Offshore wind to be big business, says new Fitch MD

Offshore wind projects and the newly expanded European Union will both bring good opportunities to Fitch Ratings over the coming 18 to 24 months, according to the Fitch Energy Group’s new European, Middle East and Africa (EMEA) managing director Andrew Steel.

Talking to Energy Risk on his appointment, Steel says he joins the ratings agency at a very exciting time. “We’re the 3rd rating agency, so there is plenty of opportunity to improve and to increase the volume of our business,” Steel says. “There will be a tremendous amount of activity with the EU25,” he says, talking of the expansion from 10 countries to 25 member states earlier this year.

Steel also sees a strong future for rating wind projects, particularly offshore projects. “Wind will be