Overview
Business strategy support for a floating construction platform
Setec is a multidisciplinary engineering firm developing a floating construction platform to assist floating offshore wind (FOW) construction and assembly activities. It wanted to find the right business model to commercialise its product.
We worked with Setec to support and develop the optimum strategy to bring it to market.
We were able to use our ability to grasp technical concepts and understanding of FOW to help Setec.
We conducted an analysis of the UK FOW market. We provided our views on the ports, lease and auction rounds, and project pipelines. For ports, we detailed existing and under-development port infrastructure for FOW. Insight into past and upcoming sea bed leases and auction rounds was also provided. Our in-house forecast models highlighted the relevant global project pipeline. We also delivered forecast of the demand for wet storage and quayside space from the UK FOW sector to 2040.
We assessed commercialisation routes and ownership models for Setec’s innovative product. Following the identification of best approach, we delivered a comprehensive business plan. This included the value proposition, contractual aspects, target customers, risk and mitigation, and a competitor analysis. The business plan also included an implementation strategy. This highlighted our priority recommendations and a timeline to meet the demand of the first wave of commercial-scale FOW projects in the UK.
Key challenges
- Demonstrating the credibility of FOW market potential
- Quantifying the serviceable obtainable market
- Uncertainty about future project volumes
- Identifying and evaluating critical constraints
Key impact
- Our business strategy support for a floating construction platform were used by our client to make strategic decisions about the commercialisation of its product.
- Our recommendations throughout the project were informed through an engagement campaign with FOW project developers, ports, major components suppliers, EPCIs and insurers
- Delivered a comprehensive demand analysis for floating construction platform
- Phased commercialisation plan
BVGA team
Victor Baudrenghien
Patrick Browne
Eleanor Young
Neil Douglas
