Abstract
The development of the renewable electricity generation industry is set to speed up now that the UK Government has stated its commitment, via the Renewables Obligation, to increase the level of the country's electricity needs met from renewable sources to 10% by 2010. With up to £150m proposed as grant funding for offshore wind farms and the prospect of up to 18 developments that recently pre-qualified for a sea bed lease from the Crown Estate, offshore wind is set to make an important contribution to the UK Government's targets. Neil Robertson, of NORD/LB London Project Finance gives an outline of the rationale behind, the mechanisms of and the potential issues relating to the raising of non-recourse, cost efficient project finance for offshore wind farm developments.
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