Offshore contracting body the International Marine Contracting Association (IMCA) has published a transport and installation contract aimed at promoting sustainable contracting in offshore development including wind farms.
The document, which the IMCA will encourage offshore developers to sign, encourages a more “realistic” allocation of risk proportionate to the relative rewards, making sure insurance is of sufficient scope, and avoiding duplicate risk assumptions in an effort to avoid potential disputes and make the process fairer for the parties involved.
Iain Grainger, CEO at the IMCA, pointed out that action was needed to prevent more delays or cancellations for offshore wind projects as seen in the UK and US recently.
“It’s not hyperbole to suggest that net zero targets around the globe are at risk if offshore wind projects continue to be delayed and cancelled,” he said. “With widespread adoption, [the contract] can become the foundation for a fairer and more sustainable approach in offshore wind.”
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