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Security risk response assistance in the renewable energy business
The difficulty of addressing cybersecurity based on the complex environment surrounding renewable energy
The number of stakeholders involved in the renewable energy (RE) business is increasing, while at the same time the external attack surface is expanding. As it is foreseeable that the popularisation of RE power sources will be accompanied by an increase in the impact of cyberattacks on society and businesses, ensuring cybersecurity across the entire renewable energy industry, including power generation facilities, is becoming increasingly required. However, in order to assess the varied environment surrounding the RE business—including cyberattack trends, relations with stakeholders, trends in sector-level regulations and subsidy systems—and to promote optimal countermeasures, diverse knowledge is needed. Indeed, it is difficult for one company alone to ascertain all this information and respond to it.
PwC Consulting LLC (hereinafter PwC Consulting) will provide comprehensive solutions to minimise the cybersecurity risks threatening the continuity of the RE business at an early stage and contribute to ensuring the security of RE, which is expected to further expand in the future.
Security risks affecting the RE business
In the RE sector, the supply chain consists not only of the existing electric power companies but also funds and businesses from different sectors that participate in it (Fig. 1). Consequently, there are increasing numbers of cases in which system procurement and operation are being conducted without the adequate security measures. As a result, the likelihood of threat occurrence in renewable energy power generation systems and aggregator systems is increasing.
On the other hand, the main point of debate in the RE business has thus far been environmental risks, while security risks have been hidden and not adequately addressed. As a result, the impacts on business in general (Fig. 2) due to incidents in generation, security monitoring systems and aggregation systems have in most cases been overlooked.
When security risks at generation facilities have hitherto been mentioned, they have often referred to impacts on the social infrastructure due to operational stoppages in security monitoring and control systems, as well as interruptions in electricity supply resulting mainly from unauthorised access to control networks.
However, in the RE business, in addition to the risks described above, the increase in the number of stakeholders has led to new risks that could be considered. These include the miscreation or mistaken tendering of bids due to tampering with aggregator system data, impacts on investments due to reputational damage and the withdrawal from agreements by grid connectors (Fig. 3).
PwC Consulting’s service content
Based on our extensive track record of support and knowledge concerning security, law and sector practices, cultivated in the RE sector, we at PwC Consulting clarify, from a multilateral perspective, all the risks threatening the continuity of RE businesses and provide comprehensive solutions to help our clients promote efficient and effective countermeasures.
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