March 2025

EDP Renewables North America, alongside EDP Renewables Canada Ltd. (EDPR Canada) recently partnered with Caldwell First Nation to complete a land purchase agreement on previously unused industrial property for the 75 M/Wac (300 M/Wh) Edgeware Energy Storage Project (Edgeware) from the City of St. Thomas. Edgeware was awarded a 20-year contract with the Ontario Independent Electricity System Operator through the IESO Long-Term I Request for Proposals. This energy storage project will contribute to the reliability of the Ontario transmission grid to support the province’s energy demand and continued growth.

The project is being developed in partnership with Caldwell First Nation and is within their traditional territory. The revenue generated from the project will be directly invested back into the community. The project is targeting commercial operation as early as 2027. EDPR Canada is a subsidiary of EDP Renewables S.A., a leader in renewable energy development globally with a strong footprint in North America.

“EDPR Canada is proud to be partnering with Caldwell First Nation and the City of St. Thomas on the development and success of the Edgeware project,” said Thomas LoTurco, executive vice president, Eastern U.S, Canada & Government Affairs at EDP Renewables North America. “The project will provide economic benefits locally while also supporting the reliability needs of the province of Ontario.”

“We are excited to partner with EDPR Canada on the Edgeware Energy Storage Project,” said Nikki van Oirschot, Chief of Caldwell First Nation. “This initiative will directly benefit our community while honoring our traditional lands, environmental values, and sovereignty. It’s vital for Caldwell to be genuine partners in projects, ensuring our perspectives are recognized and reflected in them.”

The City of St. Thomas is undergoing an era of manufacturing growth tied to the automotive industry. Edgeware’s development will contribute to revitalizing the local economy and facilitate workforce development and job opportunities, all while providing tax payments that directly contribute to city services.

“With the Edgeware project, St. Thomas is reiterating its commitment to this collaboration, focused on attracting manufacturing facilities, job creation, and support of local businesses within the city,” said Joe Preston, the mayor of City of St. Thomas. “We are proud to work with Caldwell First Nation and EDPR Canada to help make this project a reality.”

Edgeware proceeds forward in its development phase with permitting efforts expected to be completed in 2025.

More info www.edpr.com/north-america

Shoreline Wind, a full lifecycle SaaS solution built for wind farm O&M, construction, and design, recently published its latest white paper, “Headwinds: Offshore supply chain can boost profits despite challenging times ahead.”  The paper offers an optimistic yet clear-eyed analysis of the opportunities and challenges facing the sector’s supply chain as the industry gears up to meet ambitious 2030 global renewables targets. 

The global offshore wind sector is on the brink of unprecedented growth. In 2023, a record 10.8 GW of new capacity was installed, bringing the total to 75.2 GW worldwide. The Global Wind Energy Council (GWEC) forecasts that 140 GW of new installations will be needed between 2024 and 2028, requiring annual growth rates nearly triple the current pace. With demand surging, driven by ambitious 2030 targets, offshore wind is uniquely positioned to drive a significant portion of the energy transition.

Despite the immense opportunities, the white paper details the supply chain must address several systemic challenges. Competitive tenders have historically led to a “race to the bottom,” forcing developers to accept lower strike prices and pay higher costs for development rights. 

For example, U.K. strike prices plunged from 150 pounds/MWh in 2014 to under 40 pounds/MWh by 2020, while in Germany, developers recently paid 12.6 billion euros for 7 GW of development rights. This hyper-competitive environment has contributed to project delays and, in some cases, failed tenders, including the recent auction in Denmark.

The ripple effects of these dynamics have tightened profit margins across the supply chain, curtailing investment in innovation and scaling capacity. Smaller supply chain companies are particularly vulnerable, with many unable to compete against lower-cost rivals. Additional hurdles such as staffing shortages, port capacity constraints, and a slowdown in capital investment — particularly from U.S. markets into Europe — are further compounding the challenges.

“Offshore wind’s global supply chain is facing critical systemic challenges,” said Ole-Erik Endrerud, founder and chief product officer at Shoreline Wind. “To achieve the 2030 targets, the industry needs to move beyond short-term cost cutting and focus on building a resilient, innovative supply chain that can deliver consistently, and at scale.”

The white paper puts forward key recommendations to address these systemic issues. Governments, for instance, can play a crucial role by providing clearer policy direction, driving long-term investment security. Countries such as France, Germany, and The Netherlands have successfully demonstrated how integrating non-price criteria in tender processes can create more sustainable and viable projects.

Developers also can drive change by removing barriers for supply chain companies. Standardized contracts, improved payment terms, and greater predictability can empower smaller firms to invest in innovation and efficiency.

Moreover, leveraging specialist service providers to optimize operations and margins can enable companies to focus on their core strengths while enhancing project delivery.

“Specialization drives supply chain resilience, profitability, and sustainability,” Endrerud said. “By leveraging expert providers and specialists, we create a model that boosts margins, fosters innovation, and accelerates industry growth.

Additionally, adopting digital platforms that facilitate more fluid and tighter collaboration across the supply chain can streamline operations, align construction timelines, optimize port usage, and better manage project risks — key steps toward a more efficient and sustainable supply chain.

Our latest white paper provides a clear path forward. The offshore wind sector has a unique opportunity to transform its supply chain into a robust, innovative, and collaborative ecosystem. With the right strategies in place, the industry can meet its ambitious targets and continue driving the global energy transition.”

More info shoreline.no

K2 Management (K2M), part of wind engineering and advisory consultancy Ramboll, recently provided Lender’s Technical Adviser (LTA) due diligence services to the lending consortium financing the flagship 1.1GW Inch Cape Offshore Wind Farm.

The wind farm has successfully reached financial close, securing a 3.5 billion pound financing package from lenders comprising 22 banks. This will enable Inch Cape Offshore Limited, a 50:50 joint venture between Red Rock Renewables and ESB, to progress with offshore construction of the project.   

Inch Cape Offshore Wind Farm is 15 kilometers off the Angus Coast in the North Sea and consists of 72 turbines. The wind farm is under construction and is set to enter operation in 2027. The power generated will be transported 85 kilometers to a new substation at Cockenzie in East Lothian and provide enough clean energy to power almost half the homes in Scotland.

When financing any major offshore wind farm, lenders require a robust, independent assessment of all the key risk factors influencing the expected financial and technical performance of the project. K2M supported the lending consortium from the early stages of development until financial close, conducting a comprehensive bankability assessment and detailed technical due diligence to de-risk their financing decision.

“Inch Cape Offshore Wind Farm is a strategically important project that will boost the U.K.’s wind capacity and supply millions of households with clean, sustainable electricity,” said Bethany Rowson, principal due diligence consultant at K2M. “We’re thrilled to have supported the project in reaching financial close, and we look forward to working with Inch Cape Offshore Limited on the ongoing construction of the wind farm.”

“Reaching financial close is an important milestone for the project and a culmination of much hard work and collaboration between all of the parties involved,” said John Hill, Inch Cape project director. “K2M is known for its technical due diligence knowledge and expertise and has played an important role in enabling the project to reach financial close and secure its long-term future.”

K2M was originally appointed by Inch Cape Offshore Limited as LTA in 2021 and has provided technical due diligence on the project design, delivery, operations, and lender engagement. K2M will continue to provide support throughout the final construction and operational phases of the wind farm.

More info www.k2management.com | www.inchcapewind.com