Is Financial Close for NPI’s 1,044MW Hai Long OWF project a slam dunk? Unfortunately, the answer is no.

Many of the participating banks are beating a hasty retreat, according to a local report citing finance insiders. This unfortunately matches exactly what I’ve been hearing from the offshore wind insiders. The problem is, the banks who were gonna fund Hailong are all the same banks that is in the process of getting their fingers burnt on the Yunlin OWF project.

According to the financial professional cited by the local report in the Commercial Times, the participating banks found it objectionable that

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