Feasibility of investment in Blue Growth multiple-use of space and multi-use platform projects; results of a novel assessment approach and case studies

Highlights• A comprehensive history of multiple use of space blue growth.• New metrics for comparing salmon to megawatts are presented.• Method and criteria for ranking potential investments in blue growth business models.• Profitable case studies described involving electricity, water, mussels and fish.Blue Growth is the creation of economic activity and jobs at sea, while multiple use of space makes efficient use of the available sea area by combining industries. Clearly there are many combinations and many value propositions. However, most technologies to date are considered blue sky concepts, with little robust techno-economic analysis demonstrating profitability.AbstractThe paper begins by providing a comprehensive review of Blue Growth and multi-use in Blue Growth; both in policy as well as the wide range of current technologies, including ocean energy, offshore wind energy, offshore aquaculture and desalination.The Maribe H2020 project provides the vehicle for the research element of the paper. The major contribution is a new methodology for selecting, filtering, developing and ranking business propositions for multiple-use of space (MUS) and multi-use platforms (MUP). Application of the method for the first time identified three case studies where Blue Growth combination projects can be economically viable, with attractive internal rate of return (IRRs). Results presented for the case studies report standard investment metrics and show the relative contribution of each product (energy, food, water) to the system profitability, as well as socio-economic impact. Existing companies were fully engaged in the process. Co-creation between sector experts and industry led to both improved business value propositions and robust assessment of investment readiness. In contrast to the presumption that large scale platforms are commercially attractive, the highest ranking case study companies required smaller capital expenditure (CAPEX) and operated in niche subsectors.In conclusion, the positive economic performance of the case studies should provide confidence for the EC as well as investors that MUS and MUP have viable economic futures leading towards commercialisation. The macro and micro assessment methods will be particularly useful in other Blue Economy contexts and in other multiple product contexts

Management of transboundary and straddling fish stocks in the Northeast Atlantic in view of climate-induced shifts in spatial distribution

The introduction of 200 n.m. exclusive economic zones (EEZs) in the late 1970s required increased collaboration among neighbouring coastal states to manage transboundary and straddling fish stocks. The established agreements ranged from bilateral to multilateral, including high‐seas components, as appropriate. However, the 1982 United Nations Convention on the Law of the Sea does not specify how quotas of stocks crossing EEZs should be allocated, nor was it written for topical scenarios, such as climate change with poleward distribution shifts that differ across species. The productive Northeast Atlantic is a hot spot for such shifts, implying that scientific knowledge about zonal distribution is crucial in quota negotiations. This diverges from earlier, although still valid, agreements that were predominately based on political decisions or historical distribution of catches. The bilateral allocations for Barents Sea and North Sea cod remain robust after 40 years, but the management situation for widely distributed stocks, as Northeast Atlantic mackerel and Norwegian spring‐spawning herring, appears challenging, with no recent overall agreements. Contrarily, quotas of Northern hake are, so far, unilaterally set by the EU despite the stock's expansion beyond EU waters into the northern North Sea. Negotiations following the introduction of EEZs were undertaken at the end of the last cooler Atlantic Multidecadal Oscillation (AMO) period, that is, with stock distributions generally in a southerly mode. Hence, today's lack of management consensus for several widely distributed fish stocks typically relates to more northerly distributions attributed to the global anthropogenic signal accelerating the spatial effect of the current warmer AMO