Offshore Wind Projects

Still uncertainty tied to this, but one take-away is that if you have an offshore wind project in the works, you better button up the project management and controls activities! What went from “Have construction started” by a certain date to “Have project completed by end of 2027” – or lose the 30% tax credit will have massive impact on the investment calculations. For a $5 billion project that impact alone is $1.5 billion, which is slightly more than what I found in spare change last time I washed the car.

This will require intense discipline in project planning, execution and controls – critical components in protecting shareholder value.