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Changing Seas Of Risk for Offshore Wind Projects Worldwide – S&P Global Ratings
The costs for offshore wind development are falling, driving greater energy capacity worldwide. However – as project numbers increase, industries grow, and technology improves – understanding the associated credit risks is becoming increasingly important.
And, crucially, while Europe’s maturing industry is encouraging greater transparency and a better understanding of these risks, North America will have to play catch-up if it is to mimic Europe’s successes.
In light of this, S&P Global Ratings has just released the second report in a two-part series, entitled Offshore Wind: A Changing Sea Of Risk. The report (attached, and available online here) explores the key risks – operational, construction, market, and resource – of offshore wind power development.