News Release from Green Thinking (Services) Ltd. China Works

The US Offshore Wind Industry is Ready to Set Sail

Head of Wind Power, Julia Goddard speaks with Peter Mandelstam, President and Founder, NRG Bluewater Wind

NRG Bluewater Wind reaffirm the need to support first-mover offshore wind projects in the US and jumpstart the first 3GW of US offshore wind power

Green Power Conferences’ Head of Wind Power, Julia Goddard, recently caught up with Peter Mandelstam, President and Founder, NRG Bluewater Wind and a key speaker at the forthcoming Offshore Wind Power USA 2012 Congress.

Regulatory certainty, revenue certainty and market development
GPC: What key hurdles need to be overcome in order to maximize US offshore wind potential?
PM: Mainly, there’s no way to finance offshore projects at this moment. Although there’s a bill in Congress to extend the Investment and Production tax credits, it’s only part of the story.  There still needs to be a loan guarantee or equivalent financing mechanism and it seems to me that the federal government is the only player big enough to fill that role at this moment. That may change, but first we’ve got to get at least two or three projects in the water, which will also generate many jobs and launch a new industry.

Attracting finance and the need for long-term incentives to jumpstart US offshore wind
GPC: What will be the most important topic of discussion at Offshore Wind Power USA 2012?
PM: Tax credits, continued education of European banks on the attractiveness of the US Market, and the increased number of active lease areas under competition in the US, which by then could include New Jersey, Maryland, Virginia, and Massachusetts. 

What is it going to take to get the US offshore wind industry up and running?
GPC: How can the US offshore wind power industry increase capital flow and improve investor confidence?
PM: The industry needs to continue educating state legislatures and public service commissions about the value of offshore wind. As with the offshore wind legislation enacted into law in Delaware and New Jersey, this effort produced real projects that led to private developer interest and investment.  Capital and investment flow to countries with consistent energy policy and a portfolio of projects; the supply chain then follows those projects, further increasing capital flow and private investment.

3rd Annual Offshore Wind Power USA 2012
With over 15 leading offshore wind developers and utilities in attendance this 3rd annual event is fast becoming THE annual global meeting place for the US offshore wind industry. The 2012 expanded edition will see all the leading minds from developers, financiers and government again meeting in Boston in the Hynes Convention Center. Just some of the key global players speaking include: 

Leading industry, government and utility perspectives:
Jim Lanard, President, Offshore Wind Development Coalition                               
Laura Smith Morton, Senior Advisor, Renewable Energy, US DOE
Michael Deering, Vice President for Environmental Affairs, LIPA
Jeanne Fox, Commissioner, New Jersey Board of Public Utilities
Justin Sobol, Manager of Renewable Energy Development, Florida Power & Light

Prominent US offshore wind developers:
Tim Ryan, President, Apex Offshore Wind
Daniel Cohen, President, Fishermen’s Energy of New Jersey
Jeff Grybowski, Chief Administrative Officer & Senior Vice President of Strategy, Deepwater Wind
Robert Gibbs, Vice President, Garden State Offshore Energy and Manager Development – Renewable Energy, PSEG Global
Peter Mandelstam, President and Founder, NRG Bluewater Wind

Key financiers:
Frank Napolitano, Managing Director, Group Head, US Power & Utilities, RBC Capital Markets
Eriks Atvars, Director, Project Finance, UniCredit
Brian Redmond, Managing Director, CP Energy Group
Richard Straebel, Executive Vice President, Marubeni Power International

Plus hear from leading European players including:
Andy Kinsella, Chief Executive and Director, Mainstream Renewable Power (Major developer)
Trine Ingebjorg Ulla, Head of Offshore, Statoil (Oil Company)
Senior representative, Iberdrola Renewables (Major developer)
Pierre Bernard, Secretary General, Director, Business Development, Elia (Transmission)

Side Event 1 Day Expert Training Course: Introduction to Offshore Wind Economics & Risks
Green Power Conferences
Julia Goddard
Head of Wind Power, Julia Goddard speaks with Peter Mandelstam, President and Founder, NRG Bluewater Wind

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