Overview
Greenrock commissioned BVG Associates to explore offshore wind’s role in decarbonising Bermuda’s energy. Bermuda offshore winds small project scale and distance from supply chains, made standard cost assumptions inadequate.
We applied our industry knowledge and stakeholder engagement experience to tailor cost models. We adjusted the benchmarks from large projects in mature markets to reflect the realities of projects in Bermuda. We also assessed different turbine configurations and site-specific wind data to refine projections.
Our work provided Greenrock with credible, locally relevant insights. This is used to support advocacy efforts on energy transition planning in Bermuda.
Key challenges
- Small project scale
- Geographic isolation
- High cost uncertainty
- Turbine size trade-offs
- Wind condition variability
Key impact
- Created a realistic LCOE model
- Identified that offshore wind is economically attractive
- Showed that larger turbines offer better value
- Supported Greenrock’s advocacy of Bermuda offshore wind
- Led to additional commissioned work from Greenrock.
BVGA team
Bruce Valpy
