APPLICATIONS: TECHNOLOGIES: KEY MARKET FORECASTS: GEOGRAPHIES:

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1 Submarine Electricity Transmission HVDC and HVAC Submarine Power Cables: Supply Constraints, Demand Drivers, Technology Issues, Prominent Projects, Key Industry Players, and Global Market Forecasts The market for high-voltage submarine is a small and highly specialized industry that will experience strong growth over the next several years. Demand for submarine is growing steadily as national governments and regional organizations pledge their efforts to expanding offshore renewable power generation, linking remote land masses, and interconnecting their national grids. These projects often involve subsea connections or power generation that is found in offshore wind farms. As cable technology advances, more projects are proposed that require longer, deeper, and highercapacity. Even the most conservative growth models show that the industry will expand rapidly, but Pike Research s analysis finds that the supply chain will not be capable of meeting the full demand in this growing market. While there are very few companies that are capable of performing each step in the installation process, from surveying to final installation, the tightest bottleneck in this already constrained supply chain is the cable manufacturers. Only a handful of companies are capable of building the complex that are required by this market. In order to meet the demands of proposed projects, cable manufacturers will need to increase their production significantly. While some projects will likely encounter delays due to the limited supply chain, additional market players and increased capacity by existing suppliers will help the industry begin to catch up to this ever-growing demand. This Pike Research report provides a comprehensive analysis of the worldwide market opportunity for submarine HVDC and HVAC power cable projects, including an assessment of demand drivers and supply chain dynamics, both currently and in the years ahead. The study features in-depth profiles of more than 25 key industry players and case studies of more than 30 notable high-voltage submarine cable projects. Market forecasts are provided for submarine cable projects through 2021, segmented by world region and including three different growth scenarios. KEY MARKET FORECASTS: Submarine Cable Deployments by Growth Scenario, World Markets: Deployment of HVDC vs. HVAC Cables, World Markets: High-Voltage Submarine Cables Deployed by Region, World Markets: Construction and Deployment Cost of High-Voltage Submarine Cable: Cable Deployed by Project Type and Technology, World Markets: GEOGRAPHIES: North America Europe Asia Pacific TECHNOLOGIES: High-voltage power High-voltage direct current (HVDC) power High-voltage alternating current (HVAC) power HVDC light HVDC plus Mass-impregnated Mass-impregnated nondraining (MIND) Cross-linked polyethylene (XLPE) Power cable-laying vessels APPLICATIONS: Submarine cable suppliers Suppliers of submarine power cable components Submarine power cable installers Utilities/Transmissi on system operators (TSOs) Wind farms Renewable energy companies Grid developers Supergrid developers Islands

2 TABLE OF CONTENTS: 1. Executive Summary 1.1 High-Voltage Submarine Cable Market 1.2 The Technology of a Submarine Cable 1.3 Summary 2. Market Issues 2.1 Supply Overview Construction and Deployment Supply Chain Survey and Design Cable Manufacture and Supply Raw Materials Cable Manufacturers Submarine Cable-Laying Ships Termination Equipment Regional Supply Overview North America Europe Asia Pacific Rest of World Cost of Building a Cable Cost of Cables for Wind Farms Cost of Cables for Interconnectors 2.2 Global Demand Drivers of High-Voltage Submarine Power Cables Connecting Islands to Nearby National Power Grids Connecting National Grids Geothermal Power Generation in Iceland, the Philippines, and Nevis European Union Supergrid Bi-Directional HVDC Cables Connecting Wind Farms and Offshore Power Generation Other Uses of High-Voltage Submarine Power Cables Power Supply to Offshore Facilities Umbilical Cables Under Lake and In-River Cables Demand Drivers by Specific Markets North America Europe Asia Pacific Rest of World Summary of Demand Drivers and Challenges 2.3 Subsea Power Cable Regulations and Policies High Seas Regulation National and Regional Organizations U.S. Regulations EU Regulations Cable Protection Committees Cable Risk Management The Future of Regulations Regarding Submarine Power Transmission 3. Technology Issues 3.1 High-Voltage Submarine Technology Overview Development of Transmission Technology HVDC Technology and Advantages HVDC Light and Plus Technology and Advantages HVAC Technology and Advantages HVAC Versus HVDC Cables Technology Development and Progress of AC/DC Rectifiers Mercury Arc Valves Thyristor Converters Types of Submarine Cable Used Mass-Impregnated Cables Self-Contained Fluid-Filled Cables Extruded Insulation Cables Installation of Cables and Connection to Main Power Grids Equipment and Technologies Used to Install Cables Cable Landing and Connection to Power Grid 3.2 Challenges and Developments on the Horizon Prevalence of Certain Technologies in Current Projects Future Developments in Submarine Electric Cable Technology 4. Key Industry Players 4.1 Cable and Equipment Manufacturers ABB Borealis J-Power Systems JDR Cables LS Cable & System Nexans nkt Cables NSW Prysmian Siemens Viscas ZTT 4.2 Cable Installation Global Marine Systems Hong Kong Marine Contractors S.B. Submarine Systems Co. Ltd Siem Offshore Contractors 4.3 Power and Utility Companies China Southern Power Grid CLP Group DONG Energy Energinet.dk Korea Electric Power Corporation Red Eléctrica de España RWE Statnett TenneT Terna Vattenfall 4.4 Notable High-Voltage Submarine Cable Projects Anholt Offshore Wind Farm Atlantic Array Atlantic Wind Connection Basslink Interconnector BorWin BritNed Caribbean Interconnect Project Champlain Hudson Power Express COBRAcable Desertec Doha Bay, Qatar Fenno-Skan Fundy Tidal Project Green Pacific Highway Gwynt y Môr Horns Rev Interisland Wind & Cable, Hawaii Kriegers Flak London Array Wind Farm MedGrid NordBalt NorNed Rómulo (Conexion Mediterranea Transporte Alta COMETA) Samsø Offshore Wind Farm (Paludans Flak Offshore Wind Farm) SAPEI Skagerrak Troll A Offshore TuNur U.K.-Iceland

3 Wave Hub Western HVDC Link 5. Market Forecasts 5.1 Supply Market Forecast Summary North American Supply Forecast European Supply Forecast Asia Pacific Supply Forecast Rest of World Supply Forecast 5.2 Demand Market Forecast Summary North American Demand Forecast The Future of the North American Market European Demand Forecast The Future of the European Market Asia Pacific Demand Forecast The Future of the Asia Pacific Market Rest of World Demand Forecast 5.3 Challenges for the Future of High-Voltage Submarine Cables Supply and Demand Market Challenges Technology and Policy Challenges 6. Company Directory 7. Acronym and Abbreviation List 8. Table of Contents 9. Table of Charts and Figures 10. Scope of Study, Sources and Methodology, Notes LIST OF TABLES: High-Voltage Submarine Cables Deployed, North America: High-Voltage Submarine Cables Deployed, Europe: High-Voltage Submarine Cables Deployed, Asia Pacific: Construction and Deployment Cost of High-Voltage Submarine Cable: Deployed and Active High-Voltage Submarine Cables, North America: High-Voltage Submarine Cable Deployments by Project Type, Europe: Deployed and Active High-Voltage Submarine Cables, Europe: Deployed and Active High-Voltage Submarine Cables, Asia Pacific: Submarine Transmission Technology by Project Status and Region: High-Voltage Submarine Cables Deployed Worldwide by 2012 Cables Deployed by Project Type and Technology, World Markets: Percentage of Cables Deployed by Project Status and Technology, World Markets: Cable Deployment CAGR by Growth Scenario and Region: Submarine Cable Deployments by Growth Scenario and Region, World Markets: Proposed High-Voltage Submarine Cables by Project Type, North America: Proposed High-Voltage Submarine Cables by Project Type, Europe: Proposed High-Voltage Submarine Cables by Project Type, Asia Pacific: LIST OF CHARTS & FIGURES: Submarine Cable Deployments by Growth Scenario, World Markets: Deployment of HVDC vs. HVAC Cables, World Markets: High-Voltage Submarine Cables Deployed, North America: High-Voltage Submarine Cables Deployed, Europe: High-Voltage Submarine Cables Deployed, Asia Pacific: Construction and Deployment Cost of High-Voltage Submarine Cable: High-Voltage Submarine Cable Deployments by Project Type, Europe: High-Voltage Submarine Cables Deployed in World Markets by 2012 Deployment of HVDC vs. HVAC Cables, World Markets: Cables Deployed by Project Type and Technology, World Markets: High-Voltage Submarine Cable Deployments, World Markets: High-Voltage Submarine Cable Demand Growth, World Markets: High-Voltage Submarine Cable Deployments, North America: Submarine Cable Deployments by Growth Scenario, North America: High-Voltage Submarine Cable Deployments, Europe: Submarine Cable Deployments by Growth Scenario, Europe: High-Voltage Submarine Cable Deployments, Asia Pacific: Submarine Cable Deployments by Growth Scenario, Asia Pacific: Medium Growth Scenario for Submarine Cable Deployments by Region, World Markets: Diagram of HVDC Cable System Cable-Laying Ship, Nexans Skagerrak Shoreham, New York, HVDC Light Converter Station Nevis Geothermal Power Plant Proposed Submarine Cable Implementation and EU Supergrid Wind Turbine Cable Installation Schematic, Horns Rev 2 Wind Turbines Installed in the North Sea Beatrice Offshore Wind Farm and Oil Platform Umbilical Cables Connecting to Transmission Station, Horns Rev 2 Wind Farm Ocean Jurisdictions by Distance from Shore Diagram of HVDC Light Converter Station Comparison of HVAC and HVDC Cables by Cable Material

4 Mercury Arc Rectifiers Thyristor Rectifiers Cross-Section of XLPE Submarine Power Cable Cable-Laying Barge ATM Discoverer at Rhyl Flats Wind Farm Prysmian s Giulio Verne Cable-Laying Ship Submarine Power Cable Tow-plough Cable Jetting SmartJet Hydraulic Plough ROV Cable Landing and Burial Operations, SAPEI Cable Nexans Skagerrak Transports Cable from the Halden, Norway Plant Picture of Cable-Laying Barge NSW s NOSTAG 10 Picture of Cable-Laying Ship Global Marine Systems C.S. Sovereign SBSS Fu Xing Cable-Laying Barge Map of Anholt Wind Farm Map of Atlantic Array Wind Farm Map of Atlantic Wind Connection Map of Basslink Interconnector Map of BritNed Map of Caribbean Interconnect Map of Champlain Hudson Power Express Map of COBRAcable Map of Desertec Map of Fenno-Skan 2 Map of Fundy Tidal Project Map of Gwynt y Môr Map of Horns Rev 2 Map of Interisland Wind & Cable Map of Kriegers Flak Map of London Array Map of MedGrid Map of NordBalt Picture of Samsø Wind Farm Map of SAPEI Map of Skagerrak 4 Picture of Troll A Offshore Platform Map of TuNur Map of U.K.-Iceland Map of Wave Hub Diagram of Wave Hub Facilities Map of Western HVDC Link Submarine Cable Deployments by Growth Scenario, World Markets: (Number of Cables Deployed) Installed High Growth Medium Growth Low Growth (Source: Pike Research)

5 Deployment of HVDC vs. HVAC Cables, World Markets: 80% 70% HVAC (Percent of Projects) 60% 50% 40% 30% 20% HVDC 10% 0% Operational Proposed Planning (Source: Pike Research) KEY QUESTIONS ADDRESSED: What are the most common uses for high-voltage submarine power? Does the current supply chain for submarine power have the capacity to meet the demand for future projects? Which geographic regions will experience the greatest demand for submarine power and what types of projects will they undertake? Which geographic areas have the highest capability to supply submarine power? What drives the demand for submarine power cable projects? What types of submarine cable technology will be the most prevalent in future projects? At what rate will the submarine power cable industry grow? Who are the key players in the submarine power cable market? What proposed projects will challenge the demand for submarine power? How many high-voltage submarine will be installed between 2012 and 2020? What are the notable upcoming projects in the submarine cable market? WHO NEEDS THIS REPORT? Suppliers of submarine power Suppliers of power cable components Submarine power cable installers Utility companies considering the use of submarine power to expand their existing electrical grids Transmission system operators (TSOs) Wind farm operators Offshore industries interested in linking their operations to the onshore grid Renewable energy operators Energy grid operators Investor community REPORT DETAILS: Price: Pages: Tables, Charts, Figures: Release Date: $ TO ORDER THIS REPORT: Phone: Q 2012