A cluster analysis of investment strategies in the offshore wind energy market

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dc.contributor.author Ioannou, Anastasia
dc.contributor.author Vaienti, Claudio
dc.contributor.author Angus, Andrew
dc.contributor.author Brennan, Feargal P.
dc.date.accessioned 2017-11-09T16:18:03Z
dc.date.available 2017-11-09T16:18:03Z
dc.date.issued 2017-08-18
dc.identifier.citation A. Ioannou, C. Vaienti, A. Angus, and F. Brennan. A cluster analysis of investment strategies in the offshore wind energy market. 2017 6th International Conference on Clean Electrical Power (ICCEP), 27-29 June 2017, Santa Margherita Ligure, Italy. en_UK
dc.identifier.isbn 9781509046829
dc.identifier.issn 2474-9664
dc.identifier.uri http://dx.doi.org/10.1109/ICCEP.2017.8004841
dc.identifier.uri http://dspace.lib.cranfield.ac.uk/handle/1826/12710
dc.description.abstract This paper maps different investor strategies in the offshore wind energy market based on data from existing wind farms in the UK. This is realized through the employment of cluster analysis, which classifies offshore wind energy investors - who have purchased equity stakes-in terms of the entry timing, exit timing, purchase timing and stake purchased. We, then, perform a SWOT analysis to identify the major strengths, weaknesses, opportunities and threats encountered by each cluster of stakeholders. Cluster analysis revealed the existence of three distinct investment strategy profiles: i) Late entry investors, ii) Pre-commissioning investors, and iii) Own-build-transfer investors. Corporate and institutional investors tend to be late entry investors, whose strategy is based on buying assets while they are fully operational avoiding construction risks, retaining a risk aversion profile. The exit timing of OEMs and EPCI contractors usually takes place before or right after the commissioning of the wind farm. Finally, major Utilities tend to keep the operating assets on their balance sheet and divest only part of them (mostly minority stakes) during the operating stage; Independent energy companies are found in both 2nd and 3rd cluster; however, exceptions may be observed. en_UK
dc.language.iso en en_UK
dc.publisher Institute of Electrical and Electronics Engineers en_UK
dc.rights Attribution-NonCommercial 4.0 International
dc.rights.uri http://creativecommons.org/licenses/by-nc/4.0/
dc.subject equity capital investors en_UK
dc.subject offshore wind en_UK
dc.subject cluster analysis en_UK
dc.subject entry and exit timings en_UK
dc.subject investment strategies en_UK
dc.subject SWOT en_UK
dc.title A cluster analysis of investment strategies in the offshore wind energy market en_UK
dc.type Conference paper en_UK

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