Delivering the UK’s ambitious offshore wind and marine renewables targets will require unprecedented levels of investment. We're at the centre of this complex, multi-dimensional, multi-stakeholder sector.

The UK must rapidly expand offshore wind and other marine renewables capacity to meet its 2030 goals and long-term net-zero targets, and accelerate the energy transition.

Challenges include grid constraints, tight supply chains and global competition for capital. But there are also significant opportunities for the UK to leverage its global leadership role in offshore wind and to attract investment. 

We work at the heart of these projects alongside our clients, no matter how complex.

Deep sector expertise

Providing the necessary financial and commercial expertise in offshore projects, from corporate finance, to policy and regulation to economics and subsidy control.

Reliable, professional delivery

As your partner, we bring credibility, flexibility and creativity – and a proven track record on delivery.

Collaborative engagement

Supporting you through the complex stakeholder landscape in offshore energy project delivery to achieve collaborative, sustainable outcomes.

Alasdair Grainger
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Alasdair Grainger
Managing Director
Contact Alasdair Grainger Learn more about Alasdair Grainger
Alasdair Grainger
Contact Alasdair Grainger Learn more about Alasdair Grainger
Alasdair Grainger
Managing Director
Alasdair Grainger
+44 (0)73 8593 6254

Why Grant Thornton

Delivering offshore infrastructure projects is extremely complex and involves multiple stakeholders. We’ve worked with Ofgem, The Crown Estate, the Department for Energy Security and Net Zero, and major project developers. 

We partner with technical engineering firms, legal advisers and specialists to provide a holistic, one-stop service, bringing the knowledge and expertise you need across:

  • project financing
  • strategy formation
  • business case development
  • procurement/bid support
  • financial modelling
  • due diligence.
"We were extremely impressed with Grant Thornton's advisory services. They demonstrated deep understanding of our needs. Their approach was strategic and tactical, offering insightful recommendations that had a meaningful impact. What sets them apart is their adaptability: responding quickly and clearly when requirements changed and providing regular updates to ensure we were always aligned.”
Nicola Clay, Head of New Ventures, Marine

Advising TCE on Floating Offshore Wind Leasing Round 5

The challenge
The Crown Estate (TCE) engaged us to help design a seabed leasing programme and tender process to create a market for deploying floating offshore wind at commercial scale.
The solution
We provided commercial advice, developed a proportionate financial and social value tender design, and fundamentally redesigned the auction approach for offshore leasing rights.
The results
After facilitating TCE senior leaders to review and scenario test the market and tender design, the programme was successfully delivered with specialist staff seconded in support.

Support to develop a tidal stream commercial model

The challenge
A public sector body needed to develop a delivery model of tidal stream renewable energy projects, including charging models and procurement processes to bring projects to market.
The solution
Our model ensured developers a commercially acceptable return while ensuring projects were sufficiently mature, and with the right level of industry and supply chain involvement.
The results
The client understood the nuances of tidal projects and was able to consider the model’s application to other offshore infrastructure sectors, such as carbon capture and storage.

Assessing value in developing UK offshore renewables

The challenge
The Department for Energy Security & Net Zero (DESNZ) required consultant support to assess the economic and commercial value of holistic development of UK’s offshore renewables potential and international North Seas cooperation under three distinct scenarios.
The solution
Working alongsidean energy sector modelling specialists we mapped energy production and transmission, and impacts on the UK, under each policy and development scenario, with insight from 15+ stakeholder interviews incorporated into the forecasts and assumptions.
The results
We provided a range of economic and commercial indicators for DESNZ based on the scenarios and forecasts, including calculation of jobs created and gross value added for each extra gigawatt of renewable energy under the projected deployment configurations.

Areas of focus:

We're actively working with clients helping develop and deliver offshore wind projects, including in the fledgling floating offshore wind sector. The business models here have evolved significantly since the Contracts for Difference (CfD) scheme was launched, which members of our team helped to develop a decade ago. Despite being the cornerstone of UK decarbonisation, financing and delivery of offshore wind projects remains complex and lengthy.

We can help you develop projects and policy that capitalises on the UK’s offshore wind leader role.

Offshore energy can't be delivered without the necessary transmission infrastructure to deliver that energy to shore. From cross-border interconnectors to the Offshore Transmission Owner (OFTO) regime, we actively support policy and project delivery regarding high-voltage subsea cable projects.

These projects have specific risk profiles and regulatory treatments, and we have specific expertise in these areas to ensure your organisation’s success.

Tidal energy has been touted as a predictable energy source which, if harnessed, could produce approximately 11% of the UK’s electricity by the end of the next decade. The awarding of Contracts for Difference to tidal stream projects in later allocation rounds shows optimism among developers that tidal technologies can be deployed in areas of high electricity demand.

Successful proof-of-concept installations, reduction of technology costs, and a credible assessment of commercial viability are essential to the growth of this sector.

We can help you articulate your tidal energy strategy and design markets that promote growth in this exciting sector.

    

Get in touch

Alasdair Grainger
Alasdair Grainger
Managing Director
London
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Owen Tong
Owen Tong
Principal Consultant
London
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Saloni Kapoor
Saloni Kapoor
Associate Director
London
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Jennifer Brown
Jennifer Brown
Associate Director, Public Services...
Manchester
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