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In the United States, the bulk of the construction services required for a wind farm are typically provided by an EPC contractor.71 Firms such as Mortenson Construction and Fluor Corporation (table 4.3) have expanded their EPC portfolios to include the wind power industry, and these two firms are now the largest EPC contractors in the United States. However, the wind industry’s significant growth over the past decade has led to rising vertical integration, and firms in other segments of the wind industry, such as OEMs and specialty construction firms, are increasingly offering EPC services.72 Firms have likely been motivated to enter the market by the profitable opportunities—EPC services reportedly account for the largest share of services costs associated with developing and building a wind farm.73 Despite the growing number of entrants, the EPC market remains quite concentrated, with the top five companies accounting for over 75 percent of the market.74 This is reportedly because larger construction firms tend to have an advantage in a number of important market factors such as safety records, reputation and experience, financial strength, and cost competitiveness.75 Smaller developers, particularly those with less experience, often prefer to work with large EPC firms to help reduce the risk associated with a project.76 TABLE 4.3 Top 10 EPC contractors in the U.S. wind power market, 2011 Rank Company 1 Mortenson Construction 2 Fluor Corporation 3 Aristeo Construction Company 4 Michels Corporation 5 Barton Malow Company 6 EMJ Corporation 7 The Boldt Company 8 Gemma Power Systems 9 Fagen Incorporated 10 Gray Construction Source: ENR, ENR Sourcebook, September 17, 2012, 22. O&M Services Revenue (millions USD) 725.8 330.9 66.0 57.6 49.8 46.4 46.4 43.2 38.9 36.2 In the U.S. market, industry representatives report a wide variation in O&M strategies among wind farm operators. The majority of services tend to be provided in-house by asset owners or by OEMs, but there are O&M ISPs operating in the market as well.77 For example, two of the leading U.S. service providers, NextEra Energy Resources and EDF Renewable Services, are wind farm operators; UpWind Solutions is the leading O&M 71 One industry representative estimated that there are roughly 38 firms that provide construction or EPC services for the wind industry, of which 22 are actively competing in the U.S. market. Industry representative, telephone interview by USITC staff, February 8, 2013. 72 One representative noted that seven to eight years ago, there were few firms capable of providing comprehensive EPC services. Industry representative, telephone interview by USITC staff, March 25, 2013. 73 One industry representative estimates that for a $100 million project, turbines and other equipment account for $75 million, while $23 million is EPC services and $2 million is other services. Industry representative, telephone interview by USITC staff, March 25, 2013. 74 Industry representative, telephone interview by USITC staff, February 8, 2012. 75 Industry representative, telephone interview by USITC staff, February 8, 2012; industry representative, telephone interview by USITC staff, March 25, 2013. 76 Industry representative, telephone interview by USITC staff, February 8, 2012. 77 By one estimate, asset owners and OEMs each account for roughly 40 percent of the O&M market, with third-party providers making up the remainder. Industry representative, interview by USITC staff, January 23, 2013; industry representative, telephone interview by USITC staff, January 22, 2013. 4-14PDF Image | Renewable Energy and Related Services: Recent Developments
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