The de-projectification of the green transition: A case of the offshore wind parks

This paper explores the phenomenon of de-projectification in the offshore wind industry. The green transition relies on successful major capital investment projects, but the track record of such projects has been poor. In contrast, offshore wind parks have been remarkably successful, delivering intended benefits on time and on budget. The paper examines why and how the offshore wind industry has achieved such high performance and explores the dynamics of a de-projectification process. The study utilizes the theoretical perspectives of projectification and the Multi-Level Perspective to analyze the industry's developments. Through a historical analysis of the offshore wind industry, including a case study of Ørsted, the largest owner and operator of offshore wind parks, the research uncovers self-reinforcing inside-out and outside-in developments driving the de-projectification process. In particular, the paper focuses on the inside-out perspective through an analysis of five exemplary projects and identifies three core aspects of de-projectification 1) a product de-projectification moving from small bespoke to large-scale solutions, 2) a processual de-projectification moving from experimentation to production and 3) a commercial de-projectification moving from fragmented projects to strategic production. The outcomes of this process are scaling size, speeding production, and shrinking costs. The findings suggest that de-projectification is crucial for de-risking capital investments and enabling the green transition. The study concludes by highlighting the potential applicability of de-projectification in other sectors and its contribution to achieving net-zero targets.