Aminu Bature
Birmingham City University School of Engineering, UK
Title: The implications of risk management on the delivery and investments of wind and other renewable energy project
Biography
Biography: Aminu Bature
Abstract
This study sets out to explore the implications of risks management on renewable energy project delivery, using wind energy projects as an area of interest. One of the major aims of project management is directed towards managing risks and thus an important concept in the field. Despite the progress in wind energy projects, they are subjected to numerous risks throughout their life-cycle. In this study, an exhaustive literature review was done on works of previous researchers complemented by an empirical quantitative survey using online questionnaires. This paper reports not only the critical analysis of the secondary data found in previous literatures, but also the primary data analysis obtained from the online survey. The study found that there is a need for improvement on how risks are communicated within wind project environment. The majority of those who responded to the survey indicated that risk associated factors such as; weather related (66%), economic (44%) and political risk (44%) present significantly impact to wind energy projects in their organizations. Other factors such as technical (26%), construction (36%) and environmental risk (28%) factors were viewed by the respondents as having moderate relevant to wind energy projects. A minority of the respondents (24%) indicated that operational risk associated factors also have minor association to wind farm projects. This finding supports the observation made by the Economist Intelligence Unit that; weather related risk is more significant for wind power projects than for other renewable energy technologies.