The recent approval by FERC of the Big Atlantic backbone transmission project and the announcement by the DOE in February of $50 million in R&D offshore wind funding has had many speculating about an offshore wind boom. While many are feeling sanguine, the harshness, remoteness and large-scale nature of the offshore wind project environment make it a market that has little room for error. Echoing this duality was The Boston Consulting Group’s report in November 2010 that offshore wind would continue to see primarily subsidy-led growth into the next decade and only in countries with “aggressive alternative energy targets and the capacity to incur large subsidies”.  

In this meeting, we examine the remaining roadblocks to transforming the United States’ status as a rank outsider in the offshore wind race. In particular, our speakers will delve into economic and energy policy moves that will encourage innovative financing for the removal of technological and expertise bottlenecks, smooth over legislative quandaries and increase stakeholder acceptability.

Policy & Markets

• What is the outlook on continuance of federal offshore wind subsidies? Can policy urgency spur offshore wind development?
• What components of the US regulatory framework are encumbering offshore development?
• What policy drivers are in place in Europe that are absent in the US?
• Why is the creation of regional markets important to offshore wind development?
• In Europe, they have a model of joint projects and statistical transfers; is this replicable in the United States?
• How likely is the involvement of export credit agencies in offshore wind financing and of FIT creation?
• What are public attitudes toward renewable offshore sources of energy considering the macroeconomic outlook?
• Comparison of EU and US transmission regulatory framework.

Offshore Wind Project Environment

• How have changing power classes and turbine market maturity affected the offshore wind environment?
• What turbines, generators, and convertors are most suited to the offshore wind environment?
• Is their room for technological competition given the existence of a handful of market giants?
• What does the landscape of technological innovation look like for offshore wind development?
• What are the biggest technological bottlenecks in the supply chain and is federal funding enough to alleviate them during a depressed economy?
• How can base load price and turbine market maturity affect progress toward onshore wind parity?
• How much volume will be necessary in order to see a reduction in costs?
• What is the project timeline and which parties bear what risks: Capital risk, technology risk, principal risk, weather risk, etc.
• How much energy is slated to be produced from offshore wind resources?

Non-governmental Financing

• What aspects of an offshore wind project are most integral to securing institutional funding? (e.g. size, stage)
• What are the biggest factors affecting the cost of capital?
• What financing models exist currently for offshore wind development?

Speakers:

Former Offshore Wind Adviser for the State of Delaware, Stephanie McClellan, Offshore Wind Consultant

Clean Energy Group, Ross Tyler, Executive Director for the UNEP Sustainable Finance Alliance

Department of Energy (DOE), Chris Hart, Manager of Offshore Wind Energy

Apex Wind, Tim Ryan, President of Offshore Wind

Principle Power, Kevin Banister, Vice President of Business and Government Affairs

Vestas, Sunny Gupta, Business Development Manager, North America

BVG Associates, Christopher Willow, Associate

Time Schedule

9:30am:      Networking, Breakfast 

10:00am:    Panel Discussion Begins

11:30am:    Audience Q&A  

12:00am:    Panel Discussion Ends, Networking

Log into www.agrion.org to create a new profile. Online registration is now closed. If you would still like to access remote streaming of the event, please contact andrea.ricaurte@agrion.org.

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