Future of US Offshore Wind - Alumni Insights from the Wharton Energy Network


Date and Time
Thursday, December 3, 2020
6:00pm— 7:00pm
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Location
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Sid Radhakrishna
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Join this alumni panel of industry leaders for a conversation about market and policy trends in offshore wind and what the future holds for this exciting space. 

Offshore wind presents an enormous opportunity to create tens of thousands of highly-skilled jobs, revitalize coastal communities, and deliver large amounts of clean, reliable energy to the country’s largest population centers.

Date & Time:
Thursday, December 3, 2020
6:00 - 7:00pm ET

Location:
The panel will be hosted virtually.  Zoom details will be sent out to RSVP'd guests the week of the event.

Speakers:

  • Pete Allen (WG’12) - Head of Finance, Offshore North America, Ørsted
  • Brandon Burke (MES’18) - Policy & Outreach Director, Business Network for Offshore Wind
  • Moderated by:  Rishika Ghosh (WG’21) - Co-President, Wharton MBA Energy Club

Offshore wind energy is finally taking off in the US - Vox

 

The offshore wind opportunity:

The industry is poised for massive growth in the United States over the coming decade, after nearly 30 years of Europe leading the way. A report this year by the American Wind Energy Association (AWEA) stated that offshore wind could support 83,000 jobs and deliver $25 billion in annual economic output by 2030.  To accommodate such growth, significant investments in grid upgrades and transmission will be needed, as identified by a paper co-authored by panelist Brandon Burke of the Business Network for Offshore Wind.

Globally, offshore wind had a record year in 2019, with 6.1 GW of new additions (GWEC 2020). Financings in the first six months of 2020 totaled $35 billion, up 319% year-over-year and already eclipsing 2019’s record full-year figure of $31.9 billion (BNEF). In parallel, offshore wind is benefitting from the 67% reduction in levelized costs achieved since 2012 (BNEF).

Offshore wind has the promise to help drive economic recovery from the COVID-19 pandemic while greening our energy system and decarbonizing related infrastructure like hydrogen production. With stable policies in place, the Department of Energy found the U.S. could develop a total of 86 GW of offshore wind projects by 2050. As we continue to develop this homegrown resource, costs will continue to drop, value to consumers will grow, and the U.S. will see new jobs and investments in manufacturing and port infrastructure.

SPEAKERS:

 

Pete Allen (WG’12)

Head of Finance

Offshore North America, Ørsted


Pete Allen works to drive down the cost of clean energy and has varied experience working in finance for the energy industry. He is currently the Head of Finance for Offshore North America at Ørsted, the world leader in offshore wind. Previously, he worked in finance at the U.S. onshore wind developer First Wind and the global renewable energy developer SunEdison. Pete began his career as a consultant at the Parthenon Group, where he advised clients in the energy, manufacturing, and financial services industries.

Pete holds an AB in Economics from Princeton University and an MBA from the Wharton School of the University of Pennsylvania, where he was a Palmer Scholar.

 

Brandon Burke (MES’18)

Policy & Outreach Director

Business Network for Offshore Wind


Brandon W. Burke, Esq. is the Policy & Outreach Director for the Business Network for Offshore Wind, the only nonprofit organization in the United States solely focused on advancing the American offshore wind industry and its associated supply chain. Mr. Burke plays a key role in defining and implementing the Network’s business development and policy strategy concerning the U.S. offshore wind industry on both Atlantic and Pacific Coasts. He is also the host of the Network’s podcast, Offshore Wind Insider, which features interviews and analysis concerning current policy and market developments impacting the U.S. offshore wind sector. He has delivered presentations on behalf of the Network in multiple states, and in Europe. Mr. Burke was previously employed by the New Jersey Board of Public Utilities, where he worked to advance New Jersey’s offshore wind program. Prior to that, he was employed as a trial attorney.

Mr. Burke earned his Bachelor of Science from The College of New Jersey; his Juris Doctor from Rutgers University School of Law; and his Master of Environmental Studies, with a concentration in Energy Management and Policy, from the University of Pennsylvania.

 

Moderated by:

Rishika Ghosh (WG’21)

Co-President

Wharton MBA Energy Club


Rishika has a decade of academic and professional project experience in the energy & sustainable development spaces. She is a second-year MBA Candidate at The Wharton School and is currently a Co-President of the Wharton Energy Club. Prior to Wharton, she was an engineer & program manager at GE Renewable Energy, developing solutions for fleet-wide challenges on its global onshore wind turbine fleet. This summer, she was a Finance & Strategy Summer Associate at DTE Energy and is currently a Revenue Operations Intern at CrossnoKaye, a Series A enterprise cloud controls software startup. She holds a B.S. in Chemical Engineering and an M.Eng in Energy, Economics, and Engineering from Cornell University.


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