Offshore Wind Development Go-to-Market Strategy Assessment
Regional characteristics, including policy, key local market participants, and local energy generation economics, are key considerations when creating clean energy development projects.
- Detailed assessment of regulatory and economic factors
- Potential for > 1GW of offshore wind capacity
- Informed bidding strategy against 12+ renewable developers
Challenge
A global energy company, specializing in the development, construction, and operation of utility-scale renewables assets, engaged ScottMadden to assess go-to-market strategies for a potential offshore wind project in the southeastern United States. Our client had deep knowledge and experience with offshore wind technology in other markets but was looking to understand the regional dynamics that could impact project viability and long-term asset value. They turned to ScottMadden, given our extensive history working with utilities and various energy market participants, to help inform their project assessment and bidding strategy before a U.S. Bureau of Ocean Energy Management (BOEM) offshore lease auction.
Our client was hoping to gain a better understanding of various issues, including:
- Position and role of key market participants (e.g., IOUs, cooperative and municipal utilities, etc.)
- State regulatory environment, including impacts of legislation and executive and commission orders
- Regional energy economics and competing generation options
- Energy contracting processes and potential market-entry strategies
- Transmission development landscape and regulatory process, including enablers and barriers
Process
- Research and summarize the evolving clean energy policy landscape
- Assess routes to market for energy offtake
- Evaluate diverse project development risks and value drivers
Result
- Summarized our findings and analysis in a comprehensive report
- Outlined opportunities for and challenges to deploying offshore wind in the southeastern United States
- Provided client with holistic view of economic, political, and regulatory dynamics
- Informed bid against more than a dozen other developers pursuing leases
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