U.K. Offshore Wind Risks Failing to Reach 10 Gigawatts
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The U.K. risks failing to attain the 10 gigawatts of offshore-wind power it says is possible by 2020 unless the country does more to curb construction and financing hazards for developers, Bloomberg New Energy Finance said.
"The government is anxious to convince investors and banks that it has built a cost-effective incentive system to drive the construction of offshore wind projects in the next few years," said Sophia von Waldow, an offshore-wind analyst at Bloomberg New Energy Finance. "We are not convinced that it has yet done enough to minimize the complex web of risks that these projects, often in deep water and far from shore, will face."