Towards whole life-cycle costing of large-scale offshore wind farms

Mahmood Shafiee, Feargal Brennan, Inés Armada Espinosa

Research output: Chapter in Book/Report/Conference proceedingConference contribution book

3 Citations (Scopus)

Abstract

This paper presents a whole life cost (WLC) analysis framework for offshore wind farms throughout their lifespan (∼25 years). A mathematical tool is developed to evaluate all the costs associated with five phases of offshore wind projects, namely, pre-development and consenting (P&C), production and acquisition (P&A), installation and commissioning (I&C), operation and maintenance (O&M), and decommissioning and disposal (D&D). Several critical factors such as geographical location and meteorological conditions, power rating and capacity factor of wind turbines, reliability of subassemblies, and availability and accessibility of transportation means are taken into account in cost analyses. A net present value (NPV) approach is used to quantify the current value of future cash flows and a bottom-up estimate of the overall cost is obtained. Finally, the model is tested on an offshore 500 MW baseline wind farm project. Our results indicate that the capital cost of wind turbines and their sub-assemblies as well as the installation cost account for the largest proportion of LCC, followed by the O&M costs.

Original languageEnglish
Title of host publication EWEA 2015 - Scientific Proceedings
PublisherEuropean Wind Energy Association
Pages140-144
Number of pages5
ISBN (Electronic)9782930670003
Publication statusPublished - 1 Jan 2015
Externally publishedYes
EventEuropean Wind Energy Association Annual Conference and Exhibition 2015, EWEA 2015 - Paris, France
Duration: 17 Nov 201520 Nov 2015

Conference

ConferenceEuropean Wind Energy Association Annual Conference and Exhibition 2015, EWEA 2015
CountryFrance
CityParis
Period17/11/1520/11/15

Keywords

  • levelized cost of energy (LCOE)
  • offshore wind farm
  • operation and maintenance (O&M)
  • whole life cost (WLC)

Fingerprint Dive into the research topics of 'Towards whole life-cycle costing of large-scale offshore wind farms'. Together they form a unique fingerprint.

Cite this