Sub-sea cable failures at offshore windfarms are beginning to take its financial toll. TetraTech has reported total insurance claims topped €60m in 2015. Although there were only 10 claims, the severity of them has impacted developers and project owners, amounting to 77% of their overall global costs of offshore wind farm losses. GCube has stated the main cause of faults come from contractor error, and that the faults amass after construction and during operational time. GCube's report advocates further dialogue between all stakeholders concerned.
Sub-sea cable failures at offshore windfarms are beginning to take its financial toll. GCube Underwriting Ltd has reported total insurance claims topped €60m in 2015. Although there were only 10 claims, the severity of them has impacted developers and project owners, amounting to 77% of their overall global costs of offshore wind farm losses. GCube has stated the main cause of faults come from contractor error, and that the faults amass after construction and during operational time. GCube's report advocates further dialogue between all stakeholders concerned.