Feasibility of investment in Blue Growth multiple-use of space and multi-use platform projects; results of a novel assessment approach and case studies

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dc.contributor.author Dalton, Gordon
dc.contributor.author Bardócz, Tamás
dc.contributor.author Blanch, Mike
dc.contributor.author Campbell, David
dc.contributor.author Johnson, Kate
dc.contributor.author Lawrence, Gareth
dc.contributor.author Lilas, Theodore
dc.contributor.author Friis-Madsen, Erik
dc.contributor.author Neumann, Frank
dc.contributor.author Nikitas, Nikitakos
dc.contributor.author Ortega, Saul Torres
dc.contributor.author Pletsas, Dimitris
dc.contributor.author Simal, Pedro Diaz
dc.contributor.author Sørensen, Hans Christian
dc.contributor.author Stefanakou, Afroula
dc.contributor.author Masters, Ian
dc.date.accessioned 2019-11-19T10:16:49Z
dc.date.available 2019-11-19T10:16:49Z
dc.date.issued 2019-06
dc.identifier.citation Dalton, G., Bardócz, T., Blanch, M., Campbell, D., Johnson, K., Lawrence, G., Lilas, T., Friis-Madsen, E., Neumann, F., Nikitas, N. and Ortega, S.T., 2019. Feasibility of investment in Blue Growth multiple-use of space and multi-use platform projects; results of a novel assessment approach and case studies. Renewable and Sustainable Energy Reviews, 107, (21pp). DOI:10.1016/j.rser.2019.01.060 en
dc.identifier.volume 107 en
dc.identifier.startpage 338 en
dc.identifier.endpage 359 en
dc.identifier.issn 1364-0321
dc.identifier.uri http://hdl.handle.net/10468/9053
dc.identifier.doi 10.1016/j.rser.2019.01.060 en
dc.description.abstract Blue Growth is the creation of economic activity and jobs at sea, while multiple use of space makes efficient use of the available sea area by combining industries. Clearly there are many combinations and many value propositions. However, most technologies to date are considered blue sky concepts, with little robust techno-economic analysis demonstrating profitability. The paper begins by providing a comprehensive review of Blue Growth and multi-use in Blue Growth; both in policy as well as the wide range of current technologies, including ocean energy, offshore wind energy, offshore aquaculture and desalination. The Maribe H2020 project provides the vehicle for the research element of the paper. The major contribution is a new methodology for selecting, filtering, developing and ranking business propositions for multiple-use of space (MUS) and multi-use platforms (MUP). Application of the method for the first time identified three case studies where Blue Growth combination projects can be economically viable, with attractive internal rate of return (IRRs). Results presented for the case studies report standard investment metrics and show the relative contribution of each product (energy, food, water) to the system profitability, as well as socio-economic impact. Existing companies were fully engaged in the process. Co-creation between sector experts and industry led to both improved business value propositions and robust assessment of investment readiness. In contrast to the presumption that large scale platforms are commercially attractive, the highest ranking case study companies required smaller capital expenditure (CAPEX) and operated in niche subsectors. In conclusion, the positive economic performance of the case studies should provide confidence for the EC as well as investors that MUS and MUP have viable economic futures leading towards commercialisation. The macro and micro assessment methods will be particularly useful in other Blue Economy contexts and in other multiple product contexts. en
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.publisher Elsevier Ltd en
dc.relation.uri https://www.sciencedirect.com/science/article/pii/S1364032119300589
dc.rights © 2019 The Authors. Published by Elsevier Ltd. en
dc.rights.uri https://creativecommons.org/licenses/by/4.0/ en
dc.subject Blue Growth en
dc.subject Multiple-use of space en
dc.subject Multi-use platform en
dc.subject Techno-economics en
dc.subject Ocean energy en
dc.subject Aquaculture en
dc.title Feasibility of investment in Blue Growth multiple-use of space and multi-use platform projects; results of a novel assessment approach and case studies en
dc.type Article (peer-reviewed) en
dc.internal.authorcontactother Gordon Dalton, Department of Civil Engineering, University College Cork, Cork, Ireland. +353-21-490-3000 Email: g.dalton@ucc.ie en
dc.internal.availability Full text available en
dc.description.version Published Version en
dc.contributor.funder European Energy Research Alliance (EERA) en
dc.contributor.funder Horizon 2020 en
dc.contributor.funder SuperGen UK Centre for Marine Energy Research en
dc.description.status Peer reviewed en
dc.identifier.journaltitle Renewable and Sustainable Energy Reviews en
dc.internal.IRISemailaddress g.dalton@ucc.ie en
dc.relation.project info:eu-repo/grantAgreement/SFI/SFI Research Centres/12/RC/2302/IE/Marine Renewable Energy Ireland (MaREI) - The SFI Centre for Marine Renewable Energy Research/ en

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© 2019 The Authors. Published by Elsevier Ltd. Except where otherwise noted, this item's license is described as © 2019 The Authors. Published by Elsevier Ltd.
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