Economic influence of location in floating offshore wind farms

Castro-Santos, Laura; Díaz-Casás, Vicente

doi:10.1016/j.oceaneng.2015.07.025

Cited by 25 publications

(11 citation statements)

References 13 publications

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“…The cost of manufacturing takes into account the values of developing the wind turbines (C31) and their platforms (C32), the cost of manufacturing the moorings (C33) and anchoring (C34), and, finally, the cost of manufacturing all the electric components of the farm (C35) (electric cables, substation, etc.) [45].…”

Section: Economic Phasementioning

confidence: 99%

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Economic Feasibility of Floating Offshore Wind Farms in the North of Spain

Castro-Santos

Bento

Silva

et al. 2020

JMSE

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This paper assesses the economic feasibility of offshore wind farms installed in deep waters considering their internal rate of return (IRR), net present value (NPV), and levelized cost of energy (LCOE). The method proposed has three phases: geographic phase, economic phase, and restrictions phase. The purpose of the geographic step is to obtain the input values, which will be used in the economic phase. Then, the economic parameters are calculated considering the inputs provided previously. Finally, the bathymetric restriction is added to the economic maps. The case study focused on the Cantabric and North-Atlantic coasts of Spain, areas that have not been studied previously in economic terms regarding floating offshore wind technology. Moreover, several alternatives have been considered, taking into account the type of floating offshore wind structure and the electric tariff. Results indicate which is the best floating offshore wind structure with respect to LCOE, IRR, and NPV, and where is the best location for the connection of a floating offshore wind farm in the region selected.

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Section: Economic Phasementioning

confidence: 99%

“…In addition, the levelized cost of energy (LCOE) is calculated considering these costs (LCS FOWF t ) in €, the energy generated (E t ) in MWh/year, and the capital cost of the project (r) [45].…”

Section: Economic Phasementioning

confidence: 99%

Economic Feasibility of Floating Offshore Wind Farms in the North of Spain

Castro-Santos

Bento

Silva

et al. 2020

JMSE

Self Cite

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“…Another measure of costs is the levelized cost of energy (LCOE), which takes into account the Life-cycle costs (LCS FOWEFt ), the energy produced by the wave energy farm (E t ) (without considering losses due to individual WEC efficiency or near field effects) in MWh/year and the capital cost of the project (r) [53,54]. The formula to calculate LCOE is Equation 4.…”

Section: Economic Phasementioning

confidence: 99%

Economic Feasibility of Wave Energy Farms in Portugal

et al. 2018

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This paper develops a methodology to determine the economic feasibility of implementing offshore wave energy farms on the Portuguese continental coast. This methodology follows several phases: the geographic phase, the energy phase, the economic phase, and the restrictions phase. First, in the geographic phase, the height and the period of the waves, the bathymetry, the distance from the farm to the shore, from farm to shipyard, and from farm to port, are calculated. In the energy phase the energy produced by each wave energy converter is determined, and in the economic phase, the parameters calculated in the previous phases are used as input to find the economic parameters. Finally, in the restrictions phase, a limitation by the bathymetry will be added to the economic maps, whose value will be different depending on the floating offshore wave energy converter (WEC). In this study, three wave energy converters have been considered, Pelamis, AquaBuOY, and Wave Dragon, and several scenarios for electric tariffs have been taken into account. The results obtained indicate what the best WEC is for this study in terms of its levelized cost of energy (LCOE), internal rate of return (IRR), and net present value (NPV), and where the best area is to install wave energy farms.

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“…As a result, there may be locations where wind conditions are optimal for the installation of OWFs but which are nevertheless subject to legal restrictions derived from state and/or regional legislation protecting other interests that may conflict with the implementation of these facilities [15].…”

Section: Introductionmentioning

confidence: 99%

Development of Offshore Wind Power: Contrasting Optimal Wind Sites with Legal Restrictions in Galicia, Spain

et al. 2018

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The region of Galicia, in the northwest of the Iberian Peninsula, has a high wind potential for the installation of offshore wind farms (OWFs) in many areas of its surrounding marine waters. However, legal restrictions derived from the protection of other interests that converge in the marine environment (such as fishing, navigation, and biodiversity conservation) must be considered, along with technical limitations resulting from water depth. This study is aimed at analysing legal restrictions on the installation of OWFs in Galician waters and at identifying those zones of less conflict where the wind power density (WPD) is greater and the depths and distances from the coast are technically feasible given the current status of technology in Europe. To do this, a legal study was performed of both the strategic environmental assessment of the Spanish coast and the regulations of the different marine sectors at European, international, national, and regional levels. In addition, the WPD along the northwestern area of the Iberian Peninsula and Europe was calculated, and an analysis of maximum and average depths and distances from the coast of planned and installed OWFs in Europe was made. Two main zones without legal and technical restrictions were identified in the northeastern corner of Galicia and in the south of the Vigo estuary. The greatest WPD was identified in the northwestern zone, from Cape Finisterre to Cape Ortegal, where there are small sites without legal or technical restrictions that are near several protected zones (such as a marine reserve, a special protected area, and a wetland and its buffer zone), making necessary a deeper analysis of the specific impacts of each OWF project in the Environmental Impact Assessment.

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Economic influence of location in floating offshore wind farms

Cited by 25 publications

References 13 publications

Economic Feasibility of Floating Offshore Wind Farms in the North of Spain

Economic Feasibility of Floating Offshore Wind Farms in the North of Spain

Economic Feasibility of Wave Energy Farms in Portugal

Development of Offshore Wind Power: Contrasting Optimal Wind Sites with Legal Restrictions in Galicia, Spain

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