Framework for Development of an Economic Analysis Tool for Floating Concrete Offshore Wind Platforms

Abstract

The objective of this work is to establish a framework for the development of an economic analysis tool for floating offshore wind platforms built in concrete. The operation and usefulness of the beta version of a software, called Arcwind, is explained. It calculates the main economic aspects of offshore wind platforms built in concrete considering different locations in the European Atlantic Arc. This software allows the user to select different input parameters such as: the type of platform, the installation area of the farm, its specific location and in this way create different analysis scenarios. This paper analyzes the case study to install TELWIND® offshore concrete floating platforms in the Canary Islands, in Spain. The software provides data on the main economic parameters of the farm, such as Levelized Cost Of Energy (LCOE), Net Present Value (NPV), Internal Rate of Return (IRR), Pay-Back Period (PBP), as well as the main costs: cost of conception and definition, cost of design and development, cost of manufacturing, cost of installation, cost of operation and cost of dismantling. Using these parameters, a first analysis of the viability of this type of floating technology built on concrete is shown.

Fuzzy Multi-Criteria Decision for Geoinformation System-Based Offshore Wind Farm Positioning in Croatia

“…According to Chen and Su [3], the OWF scientific field is rapidly expanding, and it was stated that the growth in paper publishing has been significant in the last decade. Moreover, a lot of papers deal with OWFs and their technical, technological [4][5][6][7][8][9][10][11][12][13] and economic [14][15][16][17][18][19] aspects. Some of them analyze the wind-wave combined energy [20][21][22] and the concept of Smart OWF and 5G technology [23].…”

Main Trends and Criteria Adopted in Economic Feasibility Studies of Offshore Wind Energy: A Systematic Literature Review

“…In the study by Cordal-Iglesias et al [79], a framework was developed to economically analyze floating offshore platforms. In this, platforms built in concrete were considered and economic analyses were carried out using Arcwind software in a case study conducted in the Canary Islands, Spain.…”

“…The NPV is a criterion said to be exact and consolidated in the literature and has been used specifically in economic analyses in the area of wind power generation in recent decades [125][126][127][128]. Although NPV has been used for many decades, it remains one of the main criteria in economic feasibility analysis studies in offshore wind farms [58,62,72,79,81,106].…”

Coastal Engineering: Sustainability and New Technologies

“…Floating offshore wind platforms were analyzed in three papers. For floating offshore wind platforms built using concrete, Cordal-Iglesias et al [8] developed a beta version of a software called Arcwind in order to establish a framework for the development of an economic analysis tool. Vázquez et al [9] presented a systematic analysis of prevalent corrosion prediction models and a tool developed for estimating diameter loss during the reinforcement of concrete structures in offshore farms.…”