KBRA Releases Research – Offshore Wind: Opportunities and Challenges to Irish Development

DUBLIN--(BUSINESS WIRE)--#creditratingagency--KBRA releases a report examining the opportunities and challenges facing Ireland's renewable energy market, as well as how the country's ambitious renewable energy targets could transform into a realistic proposition over the coming years. Offshore wind energy has been a prominent feature of the Danish, UK, and other European markets for several years, and now presents an emerging opportunity to transform Ireland’s energy markets. However, significant obstacles lie ahead, including political, regulatory, and commercial challenges.

Key Takeaways

• Ireland has outlined ambitious plans to deliver 20GW of offshore wind power by 2040, more than triple the current nameplate capacity.
• These plans come with regulatory, commercial, technological, and other challenges. Specifically, construction risk, development cost risk, permit-related matters, ensuring a robust auction process, and enabling infrastructure are all important for Ireland to develop a strong market.
• Multibillion euro projects mean both private and public capital markets are key to support the renewable transition. The use of contracts for difference (CFD) and power purchase agreements (PPA) are important to help support and reassure potential financiers.

Click here to view the report.

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About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

Doc ID: 1004672

Gordon Kerr, Managing Director, Head of European Research
+44 20 8148 1020
gordon.kerr@kbra.com

Karim Nassif, Senior Director
+353 1 588 1245
karim.nassif@kbra.com

Garret Tynan, Managing Director, European Head Project Finance and Infrastructure
+353 1 588 1235
garret.tynan@kbra.com

Andrew Giudici, Global Head of Corporate, Project, and Infrastructure Finance
+1 646-731-2372
andrew.giudici@kbra.com

Arinjoy Bhanja, Senior Analyst
+353 1 588 1271
arinjoy.bhanja@kbra.com

Media Contact

Adam Tempkin, Director of Communications
+1 646-731-1347
adam.tempkin@kbra.com

Business Development Contacts

Mauricio Noé, Co-Head of Europe
+44 20 8148 1010
mauricio.noe@kbra.com

Miten Amin, Managing Director
+44 20 8148 1002
miten.amin@kbra.com