On behalf of a floating offshore wind farm developer, Westwood provided a detailed review of the offshore energy landscape in selected areas of the North Sea.
Project Brief
Provide a detailed review of the offshore energy landscape in selected areas of the North Sea. Our scope of work included:
- Geospatial analysis of offshore energy asset clusters (nowcast and forecast)
- Assessment of decarbonisation potential across energy clusters, considering emissions sources and electrification potential
- Scenario analysis of exposure to changes in commodity and carbon values
- Detailed review of asset characteristics including energy intensity
- Insight into competitive landscape, routes to market and possible cluster evolution
Westwood Approach
Westwood completed an assessment of the North Sea offshore energy market (oil, gas and offshore wind), leveraging our deep knowledge and experience of this region – especially our proprietary WindLogix global offshore wind market intelligence solution. Engagement with our network of associates and industry experts helped inform and define our view of potential cluster development.
We reviewed regional area activity, relevant business models, policy, and economic data to delineate key risks, commercial sensitives, and possible outcomes for enabling energy transition imperatives.
Project Outcome
Westwood’s analysis enabled the Client to quickly digest the status of the market, understand the nuances between the supply chain and assess the risks and market potential. Our report supported the Client in understanding how to engage with industry participants and to build a platform for growth with climate change at its core.
