• Energy Research

Offshore wind installation targets of EU Member States were considered. The analysis of the national plans showed that EU target can be exceeded, provided the appropriate resources are committed: offshore space, capital and supply chain. Spatial plans were analyzed and the need for the number of installed turbines was determined. The capital needs to cover the costs of investment outlays were analyzed. A projection for the number of wind turbines installed in Europe up to 2030 was presented. The analysis identified how the resources committed to the targets will contribute to: the generation of electricity, the reduction in greenhouse gas emissions and contribution to improving Europe’s energy independence.

Offshore wind installation targets of EU Member States were considered. The analysis of the national plans showed that EU target can be exceeded, provided the appropriate resources are committed: offshore space, capital and supply chain. Spatial plans were analyzed and the need for the number of installed turbines was determined. The capital needs to cover the costs of investment outlays were analyzed. A projection for the number of wind turbines installed in Europe up to 2030 was presented. The analysis identified how the resources committed to the targets will contribute to: the generation of electricity, the reduction in greenhouse gas emissions and contribution to improving Europe’s energy independence.

The recently adopted maritime spatial plan for Polish sea waters promotes offshore wind farm (OWF) development. The study’s identification of the local municipalities affected by offshore development was based on the plan’s provisions. Through the analysis of the plan and literature findings, both positive and negative impacts of future OWF development were identified and examined. Such an analysis seems to be a precondition for the more active engagement of local stakeholders in the debate on the ways in which to best utilize the new opportunities created by the plan and cope with the threats resulting from maritime spatial planning (MSP). The key impacts recognized by the local business stakeholders have been related to landscape pollution and fishing limitations. Stakeholders less frequently have noticed positive impacts of MSP such as development of a new form of tourism. Up to this point, small municipalities have not undertaken sufficient action, and there is a lack of communication between developers, marine planners and coastal communities. Planners have not assessed the impact of their plan on local economic development. The proposed remedies cover standard actions related to communication, education and dialogue, but in addition to that, a consolidated action of local municipalities on how to capitalize on OWF development has been proposed. The first step proposed is preparation of a joint strategy by coastal municipalities addressing this issue.

The recently adopted maritime spatial plan for Polish sea waters promotes offshore wind farm (OWF) development. The study’s identification of the local municipalities affected by offshore development was based on the plan’s provisions. Through the analysis of the plan and literature findings, both positive and negative impacts of future OWF development were identified and examined. Such an analysis seems to be a precondition for the more active engagement of local stakeholders in the debate on the ways in which to best utilize the new opportunities created by the plan and cope with the threats resulting from maritime spatial planning (MSP). The key impacts recognized by the local business stakeholders have been related to landscape pollution and fishing limitations. Stakeholders less frequently have noticed positive impacts of MSP such as development of a new form of tourism. Up to this point, small municipalities have not undertaken sufficient action, and there is a lack of communication between developers, marine planners and coastal communities. Planners have not assessed the impact of their plan on local economic development. The proposed remedies cover standard actions related to communication, education and dialogue, but in addition to that, a consolidated action of local municipalities on how to capitalize on OWF development has been proposed. The first step proposed is preparation of a joint strategy by coastal municipalities addressing this issue.

Fighting greenhouse gas emission requires actions to reduce energy usage and increase the proportion of renewable energy sources in the total energy production. Managing this energy transformation process requires significant financial outlays, so financial performance is crucial; it enables energy producers to make future energy transformation decisions. The study discussed in this paper evaluated the financial performance of renewable energy producers in comparison to conventional energy producers in the Baltic Sea Region. The research also aimed to determine how the financial performance is influenced by firm-specific and country-specific factors. We analyzed a unique panel dataset of 328 energy producers, most of which were private limited companies, in the period ranging from 2011 to 2019. Using random effects and fixed effects models, we found that private limited companies had a better financial performance than public limited companies. The size of the company’s assets had an ambiguous effect on its financial performance. Moreover, the difference in the performance of various type of energy producers was small. However, since the Paris Agreement, the impact of electricity prices on both ROA and ROE of the producers has been increasing.

Fighting greenhouse gas emission requires actions to reduce energy usage and increase the proportion of renewable energy sources in the total energy production. Managing this energy transformation process requires significant financial outlays, so financial performance is crucial; it enables energy producers to make future energy transformation decisions. The study discussed in this paper evaluated the financial performance of renewable energy producers in comparison to conventional energy producers in the Baltic Sea Region. The research also aimed to determine how the financial performance is influenced by firm-specific and country-specific factors. We analyzed a unique panel dataset of 328 energy producers, most of which were private limited companies, in the period ranging from 2011 to 2019. Using random effects and fixed effects models, we found that private limited companies had a better financial performance than public limited companies. The size of the company’s assets had an ambiguous effect on its financial performance. Moreover, the difference in the performance of various type of energy producers was small. However, since the Paris Agreement, the impact of electricity prices on both ROA and ROE of the producers has been increasing.