The New Energy State: Offshore Governance Regimes for Renewables as Natural Resources

Anupama Sen*, Tooraj Jamasb

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

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Abstract

Maturing renewable energy technologies are birthing new industry configurations, with offshore wind—with the EU holding 80 percent of global capacity—and “energy islands,” as notable examples. However, a clear conceptualization of the role of the state and governance framework is lacking, alongside growing pressure for the state to define the path forward. This paper analyzes recent developments in emerging EU offshore renewable energy regimes, drawing three implications that show the need for new governance frameworks. First, there is a reconfiguration of energy industry structures around changing economics and policies, in a repeat of historical experience. Second, energy islands increasingly represent features of a natural resource in fixed supply, with the economic nature of offshore energy gradually transiting from the sub-domain of renewable energy economics towards natural resource economics. Third, to realize their economic value, governance frameworks are needed to enable these resources to harmonize with other resources in fixed supply, such as the land on which they are sited, which is constitutionally under the stewardship of the state. We set out criteria for governance of these emerging offshore renewables, to underpin the changing industry landscape and new role of the state within it.
Original languageEnglish
JournalThe Energy Journal
Volume45
Issue number6
Pages (from-to)61-77
Number of pages17
ISSN0195-6574
DOIs
Publication statusPublished - Nov 2024

Bibliographical note

Published online: 15 October 2024.

Keywords

  • Offshore energy
  • Governance
  • Fiscal regime
  • Natural resources
  • Power

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