Our take on this is that it is a bit early to talk of a transition to a low carbon dominated world. The excitement around renewables is great but could it be similar to the excitement around dotcom start ups back in the early noughties. The rush to the renewables market has already produced some big losers and will probably produce some more too, but there will also undoubtedly be big winners too aka Google or Facebook for the dotcoms. Maybe Dong from Denmark?
For me there are still obvious technical and commercial issues for the renewables industry to combat not least of which is that the wind doesn’t always blow and the sun doesn’t always shine!
We agree with Mr Sverdrup from Statoil – there is definitely lots of synergies from our experience in offshore oil and gas developments that can be applied to renewables in offshore wind and in the less well developed wave and tidal power generation technologies.
We are actively investigating where we can add value with practical studies and are looking to team up with or to help developers in wind, wave and tidal bring projects into successful execution and long term operation.
Alongside our push into the renewables market, I have just bought a brand new plug in hybrid car (not a Prius!) so with my ‘newish’ green credentials I can lean on any bar and argue all sides of this debate.