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State of the Industry Webinar: Financing America's Offshore Wind Buildout

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State of the Industry Webinar: Financing America's Offshore Wind Buildout

Wednesday, February 6, 2019 | 12:00-1:30 p.m. EST

The State of the Industry Webinar, a quarterly series produced in partnership between ACORE and Bloomberg New Energy Finance (BNEF), offers the latest intelligence and analysis on renewable energy markets, finance and policy.

The webinar will feature a quarterly market update and a discussion of key issues in financing U.S. offshore wind development. Offshore wind projects could be a major element in the growth of U.S. renewable energy over the next decade, yet significant questions remain about the financing of these large, capital-intensive projects.

The U.S. has seen a recent wave of major offshore wind project announcements, with 28 projects, totaling more than 25 GW, now in the project pipeline. Even as European banks, investors and capital markets have become increasingly comfortable with offshore wind as an asset class overseas, U.S. markets present new challenges. This webinar seeks to shed light on the following questions:

  • What will project capital structures look like for U.S. offshore wind projects? Will we see similar debt to equity ratios or the same evolution as Europe?
  • How many projects will be able to claim the ITC? How will tax equity affect the capital stack for early projects? Will traditional tax equity investors be able to accommodate to the longer construction time of offshore wind compared to solar and onshore wind?
  • Will the cost of capital be comparable to existing markets in Europe and Asia? How will this change over time?
  • Who will be investing in these projects? Will those European investors be active in the U.S. market as well? Will institutional investors enter the space at an early stage? Will it take time for capital markets to get comfortable with U.S. offshore wind?

Policy Update:

Greg Wetstone, President & CEO, ACORE

Todd Foley, Senior Vice President of Policy and Government Affairs, ACORE

Market Update:

Ethan Zindler, Head of Americas, Bloomberg New Energy Finance

Tom Harries, Senior Associate, Offshore Wind, Bloomberg New Energy Finance

Moderator:

Paul Zarnowiecki, Partner, Orrick

Panelists:

Dan Reicher, Executive Director, Steyer-Taylor Center for Energy Policy and Finance, Stanford University

Marshal Salant, Managing Director, Global Head of Alternative Energy Finance, Citigroup

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