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The Offshore Valuation Study
Wednesday 19 May - 11:00-12:30 - GORDON B
Session organised by PIRC
Session organised by PIRC
The Offshore Valuation Group will present findings of the first full economic valuation of Britain’s offshore renewable resource.
The new study explores scenarios to develop Britain’s offshore renewable resource to maturity. The central scenario is optimised for maximum long-term value to the UK from: electricity exports; technology exports; jobs; returns to UK investors; and avoided energy imports.
The 14 members of the Offshore Valuation Group are: DECC, Scottish Government, Welsh Assembly Government, Crown Estate, Energy Technologies Institute, SSE, E.ON, RWE Innogy, Mainstream Renewable Power, RES, DONG Energy, Statoil, Vestas & PIRC.
The analysis is undertaken by Boston Consulting Group and coordinated by Public Interest Research Centre (PIRC).
Four decades of investment in extracting the hydrocarbon stock of North Sea oil and gas has paid strong financial dividends. While it is well known that Britain’s exposure to powerful Atlantic winds underpins the largest and most valuable marine energy resource in Europe, the value of this second offshore energy asset has not been quantified. Developing this Atlantic Asset to maturity is the subject of this study.
Speakers:
- Andrew Mack Project Leader, Boston Consulting Group
- Dr Eddie O'Connor, CEO, Mainstream Renewable Power
- Tim Helweg-Larsen, Director, Public Interest Research Centre
- The question we asked
- The approach - strategic analytical approach / enabling concepts and technologies
- The findings - scale of future demand / scale of future resource
- Insights and conclusions; actions
- Q&A involving speakers and the Steering Board
