Offshore-Wind Revenue Bankability Director

The mandate

The project combines indexed auction support with merchant tails, negative-price provisions and volume exposed to capture-price, basis and imbalance risk. Engineering yield cases and market forecasts use incompatible availability, loss and curtailment assumptions, while proposed hedges may introduce collateral and shape mismatch. The defined problem is to build a lender-grade revenue case that preserves upside without disguising risks the project company cannot operationally manage.

The deliverables are an energy-to-cash model, contract and market-risk map, capture-and-basis scenarios, hedge option book, lender sensitivity pack, governance design and bankability dossier. The work must connect wind resource, wake, technical availability, electrical losses, grid constraints, curtailment, imbalance, auction settlement, negative prices, indexation, merchant price, hedge profile, collateral and tax using client-approved technical and legal inputs.

Four milestones govern six months: week five accepts the physical and contract baseline; week twelve approves market scenarios and hedge structures; week nineteen completes lender and independent-market challenge; and week twenty-six delivers the chosen revenue architecture, downside, covenant inputs, implementation decisions and fallback. Billing follows acceptance of each milestone.

Acceptance requires energy and revenue cases to reconcile hourly for representative periods, technical advisers to own yield and loss assumptions, counsel to confirm contract interpretation, and hedging economics to include basis, volume, credit and collateral. Lenders must be able to reproduce debt-service sensitivities, and the committee must see which risks sit with project, offtaker, hedge provider, grid or sponsor.

The client provides yield studies, availability and loss assumptions, grid terms, auction and offtake documents, market forecasts, hedge indications, tax and legal opinions, financing model and lender access. The consultant does not certify energy yield, arrange or trade hedges, negotiate binding terms, provide legal or tax advice, select banks for compensation or approve investment.

Why this is external work

Engineering, market, offtake and finance teams each own valid assumptions but reconcile them only after cases are complete. Hedge providers naturally frame risk around instruments they sell. Independent revenue expertise can connect hourly production to cash, test conditions absent from headline price forecasts and create lender evidence without earning a transaction fee from the selected offtake or hedge route. That separation matters before sponsors lock the debt case.

What you will own

• Reconcile resource, wake, availability, loss, grid, curtailment and imbalance assumptions into hourly saleable energy by season and connection point.
• Translate auction, offtake, merchant and negative-price terms into indexed cash flows and accountable contract interpretations.
• Model capture price, location basis, shape, volume, imbalance and curtailment under correlated operating and market conditions, including low-wind scarcity and congested-grid hours.
• Compare hedge options for tenor, profile, credit, collateral, volume tolerance, basis and termination consequence.
• Align revenue downside with debt service, reserve, covenant, distribution and sponsor-support assumptions across construction completion and operating years.
• Facilitate lender and market challenge while distinguishing attributable appetite from product-provider advocacy.
• Deliver the bankability model, option book, evidence record, governance and unresolved commercial choices.

Candidate qualifications

• Has built lender-grade revenue and hedge cases for large offshore wind or comparable variable renewable projects reaching committed financing.
• Understands hourly yield, wake, availability, electrical loss, curtailment, capture, basis, imbalance and contract settlement.
• Has evaluated hedges including collateral, volume and profile mismatch rather than comparing fixed prices alone or ignoring settlement mechanics.
• Can reconcile independent technical and market advisers without appropriating their formal opinions.
• Has defended revenue sensitivities before commercial lenders, technical advisers and investment committees through financing diligence and credit challenge.
• Produces transparent models and decisions independent of hedge-arrangement or offtake transaction fees.

Non-negotiables

• Can maintain the Oslo hybrid cadence and attend both market workshops and monthly lender reviews.
• Will disclose relationships with developers, offtakers, hedge providers, lenders, advisers and turbine suppliers.
• Brings offshore-renewable revenue bankability; generic power-price modelling alone is insufficient.
• Will not arrange hedges, certify yield or accept compensation tied to financing or offtake selection.

1. 49 words maximum. Which hourly mismatch most often makes an offshore-wind hedge appear more protective than it is?
2. 49 words maximum. How would you reconcile engineering yield and market capture-price assumptions?
3. 49 words maximum. What lender sensitivity would most challenge the proposed revenue structure?