Europe is the centre of the global offshore wind sector, accounting for 80% of the world’s total capacity at the end of 2018. Yet while the region’s offshore growth is accelerating, emerging market trends could reduce returns. In a recent report, S&P Global Ratings’ Pierre Georges and Massimo Schiavo examine what this means for the credit quality of the world’s largest offshore wind participants.
“The past decade saw significant value creation in the offshore wind sector,” commented the analysts, “supported by favourable pricing mechanisms, lower cost of capital, and operators’ excellent execution.” This allowed European offshore developers to achieve markedly lower-than-expected construction and operating costs. However, as technology matures and government attitudes shift, this trend may change.
To read the full report, please follow this link. Following Moorgate’s outreach, the story was featured in TXF, Proximo, Responsible Investor and Renews.biz.