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.
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.
Support to develop a tidal stream commercial model
Assessing value in developing UK offshore renewables
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.
