These include assessing the impacts of energy curtailment, policy changes, and infrastructure development and quantifying the financial ramifications that they have for a specific wind farm site or wind energy project.
The new services support investors and developers of renewable energy projects in North America at all stages of the wind tubines project lifecycle. The power market analysis services complement GL Garrad Hassan’s existing independent engineering portfolio which has helped to deliver 45% of all US and 39% of all Canadian wind farms.
As wind power has matured and the volume of projects connected to the grid has risen, there are an increasing number of geographical areas where projects experience curtailment issues. Accounting for the risk related to reduced opportunity for energy delivery, and the corresponding revenue loss, is now an essential factor in determining the value of a proposed site for wind farm project development and, forms a key element of any technical due diligence process associated with a wind turbines project.
Once a wind energy project is developed, the opportunity for its extension, as well as its long-term financial viability, can be impacted by factors such as future grid limitations, decisions affecting the design of future energy markets, and changing government policy in relation to renewable energy as part of the broader energy mix.
Experts from GL Garrad Hassan combine their understanding of local markets and policy frameworks, with financial know-how to undertake analytical and simulation activities. The results are delivered to clients in report format and help them to understand the likelihood and extent of each risk, as well as the actual impact it would have on project revenue in both the short and long-term.