Offshore Wind Financing by Jérôme Deflesselles from Société Générale

Written on 31 March 2014.

Société Générale

After a brief overview of the different offshore wind technologies, Jérôme Deflesselles presented the four key elements of analysis of an offshore wind deal. The first focus was on the economics of the deal and highlighted resource evaluation, legal issues, regulatory and tax regimes and the overall cost competitiveness. He then touched upon the typical sponsorship of such projects. In general, sponsors can be found among utilities or industrial companies. Mr Deflesselles also tackled the main issues during the construction phase and the mitigate risks for lenders. Finally, the operation phase was mentioned as well as the key cash flow drivers.

The second part of the conference dealt with financing and the main commercial lenders, structuring and the government initiatives to attract investments in that particular sector.

Jérôme Deflesselles concluded his presentation by highlighting the major role played by SGCIB in this promising sector.

The conference was followed by a Q&A session led by the FE Finance Club where project bonds as a possible alternative to offshore wind financing was discussed.

Société Générale is the Corporate Programme Sponsor of the EDHEC MSc in Corporate Finance & Banking.

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