Green Power Conferences
January 05, 2012
January 5th 2012 - Boston, Mass. Green Power Conferences' Head of Wind Power, Julia Goddard, recently caught up with Jim Lanard, President of the Offshore Wind Development Coalition and a key speaker at the Offshore Wind Power USA 2012 Congress.
The 3 critical factors are regulatory certainty, revenue certainty and market development.
GPC: What key hurdles need to be overcome in order to maximize US offshore wind potential?
JL: There are three key hurdles that need to be overcome to maximize the potential of the US offshore wind industry. First is regulatory certainty, which requires well-established federal and state permitting policies. Federal and state agencies will need to be prepared to thoroughly review applications for offshore wind farms in a fixed time period so that applicants can adequately prepare their development, procurement, construction and installation and financing plans.
Second is revenue certainty, which requires federal (and perhaps state) policies to support first-mover offshore wind projects. In the US, traditional power sources have received nearly a half-trillion dollars of federal support over the past five decades. Offshore wind, new to the US, should be eligible for Investment Tax Credits, cash grants and loan guarantees similar in scale to what our existing power generation sources have benefited from for the past 50 years. Third is market development. Without markets in which to sell their power, offshore wind developers -- and their investors -- will be hesitant to make the necessary investments that will turn this nascent industry into a large economic engine for the US, creating thousands of jobs and numerous economic development opportunities.
Attracting finance and the need for long-term incentives to jumpstart US offshore wind
GPC: How can the US offshore wind power industry increase capital flow and improve investor confidence?
JL: Offshore wind developers are actively advocating for policies to jump start the industry in the US. They have established excellent relationships with the investor community and expect that the necessary debt and equity will be available when they are needed. Interest from European developers and investors continues to grow and we expect to see this interest translated into investments at the appropriate time.
What is it going to take to get the US offshore wind industry up and running?
GPC: What will be the most important topic of discussion at Offshore Wind Power USA 2012?
JL: The European offshore wind industry is driven by energy policies that seek to address issues such as climate change, energy security and energy independence. US policies generally do not consider these issues when the efficacy of offshore wind is considered. Hence, the question at Offshore Wind Power USA 2012 likely will be: "What is it going to take to get the US offshore wind industry up and running?" The answer: Regulatory certainty, revenue certainty and market development, as we discussed in the answer to Question One above. Those three points serve, if you will, as the three legs of a tripod that all support job creation and economic development -- the primary driver that will allow the US offshore wind industry to reach its full potential.
3rd Annual Offshore Wind Power USA 2012
With over 15 leading offshore wind developers and utilities in attendance this 3rd annual event is fast becoming THE annual global meeting place for the US offshore wind industry. The 2012 expanded edition will see all the leading minds from developers, financiers and government again meeting in Boston in the Hynes Convention Center. Just some of the key global players speaking include:
Leading industry, government and utility perspectives:
Jim Lanard, President, Offshore Wind Development Coalition
Laura Smith Morton, Senior Advisor, Renewable Energy, US DOE
Michael Deering, Vice President for Environmental Affairs, LIPA
Jeanne Fox, Commissioner, New Jersey Board of Public Utilities
Justin Sobol, Manager of Renewable Energy Development, Florida Power & Light
Prominent US offshore wind developers:
Tim Ryan, President, Apex Offshore Wind
Daniel Cohen, President, Fishermen’s Energy of New Jersey
Jeff Grybowski, Chief Administrative Officer & Senior Vice President of Strategy, Deepwater Wind
Robert Gibbs, Vice President, Garden State Offshore Energy and Manager Development – Renewable Energy, PSEG Global
Peter Mandelstam, President and Founder, NRG Bluewater Wind
Frank Napolitano, Managing Director, Group Head, US Power & Utilities, RBC Capital Markets
Eriks Atvars, Director, Project Finance, UniCredit
Brian Redmond, Managing Director, CP Energy Group
Richard Straebel, Executive Vice President, Marubeni Power International
Plus hear from leading European players including:
Andy Kinsella, Chief Executive and Director, Mainstream Renewable Power (Major developer)
Trine Ingebjorg Ulla, Head of Offshore, Statoil (Oil Company)
Senior representative, Iberdrola Renewables (Major developer)
Pierre Bernard, Secretary General, Director, Business Development, Elia (Transmission)
Side Event 1 Day Expert Training Course: Introduction to Offshore Wind Economics & Risks
The information on this page was created and posted by the company identified above. RenewableEnergyWorld.com does not endorse, edit, or substantiate this information and assumes no obligation for this content's accuracy.