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LEADING OFF Offshore Renewables

Source: GIEK ogger Bank, a wind farm site in the UK North Sea The total senior debt facilities across the two phases are consisting of three phases A, B, and C, will cumu- $6.4 billion, plus ancillary facilities of around $935.8 million. latively be the world’s largest offshore wind farm, The ?nal group of lenders, comprising 29 banks and three once in operation a couple of years from now. export credit agencies, includes experienced lenders in the

D

Fittingly, being the world’s largest, the wind farm will fea- sector along with relationship lenders of both SSE and Equi- ture the world’s largest wind turbines, GE’s 13MW Haliade- nor. One of them is the Norwegian Export Credit Guarantee

X for the A&B phases, and 14MW for the C phase. Agency GIEK.

What is more, the project, owned by Equinor, SSE, and Take note, while the Norwegian companies, such as Equi- recently Eni (A&B phases) has recently struck another nor, own offshore wind farms internationally, they have yet to “world’s largest.” The largest offshore wind project ?nancing build one at home. Worth noting, the construction of an off- to date globally. shore wind farm – a ?oating one at that – has recently started january/february 2021 OFFSHORE ENGINEER 9