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