GL Garrad Hassan at EWEA Offshore 2011: The "Real" Capital Expenditures

Hamburg/Germany, Bristol/UK, (PresseBox) - The process of financing an offshore wind farm is complex, multiple contracts with different suppliers and contractors raises a multitude of commercial risks. The final amount of total capital expenditure (CAPEX) of a project is one of the central questions in financing a wind project and estimating this total CAPEX upfront is a challenge. In his presentation at the EWEA Offshore Conference in Amsterdam this week, Wilhelm Heckmann, GL Garrad Hassan, shows how accurately quantifying these risks, their probability, and the impact of their occurrence, can lead to a significant improvement in the quality of the budget calculation for CAPEX.

Oversight and/or misallocation of risk represent the greatest potential for loss within a project's financing. Various risks can have a knock-on impact on other risk items, often located within different contracts. The incorporation of these impacts into the stochastic analysis is an important mechanism as it simulates the 'chain-reaction' that occurs along the critical path of the construction programme, should one or more contractors be late in finishing their work.

In his presentation Mr Heckmann will give an overview on the complexity of capital expenditures and their associated contracts, the risk allocation within single contracts and contract interfaces, the determination of risk items and their impact of their occurrence, and the need to control and monitoring risk as a continuous process.

About GL Garrad Hassan

GL Garrad Hassan is one of the world's largest dedicated renewable energy consultancies and a recognised technical authority on the subject. It offers independent technical and engineering services, products, and training courses to the onshore and offshore wind, wave, tidal and solar sectors. Although the GL Garrad Hassan name is new, the company has a rich heritage. It is borne of the integration of specialist companies that, united, form the renewable energy consulting division of the GL Group. GL Garrad Hassan is a consulting company; it has no equity stake in any device or project. This rule of operation is central to its philosophy, something which sets it apart from many of its competitors. For further information, please visit www.gl-garradhassan.com

Press releases you might also be interested in

Subscribe for news

The subscribtion service of the PresseBox informs you about press information of a certain topic by your choice at a choosen time. Please enter your email address to receive the email with the press releases.

An error occurred!

Thank you! You will receive a confirmation email within a few minutes.


I want to subscribe to the gratis press mail and have read and accepted the conditions.