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Offshore windfarm projects

Supporting more than 24 gigawatts of offshore wind projects worldwide, our team of global specialists understands the challenges you face and offers tailored risk management solutions at every stage of your project.
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Comprehensive solutions

Access to global insurance markets, bespoke policy wording, and risk allocation strategies that suit your project partners and stakeholders.

Sophisticated risk modeling

Insightful data and proven proprietary modeling tools give you control and help optimize your total cost of risk.

Deep expertise

Our advisors, engineers, brokers, claims advocates, and finance and commercial specialists will help you manage complexity and stay in control of your project.

Wind energy is set to lead the clean energy transition and become one of the world’s most important energy sources. Locating windfarms offshore has many advantages, such as steadier and faster wind speeds, but it also presents unique challenges.

As the energy transition accelerates and wind technology continues to evolve, investors, operators, and insurance markets will be focused on managing key risks and ensuring offshore windfarm project success.

The primary risk considerations include:

  • Location. A project’s location could increase construction or maintenance costs, or expose assets to extreme weather or natural catastrophe events.
  • Equipment faults. Common offshore wind technology issues include damage to cables and outages caused by transformer failures, which may lead to revenue losses and affect return on investment.
  • Technology scale-up. Wind turbine technology is still evolving. Insurance markets often take a cautious approach to ‘unproven’ technology advancements.
  • Maintenance. Restricted access to remote sites may cause delays to maintenance and fault repairs, and local regulations may define requirements for contractors and maintenance crews.
  • Project financing and insurability. Lender-financed projects can have complex contractual structures. Investors must use an appropriate risk allocation model, consider probable loss scenarios, and align insurance requirements of all stakeholders.

Read our full guide on risk management solutions for offshore wind projects.

Download now

Marsh provides you with a tailored approach and comprehensive solutions

We understand that every project is unique. Our team will support you through each project milestone to optimize your risk management strategy.

Design

Position your project for success

  • Enginerring support
  • Technology analysis
  • Loss modeling
  • Stakeholder management
  • Insurance budgeting

Construction

Get it built

  • Supply chain analysis
  • Health & safety strategy
  • Operational insurances
  • Hand-over to operations

Operation

Protect your assets and your business

  • Risk management framenwork
  • Captive strategy
  • Loss limit reviews
  • Specialist claims services
  • Decommissioning planning

Decommissioning

Close it out responsibly

  • Risk and liability review
  • Ongoing insurance

Our people

Our global renewable energy team includes insurance advisors, risk engineers, brokers, claims advocates, project finance specialists, and former industry risk managers. Contact one of our offshore wind leaders for support.

Robert Hale

Robert Hale

Power & Renewable Energy Leader UK

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