Global Offshore Project - Marine Renewables
Fit for purpose provisions in offshore wind construction and installation contracts
In the last couple of years two cases have been heard by the English Courts which consider the meaning and scope of fitness for purpose provisions in offshore wind construction and installation contracts. Although similar in some respects the cases differ both factually and legally but demonstrate the type of issues contractors can face in relation to offshore wind construction contracts and renewables projects more generally.
Innovation within marine renewables
Marine renewables is still a relatively young industry and provides a setting where innovative thinking and entrepreneurship can and does flourish.
The installation and maintenance of offshore wind farms require personnel and equipment which has to be transported to and from offshore sites. Specialised vessels, typically small monohulls or catamaran vessels that carry up to 12 passengers, offer such services.
FIDIC – the potential pitfalls moving from onshore to offshore
There is no standard contract in use in offshore construction projects.
Contracting in the marine renewables industry
Contracts within the marine renewables industry often offer interesting opportunities for owners of offshore and installation vessels traditionally operating within the offshore oil and gas space.
NORWAY: Future hub for funding of green projects?
Norwegian financial institutions, investment banks and governmental funding institutions have played a significant role in the growth of the shipping and offshore industry, developing a tradition of close partnerships with Norwegian industrial entrepreneurs.
CHINA: Opportunities in an emerging wind jurisdiction
China’s demand for electricity continues to grow voraciously and whilst China’s energy supply continues to be dominated by coal fired power stations, more recently the Chinese government has shown a stronger commitment towards using renewable sources of energy.
Policy framework for the offshore wind industry
The policy framework for the offshore wind industry has to a large extent been linked to available government support schemes. The industry is however evolving quickly and growing larger by the day and the level of subsidies is dropping. A current trend seen in all major markets is an ongoing shift from feed-in-tariff and certificate based systems, to more competitive auctions often involving Contracts for Difference (CFDs). The main reason for this shift is cost reductions made possible due to factors such as industry maturity, rapid technology advancement, economies of scale and political cycle.