Economic Feasibility of Floating Offshore Wind Farms in the North of Spain
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....
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2020
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ftdoajarticles:oai:doaj.org/article:d10d9fb2f2974aea9d82e0db7e6979fa 2023-05-15T17:33:24+02:00 Economic Feasibility of Floating Offshore Wind Farms in the North of Spain Laura Castro-Santos A. Rute Bento Dina Silva Nadia Salvação C. Guedes Soares 2020-01-01T00:00:00Z https://doi.org/10.3390/jmse8010058 https://doaj.org/article/d10d9fb2f2974aea9d82e0db7e6979fa EN eng MDPI AG https://www.mdpi.com/2077-1312/8/1/58 https://doaj.org/toc/2077-1312 2077-1312 doi:10.3390/jmse8010058 https://doaj.org/article/d10d9fb2f2974aea9d82e0db7e6979fa Journal of Marine Science and Engineering, Vol 8, Iss 1, p 58 (2020) floating offshore wind feasibility study internal rate of return levelized cost of energy (lcoe) net present value Naval architecture. Shipbuilding. Marine engineering VM1-989 Oceanography GC1-1581 article 2020 ftdoajarticles https://doi.org/10.3390/jmse8010058 2022-12-31T12:16:06Z 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. Article in Journal/Newspaper North Atlantic Directory of Open Access Journals: DOAJ Articles Journal of Marine Science and Engineering 8 1 58 |
institution |
Open Polar |
collection |
Directory of Open Access Journals: DOAJ Articles |
op_collection_id |
ftdoajarticles |
language |
English |
topic |
floating offshore wind feasibility study internal rate of return levelized cost of energy (lcoe) net present value Naval architecture. Shipbuilding. Marine engineering VM1-989 Oceanography GC1-1581 |
spellingShingle |
floating offshore wind feasibility study internal rate of return levelized cost of energy (lcoe) net present value Naval architecture. Shipbuilding. Marine engineering VM1-989 Oceanography GC1-1581 Laura Castro-Santos A. Rute Bento Dina Silva Nadia Salvação C. Guedes Soares Economic Feasibility of Floating Offshore Wind Farms in the North of Spain |
topic_facet |
floating offshore wind feasibility study internal rate of return levelized cost of energy (lcoe) net present value Naval architecture. Shipbuilding. Marine engineering VM1-989 Oceanography GC1-1581 |
description |
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. |
format |
Article in Journal/Newspaper |
author |
Laura Castro-Santos A. Rute Bento Dina Silva Nadia Salvação C. Guedes Soares |
author_facet |
Laura Castro-Santos A. Rute Bento Dina Silva Nadia Salvação C. Guedes Soares |
author_sort |
Laura Castro-Santos |
title |
Economic Feasibility of Floating Offshore Wind Farms in the North of Spain |
title_short |
Economic Feasibility of Floating Offshore Wind Farms in the North of Spain |
title_full |
Economic Feasibility of Floating Offshore Wind Farms in the North of Spain |
title_fullStr |
Economic Feasibility of Floating Offshore Wind Farms in the North of Spain |
title_full_unstemmed |
Economic Feasibility of Floating Offshore Wind Farms in the North of Spain |
title_sort |
economic feasibility of floating offshore wind farms in the north of spain |
publisher |
MDPI AG |
publishDate |
2020 |
url |
https://doi.org/10.3390/jmse8010058 https://doaj.org/article/d10d9fb2f2974aea9d82e0db7e6979fa |
genre |
North Atlantic |
genre_facet |
North Atlantic |
op_source |
Journal of Marine Science and Engineering, Vol 8, Iss 1, p 58 (2020) |
op_relation |
https://www.mdpi.com/2077-1312/8/1/58 https://doaj.org/toc/2077-1312 2077-1312 doi:10.3390/jmse8010058 https://doaj.org/article/d10d9fb2f2974aea9d82e0db7e6979fa |
op_doi |
https://doi.org/10.3390/jmse8010058 |
container_title |
Journal of Marine Science and Engineering |
container_volume |
8 |
container_issue |
1 |
container_start_page |
58 |
_version_ |
1766131903301156864 |