Ten major energy, engineering and construction companies have formed Friends of the “Supergrid” to promote a multibillion-dollar grid linking offshore European wind farms. Unlike conventional transmission lies, Supergrid would have nodes collecting, integrating and routing energy to the best available markets. Energy ministers of France, Germany, the U.K. and six other European nations this December signed a plan for coordinating offshore infrastructure development.
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.