Floating Offshore Wind - Project Finance (Lot 1) and Insurance (Lot 2)

This project investigates two separate but connected themes that affect the levelised cost of energy (LCOE) of FOW projects: bankability and insurability. Both are impacted by perceived risk, but impact project costs in different ways. The first large scale (>500MW) UK FOW projects are expected to use long-term debt to finance a substantial proportion of the project. This is one of the drivers of the anticipated rapid cost reduction in FOW LCOE at the end of the 2020s and early 2030s. However, to enable this low co...