallower waters, others such as the Philippines and South Africa require floating foundations to account for higher depths – up to 1,000 meters.