Overview
Gavin and Doherty Geosolutions (GDG) engaged BVG Associates to provide market and project-specific analysis for one of its clients. The client, an offshore wind project owner, needed to determine its bidding strategy in Ireland’s first Offshore Renewable Electricity Support Scheme (ORESS-1) auction.
We delivered a global market analysis, drawing lessons from mature offshore wind markets. This informed strategic understanding of cost dynamics, local content obligations, and auction behaviours. We then developed detailed levelised cost of energy (LCOE) models for the client’s project and competing ORESS-1 sites. These models factored in a range of technical and strategic variables. Collaborating with client’s project team, we ranked competitors, carried out sensitivity testing, and identified risk mitigations. This resulted in a more robust and informed auction bid strategy for Ireland first offshore wind auction.
Key challenges
- Lack of domestic precedent
- Complex cost modelling required
- Data uncertainty
- Multi-variable evaluation required
- Tight collaboration needed
Key impact
- Delivered a ranked merit order of all likely ORESS-1 participants
- Developed robust LCOE models
- Informed client’s risk strategy for Ireland first offshore wind auction
- Enabled confident, evidence-based decision making
BVGA team
Alun Roberts
