Wind is a risk too far for wary bankers

Capitalism, according to the cliché, is about taking big risks in return for big rewards, but the urge for risk-taking was in short supply among bankers and lawyers at a recent conference on financing offshore wind projects. Dominik Thumfart, the head of renewable energy at Deutsche Bank's asset finance and leasing group, described financiers' current fears. These include construction risk; bad weather leading to project delays; storm damage; the financial failure of contractors; and technology risk involving unforeseen problems with turbines.