Pasted below is an excerpt from the BOEM letter waiving the“pay as you build” financial assurance requirement for the Vineyard Wind project.
Comments on the 3 risk reduction factors cited in the letter:
Factor 1: Those “robust insurance policies” may soon be tested given the costs associated with the turbine blade incident and potential law suits. (The notice pasted below informs that Nantucket officials will meet on Tuesday to consider litigation. A question for attorneys is the extent to which Nantucket is compromised by their good “Good Neighbor Agreement” with Vineyard Wind. That agreement essentially calls on Nantucket to promote the Vineyard Wind projects in return for payments that seem modest relative to the economic benefits from tourism and fishing.)
Factor 2: To the extent that GE Vernova Haliade-X 13 megawatt turbines are proven technology (and that is very much in doubt), the use of proven technology doesn’t prevent premature abandonment associated with unexpected incidents.
Factor 3: Reliable power generation and predictable long-term income remain to be demonstrated.
Bud's Offshore Energy (BOE) 
[…] July 22 BOE discussed financial implications in: Vineyard Wind’s financial assurance waiver cites robust insurance policies, proven technology, and…. He posted an excerpt from the BOEM letter waiving the“pay as you build” financial assurance […]
[…] One of the reasons for waiving the “pay as you build” financial assurance requirement for Vineyard Wind was “the use of proven wind turbine technology.” […]