Many investors have major doubts when it comes to providing finance for floating offshore wind projects. Banks and other funders can be nervous when it comes to investing in such innovations because, by definition, there is no precedent.
However, there are ways around this problem. It may involve contractors or technology providers offering substantial warranties, for example. But it will also involve demonstrating to potential investors that the necessary infrastructure and supply chain is in place to support the scaling up of floating offshore wind.
This perhaps represents the biggest challenge, and as a result there is considerable uncertainty about future investment in floating offshore wind.
In this report, in association with UL, we explore what needs to be done to make floating offshore wind a more bankable asset, whether the risks associated with the sector are real or perceived. We also analyze the prospects for projects combining offshore wind and green hydrogen.
With thanks to the panellists for their contribution: