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Renewable project development: 2024 research reveals critical success factors

In February 2024, we engaged with renewable energy companies across Europe to explore how decision-making during the development phase affects construction, operations, and maintenance. As the renewable energy sector expands and incidents and failures increase, this is becoming a vital focal area.

We aimed to identify the correlation between adverse events during the asset lifecycle and choices made earlier in development.

The study, conducted by ARMSA Academy with the support of Vattenfall’s UK onshore development team, interviewed 33 professionals in solar, wind, and battery storage. It’s findings may challenge your current development strategy.

Here’s the wake-up call: Despite two decades of industry growth, the success of renewable megaprojects is far from guaranteed. But why?

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When reality bites

Picture this: Your construction team is on-site, ready to break ground on your next utility-scale project. But there’s a problem – critical equipment and hazard information are ambiguous, revisions to the schedule are missing, and farm animals are unexpectedly grazing on site.

Your contractors can’t accurately assess pre-planned work methods or logistics. Costs start spiralling, and your carefully planned timeline begins to slip. According to our research, this scenario isn’t just hypothetical – it’s happening across the industry right now.

But that’s just the tip of the iceberg. The study revealed a startling disconnect between how developers perceive their decision-making quality and how it’s actually received by construction teams.

Think your early-stage planning is comprehensive? The data might suggest otherwise.

Turning weaknesses and threats…

Some eye-opening findings that should give every developer pause:

  • 75% of respondents reported unexpected failures and defects as a significant impact of poor early stage decision-making or access to information
  • O&M teams are struggling with insufficient access to critical equipment design and information on spare parts
  • Investment uncertainty is creating a ripple effect throughout project lifecycles

Perhaps most concerning is what the research uncovered about lifecycle risk management. Many developers aren’t just falling short in this area—they don’t fully understand or are not incentivised to adopt lifecycle management methods.

In an industry where project success can make or break investment returns, this knowledge gap is particularly alarming. A way forward is possible though.

..into strengths and opportunities

Our study highlights an important opportunity. Strengthening the connection between early-stage development decisions and their downstream impacts.

For instance, when construction teams receive comprehensive hazard information early, they can optimise methods, plan logistics effectively, and deliver safely and efficiently. This type of proactive information sharing creates a powerful ripple effect of positive outcomes.

Some findings that showcase the potential for improvement:

  • When armed with timely, accurate information, teams consistently report improved project quality, cost management and safety outcomes
  • Clear communication of design and scope changes leads to better quality of work and schedule adherence
  • O&M teams achieve reduced costs and downtime when equipped with comprehensive as-built information, up-to-date wiring diagrams and user-friendly but comprehensive O&M manuals.

The research also highlights the complexity of managing multiple stakeholders, a daily challenge many development teams face. By identifying these challenges, we can better equip our teams with the mindset, tools and processes they need to succeed.

Here’s what’s really exciting. The research uncovers clear pathways to enhance project outcomes through practical, implementable strategies. Want to know how leading organisations are empowering their teams to create more resilient, higher-value projects?

The full report details six key recommendations that could transform your project delivery approach.

Ready to take your renewable energy projects to the next level? Download the full FED Research Report to discover:

  • Practical frameworks for enhancing early-stage risk assessment
  • Innovative approaches to integrating operational strategy in early planning
  • Effective strategies for stakeholder communication and coordination
  • Steps for implementing holistic risk management practices that support development teams

In an industry driving global energy transformation, this research provides valuable tools to help organisations better support their development teams and enhance project outcomes.

After all, the future of renewable energy isn’t just about technology – it’s about people like us working together to make these projects succeed. Let’s see what we can learn from each other.

Download the complete report today to explore how your organisation can empower its teams with these crucial insights.

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