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Renewables
IPA Energy + Water Economics provides advice to renewable energy developers,
operators, government authorities and regulators based on its extensive
knowledge of energy markets, trading and regulation.
IPA
has experience in wind power, hydro power (large and small scale), wave
and tidal power, biomass, geothermal energy and landfill gas.
Feasibility
Studies and Due Diligence
IPA can assist with site selection and resource monitoring, obtaining
planning permission, and liaison with statutory consultees. We have particular
strengths in financial analysis, due diligence and the preparation of
bankable documents for financing.
Price
Forecasts and Modelling
IPA provides expert assessment of the risks and opportunities associated
with volatility and uncertainty in power. This covers ROC price forecasts
and carbon price forecasts, as well as the impact of weather-related risks
such as wind speeds, based our state-of-the-art modelling expertise and
proprietary integrated energy model, ECLIPSE.
Power
and ROC Sales and Carbon Trading
We have extensive expertise in evaluating the costs and benefits of various
contractual options for the sale of power and Renewable Obligation Certificates
(ROCs) with experience from both the project developer and supplier points
of view. Our modelling expertise can be used together with this experience
to establish the optimal strike price for contracts.
Connection
and Transmission
IPA can advise project developers on the feasibility of electrical connections
and transmission access, where applicable. We also advise network operators
and governments on macro-level issues to do with integrating renewable
energy into networks.
Policy
and Regulation
IPA has extensive experience in the development of policy and regulatory
instruments to encourage investment in renewable energy, in the UK and
internationally. We also advise renewable energy operators on their regulatory
obligations and establishing reliable compliance procedures.
Renewable
Energy Financing
IPA has developed specialisms in the design and implementation of funds
(for example to support renewable energy development and rural electrification)
and risk mitigation products.
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Current
and Recent Experience in Renewables
Scotland
- Onshore Wind
IPA is currently providing wind development services across the portfolio
of one of Scotland’s largest landowners. This includes assessments
of technical, planning and electrical connection feasibility, liaison
with statutory consultees and resource monitoring.
Scotland
- Offshore Wind
Since mid-2001, IPA has been advising a UK oil company on the opportunities
for a large-scale offshore wind farm adjacent to one of their oil fields.
The client recently announced that it will be constructing a £24
million demonstrator site 25 km offshore in the Moray Firth.
Shetland
- Hydrogen Energy Study Centre – Feasibility Study
IPA was commissioned by the Shetland Renewable Energy Forum to quantify
the demand for, and financial viability of, a Hydrogen Energy Study Centre
to support the development of the emerging hydrogen energy sector and
to enhance Shetland’s ‘green island’ status.
Mauritius
– Development of Bagasse/Coal Cogeneration Plant
IPA provided technical inputs and advice on commercial and technical risks
along with advice on identifying and agreeing terms with a strategic partner
and O&M operator for the development of the proposed plant. IPA also
advised on the potential revenue stream that could be obtained from the
sale of Certified Emission Reductions under the Clean Development Mechanism,
and the process of obtaining accreditation.
Scotland
Biomass Waste to Energy Plant
Provided support for the economic assessment of a waste to energy plant
for a major utility in the UK. The work investigated the economics of
firing the plant with sewage sludge, future pressures on the price of
tradable biomass fuels, other biomass fuel sources (paper, wood, food,
agriculture, industrial, construction etc), disposal routes, and the future
pressure on the price of landfill and likely development of alternative
incineration capacity in Scotland.
UK
– Assessment of a Proposal for an Amendment to the Renewables Obligation
Definition of Energy Crops
IPA in consortium with Scottish Agricultural College (SAC) carried out
a study to determine the effects of a proposed change to the definition
of Energy Crops under the UK Renewables Obligation.
UK
- Consultancy Support on Co-firing
In collaboration with Mitsui Babcock, IPA was asked by the Department
of Trade and Industry (DTI) to assess the economic viability of co-firing
and the interaction with other sources of support such as the Climate
Change Levy and Emissions Trading as well as the effect of other environmental
legislation such as the LCPD and IPPC.
Scotland
- Pulp Paper Mill
IPA advised Scottish Enterprise on the different factors influencing the
value of exported electricity from an on-site hybrid-renewable CHP at
a proposed pulp paper mill in Scotland.
Lebanon
– Landfill Gas
IPA provided technical assistance to a private client on their Landfill
Gas Management Network.
Scotland
– Run-of-river Hydro Station Feasibility Study
IPA, in consortium with SKM, is carrying out a feasibility study of a
1-2MW run-of-river hydro scheme in the Scottish highlands, for a private
client.
Scotland
- Large Hydro
IPA advised a landowner on the economic value of a large proposed hydropower
scheme, forecasting the value of electricity and renewable certificates
over the life of the project.
UK
– Value of Power and ROCs for Marine Energy Developer
IPA was commissioned by a marine energy technology developer to produce
a series of forecasts relating to the production of energy from renewable
sources. These forecasts covered assessment of the costs of the major
forms of competing renewable energy technologies; prediction of the value
of Renewable Obligation Certificates over the study period; and investigation
of a central case forecast scenario for UK power prices over the same
period.
UK
– Geothermal Heat Pumps Feasibility Study
IPA provided advice to a private client on the market potential of geothermal
(ground-source) heat pumps in the UK and the feasibility of a geothermal
business model.
UK
– Advice on Impact of Emissions Trading
IPA was commissioned by a UK pulp and paper company to carry out a 20-year
wholesale gas and electricity price forecast for the United Kingdom inclusive
of the expected impacts of the implementation of the EU Emissions Trading
Scheme on wholesale electricity prices.
Scotland
– Advice on Impact of Changes to Trading Arrangements
IPA provided expert advice to Scottish Renewables Forum members regarding
changes in the regulation and structure of the Scottish Electricity Market.
The volume and complexity of regulatory consultations can be an onerous
burden to smaller renewable energy developers. This project was intended
to reduce this burden by supplying SRF members with summaries of these
consultations and the SRF’s view on them.
UK
– Review of Impact of Transmission Charging on Renewable Generation
IPA analysed the likely level of transmission charges in Scotland under
the expected transmission charging methodology for the BETTA electricity
trading arrangements, for the Scottish Executive. The study also investigated
the likely impact of the proposed charges on the economics of renewable
energy generation in Scotland.
Scotland
– Connections
IPA provided electrical connection and transmission access assistance
to a major electricity company in its development of renewable power projects
in Scotland.
Scotland
– Marine Energy Financing Study
IPA carried out a study for the Scottish Executive to determine the costs
and benefits of various options to support the development of an internationally
competitive marine (wave and tidal) energy industry in Scotland.
UK
– Review of Impact of Transmission Charging on Renewable Generation
IPA analysed the likely level of transmission charges in Scotland under
the expected transmission charging methodology for the BETTA electricity
trading arrangements, for the Scottish Executive. The study also investigated
the likely impact of the proposed charges on the economics of renewable
energy generation in Scotland.
Scotland
- Community Benefits
IPA provided advice to two local authorities on the economics of renewable
energy developments, in the context of assessing the potential for community
benefits.
Scotland
– Cost-Benefit Analysis of Renewable Energy Options
IPA assessed the cost and benefits of various renewable energy options
for Scotland for the Scottish Environment and Energy Forum (SEEF). The
aim was to understand the costs and benefits if equivalent investment
sums to those proposed for the Scottish West Coast offshore grid were
invested in other technologies.
UK
– Strategic Review of Community Energy Programme
IPA carried out a Strategic Review of the UK Government’s £50
million Community Energy Programme (CEP) for the Energy Saving Trust and
Carbon Trust. The CEP provides grants to support district heating investments
(mainly CHP). The results were presented to an EST Stakeholder Workshop
and used as the basis for a bid for extension of funding for the programme.
UK
– Renewable Energy Fund
IPA is currently working with a UK investment bank on a novel financing
initiative for the development of renewable generation in the UK.
East
Africa – Geothermal Financing and Risk Mitigation Mechanisms
IPA is currently leading a project for KfW to facilitate increased geothermal
energy investment in the countries along the African Rift by removing
exploratory and financial investment risks.
UK
– Marine Energy Financing Study
IPA carried out a study for the Scottish Executive to determine the costs
and benefits of various options to support the development of an internationally
competitive marine (wave and tidal) energy industry in Scotland.
Lesotho
– Rural Electrification Fund
IPA is the lead contractor for the privatisation of Lesotho Electricity
Corporation. As part of this process, the work involved the establishment
of an independent regulator and a Rural Electrification Fund, from first
principles through to implementation. Support for renewable energy is
a key principle underlying the operation of the Fund.
Mozambique
– Rural Electrification Fund
IPA assisted the National Directorate of Energy of Mozambique with the
establishment of a ring-fenced, transparent funding mechanism for promoting
rural electrification in Mozambique, part of a wider process of development
of secondary legislation to implement a series of market reforms.
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