We enabled the Port of Galway to understand and describe its business case for investing in offshore wind capability. Our work was used both internally and for presentation to other stakeholders.
The West of Ireland has a huge natural resource for offshore wind, with some of the highest wind speeds in Europe. The Port of Galway is located centrally on the west coast of Ireland and could be ideally located for operation, maintenance and service of the wind farms, in particular as the main hub for service operation vessels. The Port is in the planning stage for a large port extension. It needed support to analyse the business case for use of the new port by floating offshore wind.
We described the activities required at ports for floating offshore wind. This included an analysis of the contracting strategies usually deployed in procuring for the activities. We then estimated the future market available to the Port of Galway and produced a forecast of total potential work and revenue for the port. This involved forecasting the market volume that is within a reasonable distance of the port and estimating the likely revenue from this size of market.
‘The insight provided by BVGA was realistic and clear. Their analysis has been a key input into our plans to ensure the Port of Galway makes a significant contribution to achieving net zero carbon targets’
Conor O’Dowd, CEO, Port of Galway
Our work on this project was led by Kate Freeman.