Offshore Wind Risk Management
Training Course
14 hours online / 2 days face to face
Offshore Wind Project Managers
Risk Managers
Project Finance Managers
Offshore Wind Engineers
Environmental Risk Analysts
Operations Managers
Energy Risk Analysts
HSE (Health, Safety, and Environmental) Managers
Technical Consultants
Marine Operations Managers
Investment Analysts
Contract Managers
Regulatory Compliance Officers
Asset Managers
Business Development Managers
Offshore wind is one of the fastest growing areas of renewable energy in the world. Europe is the frontrunner in the development in this industry and a lot of valuable lessons are to be learned for other parts of the world. Help you to shorten the learning curve, lowering the risks and costs.
Based on over 25 years of professional experience in the electricity markets, risk management, (Corporate) Power Purchase Agreements and offshore wind projects, in this highly interactive training course our expert will share his insights about how to best manage and mitigate the risks of the business case, construction and operational phase of new to build offshore wind farms. Certainly also taking into account how the leading energy companies in the world are managing these risks
A lot of real life examples and business cases will be shared to allow you to bring theory into practice. In this way the course will give the highest value to you and your business. the learning curve, lowering the risks and costs.
"Introduction • The Project Value chain
• Structure and Financing Project
• Project vs. Balance sheet financing
• Role Environmental attributes
• CAPEX and OPEX
• Role renewable regulations
• Role subsidies
• Role storage, energy efficiency, demand side response"
"Project Risk Management • Risk Management Organization
• Risk Management Process
• Risk Assessment
• Financial risk metric(s)
o IRR"
"Business Case Risk • Electricity Price Risk
o Low wholesale prices (short and long term)
o Negative electricity prices
o Curtialment
o Profiling risk (cannibalization)
o Inflation Risk
o High financing costs"
· Imbalance costs developments (short and long term)
o Development of energy mix
· Volume Risk
o Lack of trading capabilities
o Volume risk related to energy yield
· Additional financing and revenue risks
o Financing Risk
o Credit Risk
Mitigation Strategies Financial Yield
· Internal and external sales strategy
o Pricing period
o Market Access contract
o Corporate PPAs
o Financial strength offtaker
o Guarantee system
· Financing Strategy
o Debt Finance
o Variable interest rate hedging
Risks Construction Phase
· HSE (Health & safety and Environment Risk)
· Supply risk for crucial components
o Non-availability or delayed delivery of suitable generation facilities and/or crucial components
o Significant increase of the commodity and fuel costs
· Transportation and installation risk
· Stakeholder management and third parties
· Damage to wildlife and/or environment
Mitigation Strategies Construction Risks
· Design and Procurement Strategy
o Site specific design solutions
o Transport and installation strategy
o Different work packages
o Hedging price risk raw materials and fuels
o Supply chain management expertise
o Project specific contracts
· Security of Supply Strategy
o Reservations
Risks Operations Phase
· HSE
· Activities
o Limited access to qualified workers
o Low availability
o Availability of equipment
· Energy Yield
o Lower short and long term average wind speed
o Annual variations wind and impact on liquidity
o High amount of curtailments
· Functioning of the technology
o Scheduled maintenance and availability
o Lower energy conversion
o Technical failures
o Uncertainty O&M costs
o External risk events
Mitigation Strategies Operation Risks
· O&M strategy
o Sourcing: own vs. contracted capacity
o Access: logistics concept
o Human resource: ensuring enough qualified workers
· Optimization accessibility and availability
o Design
o Choice of Logistics
· Financial Management
o Monitoring operating margins and financial buffers
o Sensitivities
o Suppliers’ guarantees
o Insurance policies