10 May 2012 11:05:10
Experienced teams more likely to bring funds for offshore wind projects
42% of participants in a survey conducted by Wind Energy Update on offshore wind investment and finance named "experience of the team" as the primary feature to raise capital for current offshore wind projects.
"Experience of the team" was recently named as the principal trait to accumulate capital for current offshore wind projects as found in Wind Energy Update's survey on offshore wind investment and finance. Further to this, survey participants also saw that "the use of proven technologies" and the "site characteristics" also played a major role in the acquisition of finance.
As explained by Marios Papalexandrou of Mott MacDonald, who featured in a recent webinar again hosted by Wind Energy Update, 'experienced teams have greater risk awareness which allows them to predict hazards and respond to them in a quick and efficient manner'. The two fellow speakers (Matthew Tilbrook of Mizuho Corporate Bank and James Stewart of SgurrEnergy) agreed with Mr Papalexandrou and added that 'investors are keen to fund projects only if the development team can demonstrate a solid portfolio of previously constructed offshore wind farms'.
To continue the discussions surrounding project delivery, technology risks, supply chain, investment and finance, these three individuals will meet in Hamburg this June alongside key industry companies such as Dong, EnbW, RWE Innogy, Stakraft, Mainstream Power, Acciona, Vattenfall, Siemens, Deutsche Bank and many more.
The first Offshore Wind Risk Summit, designed to identify critical offshore wind risks for timely and cost effective project delivery brings together financial, technical and commercial experts from all sectors of the industry to address the current risk issues related to the offshore wind industry and suggest effective strategies for their control.
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