When I visited China Wind Power 2018 a few weeks ago, I was pleased to see how the offshore wind business was taking off. Products are being developed in China for upcoming 8 to 10 MW turbines, and the technology of choice seems to be either direct-drive or medium-speed permanent magnet generators. This confirms the fact that we’ve been on the right track for offshore, as we’ve worked for over a decade to pioneer the way forward for viable offshore wind power.
Offshore wind is also taking off globally – not only in Europe. The latest estimate from the Intergovernmental Panel on Climate Change (IPCC) is urging for more action to be taken to reduce CO2 emissions. This is one of the underlying drivers for the accelerating use of viable large-scale renewables, such as offshore.
Offshore has already been proven in Europe as a valid alternative for a major power source. Firm political decisions in Taiwan now call for 5.5 GW of renewable energy to replace existing nuclear power plants. Korea, too, is gearing up for offshore power, as well as Japan. And even in the US, the first offshore wind turbines are now being deployed. The trend is quite clear.
In marine, the market has reached the bottom and is starting to show signs of recovery. This upswing is again being driven by environmental regulations and also higher oil prices. What is especially interesting for us as a company is the numerous newbuild vessels that will choose permanent magnet shaft generators, hybrid or fully electric solutions to stay ahead of the competition. Additionally, there is a viable retrofit business to turn existing electric propulsion vessels into future-proof hybrid vessels by adding energy storage units.
Turbo, too, is showing many positive signs of growth. New high-speed applications are now being executed, and we’re truly excited to be part of the developments as our customers are introducing state-of-the-art products based on our technology. Finally, it seems that our customers are convinced that high-speed drives are the best way to advance their drive trains.
All combined, these growth opportunities mean that Yaskawa Environmental Energy will see considerable improvement in revenue during this and our next financial year. In all three areas of our focus, there are new movements and opportunities breaking forth. Therefore, I am happy to say that this will give us a solid base for our business and allow us to continue to develop new projects and innovate applications with our customers.
As a forerunner and major player in high-power drive trains, Yaskawa Environmental Energy is in a good position to work together with its customers on next-generation solutions in our selected applications for energy-efficient results.
Looking forward to hearing more about your potential projects where we can add our energy!