EM&I Thought Leadership in Energy Global: Unlocking Insurability
April 23rd, 2025
Danny Constantinis, Executive Chairman and CEO of the EM&I Group, Malta, reviews how lessons from oil and gas can aid the development of risk criteria for offshore wind structures and emphasises the value of risk data for offshore wind insurance.
The floating offshore wind (FOW) sector is poised for massive growth, yet faces a major hurdle: insurance. With insurers lacking sufficient lifecycle data on these relatively new assets, assessing risks—from design to decommissioning—remains challenging. This uncertainty makes it harder to secure investments, as bankability hinges on insurability.
EM&I, leveraging decades of offshore oil and gas experience, is stepping in to fill the data gap. By adapting risk assessment methodologies used in oil and gas and deploying remotely operated vehicles (ROV) and other techniques for inspection and maintenance, EM&I aims to enhance asset reliability and minimise operational disruptions.
A key development is the shift toward risk-based inspection (RBI), which prioritises critical components for monitoring to mitigate failure. This approach recognises that in floating wind, the main risks are commercial—not human or environmental.
The industry lacks unified standards and faces inspection challenges due to design limitations and environmental conditions. EM&I’s guidelines, now under review, propose a lifecycle risk framework tailored to FOW wind assets.
Ultimately, better data and proven risk strategies are essential to unlock investment and drive the transition from pilot projects to full-scale commercial deployment.
