The average age of US wind turbines continues to rise, opening new opportunities for repower every year, with an estimated annual wind repowering investment of $25 billion by 2030, according to the National Renewable Energy Laboratory (NREL).

Repowering demand is expected to remain steady through 2021 and may increase during 2022 due to the recent PTC extension, as operators take advantage of the 80% tax credit; however, as PTCs eventually decline the fundamental calculations for repower shift. How do repower projects qualify for PTC and what aspects of the financials must shift with lower tax advantages? What advancements could sustain repowering activity for the next decade?

Hear the state of repowering today and predictions for the next decade in this insightful panel discussion, moderated by Partners Lloyd MacNeil and Philip Tingle. Grasp how to finance a repower and also move that power into load centers, while navigating changes in laws and regulations affecting local and regional jurisdictions. The panel will cover these topics and:

• New wind-turbine technology innovation
• Tax equity and finance considerations
• Contract structure of real property agreements
• Environmental and permitting considerations
• Strategies for operating through the PPA expiration
• Integration of storage and other technologies
• Lessons learned from repower to date

Organized by the Washington, DC sub-chapter of the Association of International Petroleum Negotiators (AIPN), this panel discussion, moderated by McDermott Partner Christopher Gladbach, will discuss the opportunities in new offshore wind projects in the United States. What do these opportunities mean for companies that already have a wealth of investment and experience in offshore oil and gas development? What will the challenges be for these companies to shift from pursuing “black gold”, and could offshore wind be the new “blue gold”?

This panel of speakers will look at the US Atlantic Region and the Gulf of Mexico. Topics to be addressed include:

• What are the federal plans for the Atlantic and Gulf of Mexico for offshore wind development? How might these plans change under a Biden Administration?
• What are some of the top development federal and state permitting challenges to expanding offshore wind beyond current forecasts? How are regulators and industry leaders resolving these?
• How are “traditional” oil companies with offshore investments viewing new opportunities in offshore wind? Are there significant potential synergies? How is the robust entry by IOCs affecting the market?
• How might the oil and gas community in the GOM benefit from and partner with the offshore wind industry over the coming years?
• What are the key challenges for financing offshore wind over the coming decade? Speakers will discuss tax equity, debt, and the private and institutional equity markets.