Growth Strategy
The offshore wind industry is still in its relative infancy and widely accepted as being at the forefront of the EU’s 2020 renewable energy targets. The installed European offshore wind capacity is forecast to reach 150GW by 2030, compared with 2.9GW currently, a 50 fold increase in 20 years.
The Company’s short term strategy is to consolidate itself as the market leader in the industry - it currently enjoys a 100% record of success having won every contract tendered for - during this Round 2 generation of offshore wind farms. The medium and longer term goals of the Company are to continue to develop its products and support its customers to expand into other emerging offshore wind, non-European markets in the US and Far East and to prepare for the next generation, Round 3 projects in the North Sea, which are likely to be in deeper waters and operate larger wind turbines.
‘Tekmar is currently focused on its core ‘Teklink’ product and supplying its’ customers in and around the North Sea, ‘says Ken Terry. Their product is widely regarded as being the best in the industry and the company has a diverse customer base along the entire supply chain including the installers, cablers and designers’. Their J-tubeless solution for monopile foundations, currently prevalent in this generation of wind turbines, was revolutionary to the industry, reducing both the capital cost and drastically reducing installation costs by enabling pre- sub sea installation and reducing vessel time and the need for divers.
The Company’s engineers and development team are renowned for working with their customers to provide turnkey solutions to their cabling protection issues. Management’s focus is already turning to Round 3 projects and the development of their ‘bell mouth’ solution for cable connection issues on deeper water structures and to J-tubeless structures for Jacket and floating foundations.
