We talk to Steve Lockard from TPI Composites and AWEA ahead of AWEA Windpower

A Word About Wind spoke to Steve Lockard, CEO of TPI Composites and incoming chair of the American Wind Energy Association, in our Finance Quarterly report that came out earlier this month. Here are three of the key points.

Topics
No items found.
A Word About Wind
April 24, 2018
This content is from our archive. Some formatting or links may be broken.
This content is from our archive. Some formatting or links may be broken.
We talk to Steve Lockard from TPI Composites and AWEA ahead of AWEA Windpower

A Word About Wind spoke to Steve Lockard, CEO of TPI Composites and incoming chair of the American Wind Energy Association, in our Finance Quarterly report that came out earlier this month. Here are three of the key points.

Steve Lockard (1)

In our most recent Finance Quarterly report, we’ve taken an in-depth look at one of the world’s fastest-growing and most dynamic wind markets: North America.

In this report, we also spoke to some of the industry’s top figures – including Steve Lockard, CEO at TPI Composites and incoming chair of the American Wind Energy Association. If you’ve not yet had a chance to read the report, you can do so here. In the meantime, here are three take-home points from our conversation with Steve:

  1. 1. It’s economics, rather than policy, that will drive forward expansion in the wind market in North America and overseas.

“The one thing we are learning is that low cost wins,” Steve said. “When the economics are good, the policy stuff is easier. When we’re too expensive and reliant on policy, then we end up with boom and bust cycles.”

The key factor in driving down costs is the development of new technologies: “Towers are getting taller, rotors are getting larger … Every time we invest in bigger blades, the cost of energy comes down and the business gets better, fundamentally. The economics of wind get better.”

As a result, the wind sector can become less reliant on government policy, as more major coal players cashing see the appeal of wind farms: “Even if our president withdraws from the Paris agreement, the utilities are embracing de-carbonising,” he said.

2. Transmission is the next big challenge – but there’s no shortage of investors.

Wind developers in the US are currently facing the challenge of how to transmit electricity from the areas with the most wind farms to the cities with the most electricity. But happily, investors are very interested in electricity lines.

While Steve professed not to be an expert in transmission, he said: “There are plenty of investment dollars for conservative physical assets with long- term contracts, but that’s not the risky or hard part... It’s more about where is it windy, where is the load needed, and how many jurisdictions do you go through to get from here to there.”

It’s too early to tell whether Trump’s infrastructure plan will help the problem of transmission, but there are reasons to be optimistic.

3. TPI has ambitious overseas growth plans too.

Steve explained that the growth rate in emerging markets such as Mexico, Turkey and India would make them a significant driver of TPI’s growth over the next five years: growth rates in these countries are predicted to be around 9% annually, compared to 0.8% annual growth in the more mature markets.

“You can imagine we’d be building plants where the growth rates are higher,” he added. The company has plans to expand outside of the wind business too: they are currently diversifying into the development of electric vehicles.

You can hear more from Steve Lockard and a host of other North American wind industry experts at our Financing Wind New York conference on 30th May.

A Word About Wind spoke to Steve Lockard, CEO of TPI Composites and incoming chair of the American Wind Energy Association, in our Finance Quarterly report that came out earlier this month. Here are three of the key points.

Steve Lockard (1)

In our most recent Finance Quarterly report, we’ve taken an in-depth look at one of the world’s fastest-growing and most dynamic wind markets: North America.

In this report, we also spoke to some of the industry’s top figures – including Steve Lockard, CEO at TPI Composites and incoming chair of the American Wind Energy Association. If you’ve not yet had a chance to read the report, you can do so here. In the meantime, here are three take-home points from our conversation with Steve:

  1. 1. It’s economics, rather than policy, that will drive forward expansion in the wind market in North America and overseas.

“The one thing we are learning is that low cost wins,” Steve said. “When the economics are good, the policy stuff is easier. When we’re too expensive and reliant on policy, then we end up with boom and bust cycles.”

The key factor in driving down costs is the development of new technologies: “Towers are getting taller, rotors are getting larger … Every time we invest in bigger blades, the cost of energy comes down and the business gets better, fundamentally. The economics of wind get better.”

As a result, the wind sector can become less reliant on government policy, as more major coal players cashing see the appeal of wind farms: “Even if our president withdraws from the Paris agreement, the utilities are embracing de-carbonising,” he said.

2. Transmission is the next big challenge – but there’s no shortage of investors.

Wind developers in the US are currently facing the challenge of how to transmit electricity from the areas with the most wind farms to the cities with the most electricity. But happily, investors are very interested in electricity lines.

While Steve professed not to be an expert in transmission, he said: “There are plenty of investment dollars for conservative physical assets with long- term contracts, but that’s not the risky or hard part... It’s more about where is it windy, where is the load needed, and how many jurisdictions do you go through to get from here to there.”

It’s too early to tell whether Trump’s infrastructure plan will help the problem of transmission, but there are reasons to be optimistic.

3. TPI has ambitious overseas growth plans too.

Steve explained that the growth rate in emerging markets such as Mexico, Turkey and India would make them a significant driver of TPI’s growth over the next five years: growth rates in these countries are predicted to be around 9% annually, compared to 0.8% annual growth in the more mature markets.

“You can imagine we’d be building plants where the growth rates are higher,” he added. The company has plans to expand outside of the wind business too: they are currently diversifying into the development of electric vehicles.

You can hear more from Steve Lockard and a host of other North American wind industry experts at our Financing Wind New York conference on 30th May.

A Word About Wind spoke to Steve Lockard, CEO of TPI Composites and incoming chair of the American Wind Energy Association, in our Finance Quarterly report that came out earlier this month. Here are three of the key points.

Steve Lockard (1)

In our most recent Finance Quarterly report, we’ve taken an in-depth look at one of the world’s fastest-growing and most dynamic wind markets: North America.

In this report, we also spoke to some of the industry’s top figures – including Steve Lockard, CEO at TPI Composites and incoming chair of the American Wind Energy Association. If you’ve not yet had a chance to read the report, you can do so here. In the meantime, here are three take-home points from our conversation with Steve:

  1. 1. It’s economics, rather than policy, that will drive forward expansion in the wind market in North America and overseas.

“The one thing we are learning is that low cost wins,” Steve said. “When the economics are good, the policy stuff is easier. When we’re too expensive and reliant on policy, then we end up with boom and bust cycles.”

The key factor in driving down costs is the development of new technologies: “Towers are getting taller, rotors are getting larger … Every time we invest in bigger blades, the cost of energy comes down and the business gets better, fundamentally. The economics of wind get better.”

As a result, the wind sector can become less reliant on government policy, as more major coal players cashing see the appeal of wind farms: “Even if our president withdraws from the Paris agreement, the utilities are embracing de-carbonising,” he said.

2. Transmission is the next big challenge – but there’s no shortage of investors.

Wind developers in the US are currently facing the challenge of how to transmit electricity from the areas with the most wind farms to the cities with the most electricity. But happily, investors are very interested in electricity lines.

While Steve professed not to be an expert in transmission, he said: “There are plenty of investment dollars for conservative physical assets with long- term contracts, but that’s not the risky or hard part... It’s more about where is it windy, where is the load needed, and how many jurisdictions do you go through to get from here to there.”

It’s too early to tell whether Trump’s infrastructure plan will help the problem of transmission, but there are reasons to be optimistic.

3. TPI has ambitious overseas growth plans too.

Steve explained that the growth rate in emerging markets such as Mexico, Turkey and India would make them a significant driver of TPI’s growth over the next five years: growth rates in these countries are predicted to be around 9% annually, compared to 0.8% annual growth in the more mature markets.

“You can imagine we’d be building plants where the growth rates are higher,” he added. The company has plans to expand outside of the wind business too: they are currently diversifying into the development of electric vehicles.

You can hear more from Steve Lockard and a host of other North American wind industry experts at our Financing Wind New York conference on 30th May.

A Word About Wind spoke to Steve Lockard, CEO of TPI Composites and incoming chair of the American Wind Energy Association, in our Finance Quarterly report that came out earlier this month. Here are three of the key points.

Steve Lockard (1)

In our most recent Finance Quarterly report, we’ve taken an in-depth look at one of the world’s fastest-growing and most dynamic wind markets: North America.

In this report, we also spoke to some of the industry’s top figures – including Steve Lockard, CEO at TPI Composites and incoming chair of the American Wind Energy Association. If you’ve not yet had a chance to read the report, you can do so here. In the meantime, here are three take-home points from our conversation with Steve:

  1. 1. It’s economics, rather than policy, that will drive forward expansion in the wind market in North America and overseas.

“The one thing we are learning is that low cost wins,” Steve said. “When the economics are good, the policy stuff is easier. When we’re too expensive and reliant on policy, then we end up with boom and bust cycles.”

The key factor in driving down costs is the development of new technologies: “Towers are getting taller, rotors are getting larger … Every time we invest in bigger blades, the cost of energy comes down and the business gets better, fundamentally. The economics of wind get better.”

As a result, the wind sector can become less reliant on government policy, as more major coal players cashing see the appeal of wind farms: “Even if our president withdraws from the Paris agreement, the utilities are embracing de-carbonising,” he said.

2. Transmission is the next big challenge – but there’s no shortage of investors.

Wind developers in the US are currently facing the challenge of how to transmit electricity from the areas with the most wind farms to the cities with the most electricity. But happily, investors are very interested in electricity lines.

While Steve professed not to be an expert in transmission, he said: “There are plenty of investment dollars for conservative physical assets with long- term contracts, but that’s not the risky or hard part... It’s more about where is it windy, where is the load needed, and how many jurisdictions do you go through to get from here to there.”

It’s too early to tell whether Trump’s infrastructure plan will help the problem of transmission, but there are reasons to be optimistic.

3. TPI has ambitious overseas growth plans too.

Steve explained that the growth rate in emerging markets such as Mexico, Turkey and India would make them a significant driver of TPI’s growth over the next five years: growth rates in these countries are predicted to be around 9% annually, compared to 0.8% annual growth in the more mature markets.

“You can imagine we’d be building plants where the growth rates are higher,” he added. The company has plans to expand outside of the wind business too: they are currently diversifying into the development of electric vehicles.

You can hear more from Steve Lockard and a host of other North American wind industry experts at our Financing Wind New York conference on 30th May.

A Word About Wind spoke to Steve Lockard, CEO of TPI Composites and incoming chair of the American Wind Energy Association, in our Finance Quarterly report that came out earlier this month. Here are three of the key points.

Steve Lockard (1)

In our most recent Finance Quarterly report, we’ve taken an in-depth look at one of the world’s fastest-growing and most dynamic wind markets: North America.

In this report, we also spoke to some of the industry’s top figures – including Steve Lockard, CEO at TPI Composites and incoming chair of the American Wind Energy Association. If you’ve not yet had a chance to read the report, you can do so here. In the meantime, here are three take-home points from our conversation with Steve:

  1. 1. It’s economics, rather than policy, that will drive forward expansion in the wind market in North America and overseas.

“The one thing we are learning is that low cost wins,” Steve said. “When the economics are good, the policy stuff is easier. When we’re too expensive and reliant on policy, then we end up with boom and bust cycles.”

The key factor in driving down costs is the development of new technologies: “Towers are getting taller, rotors are getting larger … Every time we invest in bigger blades, the cost of energy comes down and the business gets better, fundamentally. The economics of wind get better.”

As a result, the wind sector can become less reliant on government policy, as more major coal players cashing see the appeal of wind farms: “Even if our president withdraws from the Paris agreement, the utilities are embracing de-carbonising,” he said.

2. Transmission is the next big challenge – but there’s no shortage of investors.

Wind developers in the US are currently facing the challenge of how to transmit electricity from the areas with the most wind farms to the cities with the most electricity. But happily, investors are very interested in electricity lines.

While Steve professed not to be an expert in transmission, he said: “There are plenty of investment dollars for conservative physical assets with long- term contracts, but that’s not the risky or hard part... It’s more about where is it windy, where is the load needed, and how many jurisdictions do you go through to get from here to there.”

It’s too early to tell whether Trump’s infrastructure plan will help the problem of transmission, but there are reasons to be optimistic.

3. TPI has ambitious overseas growth plans too.

Steve explained that the growth rate in emerging markets such as Mexico, Turkey and India would make them a significant driver of TPI’s growth over the next five years: growth rates in these countries are predicted to be around 9% annually, compared to 0.8% annual growth in the more mature markets.

“You can imagine we’d be building plants where the growth rates are higher,” he added. The company has plans to expand outside of the wind business too: they are currently diversifying into the development of electric vehicles.

You can hear more from Steve Lockard and a host of other North American wind industry experts at our Financing Wind New York conference on 30th May.

Full archive access is available to members only

Not a member yet?

Become a member of the 6,500-strong A Word About Wind community today, and gain access to our premium content, exclusive lead generation and investment opportunities.

Full archive access is available to members only

Not a member yet?

Become a member of the 6,500-strong A Word About Wind community today, and gain access to our premium content, exclusive lead generation and investment opportunities.