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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Online Access: | https://doi.org/10.3390/jmse8010058 |
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ftmdpi:oai:mdpi.com:/2077-1312/8/1/58/ 2023-08-20T04:08:22+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 agris 2020-01-19 application/pdf https://doi.org/10.3390/jmse8010058 EN eng Multidisciplinary Digital Publishing Institute Ocean Engineering https://dx.doi.org/10.3390/jmse8010058 https://creativecommons.org/licenses/by/4.0/ Journal of Marine Science and Engineering; Volume 8; Issue 1; Pages: 58 floating offshore wind feasibility study internal rate of return levelized cost of energy (LCOE) net present value Text 2020 ftmdpi https://doi.org/10.3390/jmse8010058 2023-07-31T23:01:12Z 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. Text North Atlantic MDPI Open Access Publishing Journal of Marine Science and Engineering 8 1 58 |
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MDPI Open Access Publishing |
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ftmdpi |
language |
English |
topic |
floating offshore wind feasibility study internal rate of return levelized cost of energy (LCOE) net present value |
spellingShingle |
floating offshore wind feasibility study internal rate of return levelized cost of energy (LCOE) net present value 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 |
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 |
Text |
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 |
Multidisciplinary Digital Publishing Institute |
publishDate |
2020 |
url |
https://doi.org/10.3390/jmse8010058 |
op_coverage |
agris |
genre |
North Atlantic |
genre_facet |
North Atlantic |
op_source |
Journal of Marine Science and Engineering; Volume 8; Issue 1; Pages: 58 |
op_relation |
Ocean Engineering https://dx.doi.org/10.3390/jmse8010058 |
op_rights |
https://creativecommons.org/licenses/by/4.0/ |
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 |
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1774720597946793984 |