Using Power Purchase Agreements to Address Uncertainty in Offshore Wind Projects

Paul Belval, Dave Doot and Andrew Bobenski's article on the unique considerations that must be made when drafting power purchase agreements (PPAs), specifically in regard to offshore wind projects, was published in Financier Worldwide. The article addresses the uncertainty that can be erased by effectively utilizing particular strategies and provisions in crafting the PPAs. It concludes by noting the delicate balance that must be reached, between achieving sufficient revenues to attract new capital and not creating "a windfall for the project at the expense of the State-regulated power purchasers and their customers."