Tongues started to wag some months ago when European contractors declined to bid at all for the construction of a significant UK offshore wind farm development on an EPC basis. But the pundits should not have been surprised. EPC contracting has been under mounting pressure from market forces for some years, especially in the offshore renewables sector. Its popularity may now be in rapid, indeed terminal decline.
Engineering Procurement Construction ("EPC") contracts typically pass all design development and construction risks to the contractor....
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