Innovation ecosystems and financial risk mitigation A case study in the energy sector
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Författare
Typ
Examensarbete för masterexamen
Master's Thesis
Master's Thesis
Modellbyggare
Tidskriftstitel
ISSN
Volymtitel
Utgivare
Sammanfattning
Large-scale energy and infrastructure projects for increased electrification of society will most
likely necessitate increased collaboration. Investments on such a large scale presents financial
risks that shared resources and experiences could help to mitigate. While existing literature has
looked at the role of innovation ecosystems in the sustainable transition towards renewable
energy, there remains a gap in how this relates to financial risk. Additionally, flexibility and
energy storages are becoming increasingly important for the energy system.
This master’s thesis investigates the energy innovation ecosystem surrounding a potential
project that Vattenfall are considering, The Storage Project. The study was conducted as a
qualitative single case study, involving interviews and document analysis. The study explored
how innovation ecosystems can help to generate and capture value for actors while aiding in
mitigating financial risks. To achieve this, the study identifies key barriers for collaboration and
potential risk mitigation mechanisms that can help overcoming the barriers and risk mitigation.
The study’s findings outline four types of barriers that hinder collaborations. These barriers
include Regulatory and policy barriers, Financial barriers, Internal governance barriers, and
Inter-organizational barriers. In addition to these four barriers, the thesis also presents five types
of risk mitigation mechanisms to help lower the financial risk of projects. These mechanisms
are: Structuring mechanisms, Operational mechanisms, Engagement mechanisms,
Communication mechanisms, and Intra-organizational mechanisms. These barriers and
mechanisms can have direct or indirect impact on a business case’s net present value calculation
– in particular how they might influence discount rates, initial investments and future revenues.
These findings contribute with insights on how collaboration and innovation ecosystems can
be helpful in mitigating risk. The finding also provides practical implications for managers in
the energy sector about how to achieve successful collaborations and for policy makers about
how they can help to facilitate a better functioning energy system.
Beskrivning
Ämne/nyckelord
innovation ecosystem, financial risk, risk mitigation, business case, energy sector, energy storage, ecosystem risks