Subsea Cables Identified As Major Insurance Risk For The Offshore Wind Industry
- Published in Oil Gas Power Energy
DNV GL, announced the launch of its guideline "Subsea power cables in shallow water renewable energy applications" (DNV-RP-J301), which provides a comprehensive review of subsea power cable practice and advice for managing the risk commonly associated with the cables.
The recommended practice, which is free to download from www.dnvgl.com/rules-standards/default.aspx#2, is the most comprehensive of its type in the industry. Technical guideline covers entire lifecycle of subsea power cables, from concept development to decommissioning, and is a comprehensive resource of project guidance.
Many existing offshore wind farms have faced subsea power cable problems caused by underestimation of complexities and interrelationships Guideline will become essential tool for stakeholders involved in renewable energy projects, improving safety and lowering costs for the wind industry Problems with subsea cables have affected many offshore wind farms and damage to cables has been identified as a major insurance risk for the offshore wind industry.
Cable related problems are costly and most often arise from inadequate risk identification, lack of planning, sub-standard design and deficiencies in how procedures are applied. To date, cabling failures have cost millions of euros in delays and numerous legal disputes.