dc.contributor.author | Godfrey-Brown, T | |
dc.contributor.author | Lazakis, I | |
dc.contributor.author | Pillai, AC | |
dc.contributor.author | Morstyn, T | |
dc.contributor.author | Dou, S | |
dc.contributor.author | Chaton, C | |
dc.date.accessioned | 2024-08-23T09:51:21Z | |
dc.date.issued | 2024 | |
dc.date.updated | 2024-08-23T08:12:20Z | |
dc.description.abstract | In the UK, seabed leases and subsidies for renewable energy are allocated via tendering
processes concluding with competitive auctions. These are respectively termed Leasing
Rounds and Contracts for Difference (CfD) Allocation Rounds. The reduced uncertainty
in offtake price offered by a CfD improves the creditworthiness of a project, allowing
developers to pursue and access financing. The necessity in this uncertainty mitigation has
been compounded by an upwards trend in leasing costs, increasing investment requirements.
Data relating to seabed leasing in the UK is scarce, unstructured, and scattered across diffuse
sources. This paper presents analysis of records relating to seabed leases between 2000-2024,
summarising the status of the UK’s offshore wind pipeline. Insights are shared on project
non-delivery, with inhospitable site conditions (5.8 GW) revealed as a key driver. The paper
also explores the relationship between Seabed Leasing and CfD acquisition, sharing metrics
illustrating the significance of the CfD mechanism to financing, and consequently, project
delivery. | en_GB |
dc.description.sponsorship | Engineering and Physical Sciences Research Council (EPSRC) | en_GB |
dc.description.sponsorship | Natural Environment Research Council (NERC) | en_GB |
dc.identifier.citation | IAEE 45th International Conference Istanbul 2024 "Energy Sustainability, Security, Efficiency and Accessibility in a Time of Transition", Istanbul, Turkey, 25-28 June 2024. Awaiting full citation and DOI | en_GB |
dc.identifier.grantnumber | EP/S023933/1 | en_GB |
dc.identifier.uri | http://hdl.handle.net/10871/137244 | |
dc.identifier | ORCID: 0000-0001-9678-2390 (Pillai, Ajit C) | |
dc.language.iso | en | en_GB |
dc.publisher | International Association for Energy Economics (IAEE) | en_GB |
dc.relation.url | https://www.iaee.org/en/publications/proceedingsindex.aspx | |
dc.relation.url | https://www.iaee2024.org.tr/ | |
dc.rights.embargoreason | Under temporary indefinite embargo pending publication by the International Association for Energy Economics. 36 month embargo to be applied on publication | en_GB |
dc.subject | Offshore Wind | en_GB |
dc.subject | Natural Resource Management | en_GB |
dc.subject | Renewables Financing | en_GB |
dc.subject | Seabed Leasing | en_GB |
dc.subject | Contracts for Difference | en_GB |
dc.subject | Energy Auctions | en_GB |
dc.title | A review of offshore wind seabed allocation in the UK: 2000 - 2024 | en_GB |
dc.type | Conference paper | en_GB |
dc.date.available | 2024-08-23T09:51:21Z | |
exeter.location | Istanbul, Turkey | |
dc.description | This is the author accepted manuscript | en_GB |
dc.rights.uri | http://www.rioxx.net/licenses/all-rights-reserved | en_GB |
dcterms.dateSubmitted | 2024-05-20 | |
rioxxterms.version | AM | en_GB |
rioxxterms.type | Conference Paper/Proceeding/Abstract | en_GB |
refterms.dateFCD | 2024-08-23T08:12:21Z | |
refterms.versionFCD | AM | |
refterms.panel | B | en_GB |
pubs.name-of-conference | IAEE 45th INTERNATIONAL CONFERENCE ISTANBUL 2024 "Energy Sustainability, Security, Efficiency and Accessibility in a Time of Transition" | |
exeter.rights-retention-statement | Opt out | |