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2020

En-Route to market in 2020?

Lucy Dolton Analyst

On 14 January, the latest update of the Renewable Energy Planning Database (REPD) was published, giving an overview of current and planned renewable energy projects across Great Britain and Northern Ireland. The update has revealed the total capacity of renewable energy and storage projects across England, Scotland and Wales classed as ‘awaiting construction’ or ‘under construction’ currently stands at 29.9GW. The majority of this is classed as ‘awaiting construction’, making up 24.7GW of the total pipeline capacity. Underlying political uncertainty at the latter end of 2019, on top of a lack of available support schemes, reduced investor confidence and impacted the number of new renewables projects commencing construction activities. The principle question for us looking at the year ahead is what route-to-market these pipeline projects will opt for. Under the assumption that the majority of offshore wind projects will be looking to secure a deal through the Contracts for Difference scheme or be developed as extensions to existing sites, just over 15GW of projects will still need to seek an alternative route-to-market. Our research into subsidy-free developments reveals only a handful of renewables projects have publicly confirmed route-to-market plans. Presently Utility power purchase agreements (PPAs) remain the leading option, but this option may not continue to dominate in 2020. 3.3GW of standalone battery storage is classed as ‘awaiting construction’ or ‘under construction’ in Great Britain. While many of these will be optimised by in-house trading teams, others will be looking for a competitive ...

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