Bruce Stevenson Appointed to Work With Ofgem (UK)

Edinburgh-based insurance broker Bruce Stevenson Risk Management has been appointed to work with Ofgem as part of the UK government’s support for offshore wind generation.

BSRM has been selected, along with Grant Thornton, to advise on the tender process appointing Offshore Transmission Owners. The initial 15-month contract will focus on the insurance provisions for the bidders of the 3 Tranche A projects in Lincs (250MW £311m), Gwynt-y-Mor (576MW £306m) and London Array (630MW £476m).

BSRM claimed that the contract will further enhance their reputation and standing in the sector.

The three offshore projects will connect RWE’s 576MW Gwynt-y-Mor project located of the north coast of Wales; Centrica’s 250MW Lincs project sited of Skegness Lincolnshire and Eon, Dong and Masdars 630MW London Array in the Thames Estuary.

All three projects will feature 3.6MW wind turbines supplied by Siemens Energy.

Ofgem is expected to plan out a further tender process for the following three projects in Humber Gateway, West of Duddon Sands and Race Bank in 2012.

Completion of the tender round will help the government to meet renewable energy targets – sourcing 15% of all energy from renewable sources by 2020.To meet these targets it is estimated that £20bn in investment will be required in offshore electricity transmission infrastructure.

This will provide connections for offshore wind farms at all stages of development from planning to operation.

Derek Skinner, director of renewables at BSRM, commented: “Offshore wind is a massive new sector, and we are delighted to be supporting Ofgem in this latest chapter in the development of renewable electricity in the UK.

“This reinforces BSRM as one of the leading insurance and risk consultancies in renewables in the UK, and builds on our expertise and reputation in onshore wind and hydro, where we have a significant share of the market. “We look forward to working with Grant Thornton and Ofgem in supporting the development of the offshore renewable sector.”

By Mairi MacDonald (postonline)

[mappress]

Source: postonline, December 22, 2010