but offshore is now a big utility play, and not only do they usually have 50-100% of projects, but they don't even use project debt, funding it all on their balance sheets (which means multi-hundred million euro investments on their side).

Who is "they" ... that is, in the "big utility play", who's playing? The utilities themselves? Or the amorphous "thems that does utility plays"?

And "funding it all on their balance sheets" ... is that all equity funding?


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.