There have been dramatic shifts globally in the renewables sector, with rapidly falling technology costs in some more mature technologies and the emergence out of the R&D phase for nascent technologies.
The incentive structures for renewables are shifting, with auctions leading to greater cost discovery and delivering more value for end consumers. The reduction in subsidy is leading to efficiency improvements in the supply chain, and developers are having to adapt their business models. With grid-parity becoming a reality in some markets, the sector is attracting new forms of capital and in many cases large end-users seeking to acquire or develop plant.
Whilst these are exciting changes, the stability of the policy and regulatory environment, planning consents, the cost and availability of grid connections, and the route-to-market for power, all remain as significant challenges for developers.
We are helping our clients take advantage of shifts in the marketplace through investment and transaction advisory, developing new business models and commercial strategies, and helping clients understand and navigate the industry change.
We also advise governments and regulators on their renewables policy to help stimulate investment whilst balancing the costs to consumers.