A major source of finance for offshore wind projects may soon open up to the industry’s most important technological frontier: floating turbines. Non-recourse finance, where lenders get repaid from the profits of a project and have no claim over the assets of the borrower, will likely be available to upcoming floating wind projects as the market reaches an initial stage of maturity, experts say. That would help to lower the cost of projects. Non-recourse lending accounts for the majority of funding flowing to conventional European offshore wind projects today. So far, no floating projects have secured pure non-recourse finance, “but the market is becoming ready for it,” said Clément Weber, a floating wind expert at renewable energy financial advisory firm Green Giraffe.
GTM 3rd Aug 2020 read more »