Atkins, a member of the SNC-Lavalin Group, and global law firm K&L Gates LLP recently released an updated “Offshore Wind Market Handbook,” which has been designed to help guide investors through technical and regulatory issues in a fast-paced developing U.S. offshore wind market.
The U.S. offshore wind market has quickly evolved over the last year, with extensive updates in policy and regulatory environment, and several states entering or strengthen their commitment to the industry. The handbook also includes updates to reflect global developments including: the award of in-year U.S. lease rounds; the recent Contract for Difference Auctions in the UK where the support of offshore projects is as low as £39.65 per megawatt hour; and technological advancements such as the first 12-MW offshore turbines.
“For large companies and investors in the U.S. offshore wind market, the technical and regulatory issues have been pivotal to opening up the development of offshore wind projects in the U.S.,” said Andy Thompson, director of offshore wind at Atkins. “Since we first launched our handbook last year, there have been significant market developments, and we must make sure we give the most update information to stakeholders and new market entrants.
“The strength in commitment from U.S. states is key so the supply chain has clear visibility of a pipeline of projects, and commitment to the industry’s success,” he continued. “The recent drop in prices in the UK, increased investor confidence, and the world’s largest 12-MW turbine now committed to large scale projects, such as Dogger Bank, sets the industry on an exciting new path of engineering and design.”
Regulatory issues include a discussion of the interplay between U.S. federal jurisdiction and the various coastal states that have enacted laws and regulations encouraging offshore wind projects. Technical issues include turbine and foundation options and solutions, performance assurance strategies and a discussion of innovations in design and equipment that are particularly suited to U.S. coastal waters.
“Together, K&L Gates and Atkins demonstrate a pool of knowledge and a depth of experience to draw on that gives us uniquely valuable insight into the legal and technical challenges facing the US offshore wind industry,” said David Hattery, co-leader of K&L Gates’ power practice.
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