Industry experts speakers
Jonny Atkins Underwriter Travelers
G.T. Hollett Director - Offshore Wind Dominion Energy
Oliver Badenhorst Commercial Leader GE Offshore Wind
Matthew Yau Director Lloyd Warwick International
The US Offshore Wind market has never looked more promising. However, amid the excitement, the roadmap to achieving the Biden administration’s 30 GW by 2030 target remains unclear. So which risks need to be addressed? And which loss trends in Europe can be avoided?
Reuters Events and our partners Travelers are hosted Five Risks to the US Offshore Wind Market to keep the industry ahead of challenges.
Key risks that were discussed:
- The Jones Act - this presents unique challenges to the market, making it difficult to install turbines. So how can the act be navigated to achieve the Biden administration’s 30 GW by 2030 target?
- Supply chain - with most the supply chain for the two existing wind farms in the US coming from Europe, how can the supply chain in the US be built out to avoid lengthy transits and to cut costs?
- Interstate dynamics - developing collaboration between states with differing policy goals, climate targets, budgets, and workforces to drive efficiencies
- Grid transmission and distribution - to meet the ambitious offshore wind targets, a significant level of investment will be required in the onshore transmission network. Could this halt the US’ potential in developing offshore wind projects?
- Natural Catastrophe - while offshore wind globally has not had much exposure to natural catastrophe, there is limited operational experience to gauge how offshore turbines fare against wind storm (and EQ) risk
- Jonny Atkins, Underwriter, Travelers
- G.T. Hollett, Director - Offshore Wind, Dominion Energy
- Oliver Badenhorst, Commercial Leader, GE Offshore Wind
- Matthew Yau, Director, Lloyd Warwick International