Partnership in offshore wind energy is crucial

by: Floris Lyppens

The Netherlands has to meet its environmental responsibilities to the planet. Therefore, it is necessary to invest in renewable energy sources in order to protect the quality of live for future generations as well. This will enable the country to reduce the amount of fossil fuels in the energy mix and to reduce its carbon footprint. This is only possible if the Netherlands make optimal use of all available technologies to produce sustainable energy. Offshore wind plays an important role. During an event organized by ABN AMRO several players in the value chain had discussions about this theme.

In the upcoming years, the Netherlands will take major steps forward with the construction of wind parks at sea. This will make ‘offshore wind’ an important part of the energy mix. The government will put out to tender 3,500 megawatt of wind farms. The first tender of Borssele I and II is a major important milestone.

What opportunities and risks offers wind energy: for builders, energy suppliers and financers? The construction of offshore wind farms is more complex than onshore wind farms, due to the distance and specific conditions. Substantial investments are crucial, by institutional investors as well as banks. Financial institutions do not only consider profitability, but also if their investment meets the sustainability ambitions of their company. Forming consortia in the whole value chain are essential. From development to operation, from production to installation and from financing to consulting. Partners will have to trust their mutual expertise in order to standardise the construction of farms and to mitigate risks. This will contribute to the necessary reduction of the costs of wind energy and enable major progress in the realization of the Dutch renewable energy goals.