offshore wind

Greater clarity that only the government can provide is needed around issues such as grid connections, financial certainty mechanisms and permitting, K2 Management’s Gary Bills explains.

A supportive administration will be crucial to unleashing the power of the sector in the US, but significant obstacles remain.

A surge of actors, including oil and gas players such as BP and Total, are coming late to the party and paying catch-up money for the entry ticket.

It's also a sign of how the UK oil major intends to 'do things differently' in the renewable energy space, including by taking on development risk.

The portfolio comprises six projects developed by Macquarie’s renewable energy platform Acacia.

GIG will invest around $11.6bn in the five projects, with the majority of funds coming from Korean institutional investors.

The joint venture will see the Danish fund manager expand its footprint in Asia.

Japan will designate one or more promotion areas for offshore wind energy each year as it aims to derive 1.7% of its energy from the sector by 2030.

A two-year extension to the FiT framework and a direct PPA programme could lead to greater opportunities for the sector, according to Fitch, but grid access and bankability of projects remain a challenge.  

The debt investment marks AMP Capital's first in Taiwan and supports the construction of Formosa 2, a 376MW offshore wind project.