Covid-19 impact on offshore wind 'limited' but risks remain

摘要

Leading analysts in the sector have confirmed that, to date, the effect of Covid-19 on the global offshore wind industry has been limited. Supply chains have been affected a little, they say, but in the longer term the pandemic could potentially have consequences for financing. Wood Mackenzie analyst Robert Liew told a May 2020 webinar on the offshore wind market that the company believes the pandemics effect on financial markets could affect offshore wind and increased currency risk could delay final investment decisions. Wood Mackenzie vice president and head of APAC power and renewables Mark Hutchinson told the webinar credit availability and interest rates affect the competitiveness of renewables because of the high level of capital investment required. Mr Hutchinson said a 10% increase in average costs of capital could lead to a 6% increase in the levelised cost of energy (LCOE) of renewables. "The higher the share of capex as part of LCOE, the more significant the impact of financing costs," he explained. But he also noted that a double-digit decline in the LCOE of wind over the next five years remains plausible thanks to ongoing cost reduction.