S&P writes for PFI on why the US can learn much from Europe’s experience in offshore wind

Michael FergusonWriting for Project Finance International (PFI), Michael Ferguson, Director and wind power specialist at Standard & Poor’s, argues that although boasting a mature onshore wind industry, the U.S. lags far behind Europe when it comes to generating wind power at sea, only seeing development of its first offshore wind farm in 2015 – around two decades after its peers across the pond.

Ferguson explains that in order to meet electricity demand and achieve federal clean energy targets, the American offshore wind sector should learn from Europe when mitigating project risk – from construction and maintenance, to performance and technology – ultimately resulting in a viable, bankable offshore project. To this end, S&P’s first rated offshore farm, Meerwind, off the coast of Germany, offers crucial insight.

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