Wind energy and economic assessment of a wind farm at Senja
In order to deliver on the emission cuts in the Paris Agreement, additional renewable energy production is required to cover the rising energy demand. This thesis assesses the wind resources, energy production potential and the economic sustainability of a new potential wind farm, located at Senja i...
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UiT The Arctic University of Norway
2022
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ftunivtroemsoe:oai:munin.uit.no:10037/25834 2023-05-15T17:43:35+02:00 Wind energy and economic assessment of a wind farm at Senja Ørjavik, Ola Wang 2022-05-31 https://hdl.handle.net/10037/25834 eng eng UiT The Arctic University of Norway UiT Norges arktiske universitet https://hdl.handle.net/10037/25834 Copyright 2022 The Author(s) Wind energy Levelized Cost of Electricity Weather Research and Forecasting model EOM-3901 Master thesis Mastergradsoppgave 2022 ftunivtroemsoe 2022-07-20T22:58:54Z In order to deliver on the emission cuts in the Paris Agreement, additional renewable energy production is required to cover the rising energy demand. This thesis assesses the wind resources, energy production potential and the economic sustainability of a new potential wind farm, located at Senja island in northern Norway. The aim of this thesis is to decide if a new wind farm at Senja is an economic sustainable investment, based on the Levelized Cost of Electricity (LCOE) and the Net Present Value (NPV). The wind resources and the potential energy production was mapped by using a Numerical Weather Prediction (NWP) model, called Weather Research and Forecasting (WRF) model. The area of interest was chosen due to the current and future growth in energy demand at Senja. Troms Kraft has estimated that the energy consumption will increase by six times in 2030 from today’s levels. Development of a new local renewable energy plant would cover parts of this upcoming demand and increase the energy self-sufficiency at Senja. This thesis has shown that the wind farm at Senja is an economic sustainable investment, with energy production from 2030. The LCOE of the wind farm and the NPV was estimated to 39.65 øre/kWh and 55.42MNOK, respectively. This result was based on a yearly average energy production of 288.53GWh during an average weather year. This resulted in a capacity factor of 39.10%, which was higher than all the other wind farms in the vicinity of new wind farm. In the sensitivity analysis, the LCOE of the wind farm showed high sensitivity to variation in yearly energy production and initial Capital Expenditure (CAPEX). Master Thesis Northern Norway Senja Troms University of Tromsø: Munin Open Research Archive Norway Senja ENVELOPE(16.803,16.803,69.081,69.081) Øre ENVELOPE(7.754,7.754,62.920,62.920) |
institution |
Open Polar |
collection |
University of Tromsø: Munin Open Research Archive |
op_collection_id |
ftunivtroemsoe |
language |
English |
topic |
Wind energy Levelized Cost of Electricity Weather Research and Forecasting model EOM-3901 |
spellingShingle |
Wind energy Levelized Cost of Electricity Weather Research and Forecasting model EOM-3901 Ørjavik, Ola Wang Wind energy and economic assessment of a wind farm at Senja |
topic_facet |
Wind energy Levelized Cost of Electricity Weather Research and Forecasting model EOM-3901 |
description |
In order to deliver on the emission cuts in the Paris Agreement, additional renewable energy production is required to cover the rising energy demand. This thesis assesses the wind resources, energy production potential and the economic sustainability of a new potential wind farm, located at Senja island in northern Norway. The aim of this thesis is to decide if a new wind farm at Senja is an economic sustainable investment, based on the Levelized Cost of Electricity (LCOE) and the Net Present Value (NPV). The wind resources and the potential energy production was mapped by using a Numerical Weather Prediction (NWP) model, called Weather Research and Forecasting (WRF) model. The area of interest was chosen due to the current and future growth in energy demand at Senja. Troms Kraft has estimated that the energy consumption will increase by six times in 2030 from today’s levels. Development of a new local renewable energy plant would cover parts of this upcoming demand and increase the energy self-sufficiency at Senja. This thesis has shown that the wind farm at Senja is an economic sustainable investment, with energy production from 2030. The LCOE of the wind farm and the NPV was estimated to 39.65 øre/kWh and 55.42MNOK, respectively. This result was based on a yearly average energy production of 288.53GWh during an average weather year. This resulted in a capacity factor of 39.10%, which was higher than all the other wind farms in the vicinity of new wind farm. In the sensitivity analysis, the LCOE of the wind farm showed high sensitivity to variation in yearly energy production and initial Capital Expenditure (CAPEX). |
format |
Master Thesis |
author |
Ørjavik, Ola Wang |
author_facet |
Ørjavik, Ola Wang |
author_sort |
Ørjavik, Ola Wang |
title |
Wind energy and economic assessment of a wind farm at Senja |
title_short |
Wind energy and economic assessment of a wind farm at Senja |
title_full |
Wind energy and economic assessment of a wind farm at Senja |
title_fullStr |
Wind energy and economic assessment of a wind farm at Senja |
title_full_unstemmed |
Wind energy and economic assessment of a wind farm at Senja |
title_sort |
wind energy and economic assessment of a wind farm at senja |
publisher |
UiT The Arctic University of Norway |
publishDate |
2022 |
url |
https://hdl.handle.net/10037/25834 |
long_lat |
ENVELOPE(16.803,16.803,69.081,69.081) ENVELOPE(7.754,7.754,62.920,62.920) |
geographic |
Norway Senja Øre |
geographic_facet |
Norway Senja Øre |
genre |
Northern Norway Senja Troms |
genre_facet |
Northern Norway Senja Troms |
op_relation |
https://hdl.handle.net/10037/25834 |
op_rights |
Copyright 2022 The Author(s) |
_version_ |
1766145703874134016 |