Full Title: The Strategic Value of Community Benefits in Offshore Wind Development
Author(s): Energy Sector Management Assistance Program
Publisher(s): Energy Sector Management Assistance Program
Publication Date: November 25, 2024
Full Text: Download Resource
Description (excerpt):
The Strategic Value of Community Benefits in Offshore Wind Development report highlights the growing importance for offshore wind proponents to build strong relationships with host communities and secure a social license to operate. This social license, although intangible, is an important asset, rooted in community trust and acceptance of a company and its activities.
Launched at the Asia Pacific Wind Energy Summit hosted by the Global Wind Energy Council in Incheon, Republic of Korea, this paper is intended to facilitate discussion between developers, communities, public sector decision-makers, regulators, and businesses throughout all phases of offshore wind projects.
The paper provides valuable insights into designing effective community benefit programs, drawing from more than 30 case studies from 18 different energy markets worldwide.
These examples highlight the importance of tailoring community benefit programs to the specific needs of stakeholders, ensuring that affected communities experience a positive impact on their lives. They also emphasize the need to balance community benefits with what developers can realistically provide, while meeting the project’s commercial objectives and yielding a competitive cost of energy for rate payers.