The offshore wind industry is urged to move towards standardised contracts to reduce risk and save project time, say energy consultancy Xodus Group and legal advisors Shepherd and Wedderburn.
Richard Cockburn, Partner in the Energy Group at Shepherd and Wedderburn says: “Developing a new standardised form of contracts for the offshore wind industry would slash time on negotiations between developers and the supply chain and save money.
“The industry should develop a bespoke contracts system for offshore wind that allocates technical and commercial risks in a fair and appropriate manner and is project finance friendly.”
Eric Doyle, Alternative Energy Manager at the Aberdeen-headquartered Xodus Group says: “The offshore wind industry should not underestimate the cost of risks and planning ahead with standard contracts can help to minimise some of those liability issues from the start of a project.”
