The concept of risk management in the renewable sector.

This study explores the perception of risk and the level of risk management implementation in the renewable sector. Risk management is emerging as a key issue due to the loss of confidence amongst banks, causing the attainment of financing to be difficult over the next few years. To attract financing, there is a fundamental requirement to manage risk in a way that minimizes the probability of a negative financial impact on the project. Miller and Lessard (2001) argue that successful projects are not selected but shaped with risk resolution in mind. Rather than evaluating projects at the outset based on projections of the full set of benefits, costs and risks over their lifetime, successful developers start with project ideas that have the potential of becoming viable. Therefore, this study bridges the gap that exists within the renewable sector in relation to risk management literature. This study succeeds through a detailed comparative case study analysis where two developers and two financiers were questioned through qualitative semi-structured interviews on the concept of risk management and its level implementation within the industry. It is believed that the growth in financed renewable energy projects depends on the adequate design and implementation of risk management to mitigate inherent project risks. However, this study revealed that are certain types of developers in existence within the renewable sector, which underestimate the magnitude of risk and view the development of projects as a ‘money racket’. Therefore, it can be concluded that perception of risk will also differ, causing risk and uncertainty to vary from project to project, resulting in investment reluctance to be associated with certain projects. The study originality lies in how it demonstrates to developers the concept of risk management, outlining the simplicity and benefits of implementing it in project development. Finally, this study contributes to the knowledge by enhancing the awareness and understanding of the presence and nature of risk in a RE project environment.

To determine if the ‘NIMBY’ phenomenon explains the slow progress of wind farm development or do institutional factors need to be taken in to consideration?

The threats posed by climate change are placing governments under increasing pressure to meet electricity demand from low carbon sources. Wind energy has been has been identified as one of the main technologies to help in meeting these demands. The public in general favour wind energy yet proposed targets for generation capacity lag behind proposed goals. The N IM B Y phenomenon has been suggested as one of the reasons why we are behind our wind generation capacity targets. It is a common mistake to take general support for granted and expect the public to support developments when confronted with them in their local area. In many cases it is not unheard of that governing bodies whether social, political, regulatory, environmental, or cultural can overrule general public support and halt developments. Motives to halt developments will vary depending on the institutional body involved. The problem with the term N IM B Y is that it is too basic a term to describe the broad spectrum of complex motives that various institutions including the public may have against a development. This research focuses on a case study where the developer had major problems with the local county council and its wind energy policies when he was erecting a wind turbine despite having gained planning permission. A survey questionnaire was also used as part o f the research to seek the perception a rural community had on wind energy. The research findings and results are discussed with respect to the literature review highlighting a general public support for wind energy and the influence institutional bodies have over the progress of developments.

Effects of selected post harvest processes on brown crab (Cancerpagurus L.) and European lobster (Homarus gammarus L.) from Irish Crustacean Fisheries

The crustacean fishery is important to the socio economics of rural and island communities around Ireland; with brown crab (Cancer pagurus) and European lobster (.Homarus gammarus) being the most valuable shellfish species. Brown crab and lobster are marketed live with the majority being exported from Ireland to southern Europe. Post capture processes used in Ireland are very subjective but promote fresh, live products. Common practices used in the crustacean fishery include nicking of brown crab and long term storage of lobster. This study showed that nicking resulted in elevated mean lactate levels of 17.90% (StDev ± 1.74) and elevated mean glucose levels of 120.55 % (StDev ± 0.26) with mean circulating bacteria levels 9 times greater in nicked crab. Nicking resulted in 96.3% increase in tissue necrosis and a subsequent reduction in product quality. These factors possibly compromise the host’s defense system, which may ultimately reduce the animal’s ability to cope with additional stressors caused by post-harvest processes. Long term storage allows lobster to be stored until the market is less saturated and prices are higher. This investigation found that some lobsters contracted bacterial biofilms as a result of long term storage. Bacteria isolated from biofilms were identified as Arcobacter and Campylobacterales with identity and alignment scores of 80% andd 88% respectively.