Wind turbines are constantly scaling up in terms of electricity yield and this means that the turbines are continuously getting bigger, heavier, taller, and more voluminous. Wind farms are furthermore erected in more parts of the world and often in areas that are hard to get to onshore as well as offshore. To stay competitive as an industry and for different companies within the wind industry to continue to be relevant, innovation is key as is the ability to adapt to new technology. At Panticon, we actively work with companies when it comes to research and development.
The wind turbine is at center stage from a technology perspective within the wind industry. And the wind turbine is always undergoing significant change to be able to make use of the wind in the best possible manner to generate the most electricity per hour the wind is blowing. As a result of the wind turbine continuously undergoing dramatic development, the entire wind industry is constantly changing along with the wind turbine. The other parts of a wind farm constructed onshore or offshore are subjected to constant change. As are the related products and services forming part of the capital expenditure and operating expenditure cost groupings.
The way the wind industry undergoes change is different across different geographies globally. Some of the variances between different locations derive from the construct of the wind energy supply chain. In some geographies, the market is significant enough for a local supply chain to emerge whereas in other markets, legislative or political motives prerequisites may bring forward a certain direction in terms of factory foot-print, infrastructure, and training of the different types of personnel needed. Being at the forefront of research and development efforts in the local markets is a critical business requirement and nowhere is this more apparent than in the wind industry. Panticon was one of the Summit Partners of the recently conducted Energy & Transport Summit IV digital where a number of innovative projects, new technologies, and ways of working were presented. The industry in question was the highly competitive and rapidly transforming wind industry, however, research and development efforts are critical to the success of any company in any industry. And there are many ways to press forward. You can get inspired in this recording.