The experience of engineering, procurement and construction (EPC) company Fluor with the Greater Gabbard project is a sobering one for the offshore wind industry. Leading banks have been pushing for the industry to move to an EPC model. Entrusting projects to huge, experienced infrastructure companies with big balance sheets, they argue, protects investors from the risk of subcontractors going bankrupt and shields them against any financial impact from project delays and cost overruns.
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