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Wind Energy Update

30 Nov 2011 09:11:32

Dexia: attracting investors to the offshore wind industry by a better understanding of the risks

Franco-Belgian bank Dexia made the headlines of numerous publications across Europe over the past few weeks in relation to a bailout plan that is currently being put on place. Predictions go as far as to say that France could lose its AAA index if the country has to provide bigger proportion of the bailout than it was originally expected.

Dexia has also been quite active in the offshore wind industry in the past few months, advising both Meerwind and Global Tech 1 German offshore wind deals.

Wind Energy Update is speaking with Clementine Tassin (director, Dexia), responsible for the renewable energy projects with strong focus on offshore wind.
While Mrs Tassin was not willing to comment the current situation of her financial institution, she is looking forward to Wind Energy Update's 2nd annual offshore wind conference in London on the 28 and 29 February 2012 as she sees it as a good opportunity to have different actors of the offshore wind industry share their views on how to develop the industry in the current economical context, banks facing a trust and liquidity crisis.

'The offshore wind industry needs extra cash, which might prove to be difficult due to the euro crisis' Mrs Tassin says and adds: 'The two main conditions to see that happening are: 1. to attract more private investors and hedge funds and 2. to have clear and strong governmental support, including for the connection to the grid. 'The first point has a lot to do with understanding the notion of risk: investors are reluctant to get involved when the levels of risk associated are not clear or too high. The trick is to allocate the risk to the people who are willing to take it, achieving a better balance between risk and remuneration. In addition, government have to provide a clear and attractive regulatory framework; in some European countries, governments have taken action to create several mechanisms (regulatory regime, financing solution, etc) to make sure projects would happen. The industry has also to do its share and make sure that risks inherent to the industry are well understood and properly managed. This will help get fresh money from private investors and hedge funds.'

This is the event to meet procurement managers, project managers and investment and finance officers in 2012; for further information contact the event organizer Teodora Todorova.

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