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Michael Hoj Olsen
CEO
Global Wind Service

11 November 2022

What is Global Wind Service’s core vision for the next few years, given the growing demand for renewable energy?

We are working towards a strategy about what kind of company we would like to be. This includes our revenue expectations, our position within different markets both from a geographical and an offering point of view, and the key things we need to get in place to achieve our goals. We have the aspiration to ensure that sustainable energy is also a sustainable industry - that it is worthwhile investing in the industry in the long run.  Global Wind Service plays in four different spaces – onshore, offshore, service, and blades. We work on a global scale, with specific focus on Europe, Asia Pacific, and the US. The company has a long track record in offshore wind – we installed all seven offshore turbines in the US, were involved in offshore projects in Taiwan, and in one way or another in almost all offshore projects in Europe - and we aim to maintain our position as the number one supplier in this segment. 

What is your strategy to really solidify this positioning in the markets you operate in? 

Our aspiration is to be the preferred project partner globally for complete wind turbine services.  To achieve this, we are focused on Health, Safety, Environment and Quality (HSEQ) management to ensure that we have no incidents on our projects. Secondly, we strive to be a great place to work and to create an environment where we can attract and retain talent in a market where skilled human resources are scarce. We also strive for operational excellence and have a constant focus on improving our ability and efficiency to execute projects through implementing digital tools, creating factual transparency on our performance so we can make the right decisions, and organizing ourselves in a way that we are scalable. We want to continue seeing profitable growth, making it possible to invest in new initiatives such our training academy and open offices in Taiwan, France, Spain, and the US when we need to follow the market. 

Have you been impacted by OEMs’ technological race when bidding for new projects?

 

Energy demand is starting to overtake supply capacity and we need to accelerate the development of renewable energy generation.

 

In a perfect world, you would create a distribution model of the earnings down the value chain - from the consumer buying electricity, to the utility building the wind farms and generating the electricity. This is, however, difficult and support regimes are required for creating a renewable energy value chain. At some time, the cost of energy will be so low that it will be difficult to make margins on it. This puts pressure on the OEMs who must constantly deliver new technologies and solutions instead of having a higher standardization - making sure that they industrialize and harvest from the investment made in a technology. 

We are trying to navigate this by focusing on being very lean in our operations, retaining people that we have invested in educating, and creating a training academy to get new people into the industry at a lower cost base that we can then build up.  We also need to choose the right projects to ensure a healthy business.

What role do you see wind energy playing in the energy mix moving forward?

Wind energy is a mature renewable sector, and we already know what it takes to develop these projects. The role it is playing is already immense and bound to accelerate – we need all sources to rise to the challenge to meet demand. The industry is global, with each region growing its local experts. Different parts of the world tend to do things their own way, but there is the understanding that they need to look towards experience. This is especially the case with offshore wind which has really matured in Europe, and from whom the rest of the industry can learn to overcome hurdles and work more efficiently. 

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