What happened
World Bank Group offshore wind adviser Mark Leybourne and project finance and infrastructure specialist Gregory Scopelitis discussed offshore wind deployment in emerging markets during a Turkish Wind Energy Association (TÜREB) programme.
The central message was that public authorities and private investors need a more even division of project risks if offshore wind is to progress. Leybourne said offshore developments need infrastructure distinct from that used for onshore renewable generation. He also cited European tender processes that failed to reach an outcome where risk allocation had become unbalanced.
For Türkiye, Leybourne referred to the national objective of 5 GW of offshore wind capacity by 2035. He said delivery would depend on a clear long-term policy framework, appropriate port capacity and investment in the electricity grid. Port facilities would need to support the movement and storage of turbine components, as well as operations and maintenance activity.
Scopelitis said rising interest rates, inflation and geopolitical uncertainty have made investors more focused on confidence in project delivery. Construction-stage delays can lift capital costs, he said, while domestic banks may struggle to take on the full range of risks associated with offshore wind projects.
Why it matters
The discussion identifies practical issues that could influence whether Türkiye’s offshore wind projects attract finance and move into construction. Developers, suppliers, lenders and public bodies will need to consider infrastructure and financing arrangements alongside generation targets.
Port and grid preparation before project implementation could provide greater certainty to potential bidders and investors. A long-term policy framework could also help clarify the basis on which risks are shared between the public and private sectors.
Scopelitis highlighted potential roles for financial institutions with international experience, multilateral development banks and export credit agencies. These partnerships may help strengthen project bankability where local lenders have limited capacity to carry complex offshore wind risks independently.
What to watch next
Türkiye’s 5 GW target sets the direction, but the speakers indicated that implementation will require early work on ports, grid connections and policy arrangements. Stakeholders considering offshore wind should monitor how these enabling conditions, including risk-sharing and financing structures, are developed ahead of project delivery.
