The survey conducted by Wind Energy Update (WEU) found that foundations constitute 19 percent of an offshore wind power plant’s levelised cost of electricity (LCOE) from data supplied by Lindoe Offshore Renewables Centre (LORC). Foundation cost reduction therefore represents a very relevant means by which the costs of wind energy plant can be reduced along with the cost of the logistics involved in installation.
A significant reason for cost reduction in this area is that foundations are required not only for the turbines but also for each structure in the power plant. Sub stations, met masts and accommodation are also suitable for cost reduction initiatives.
“The offshore wind industry faces a Catch 22 scenario” said Tom Evans, Managing Director of Wind Energy Update, “a desire to innovate and see new solutions brought to market, but realistic investors need proven track records and low risk from service providers. Simply due to the volume of foundations used on projects, an opportunity is present to dedicate a sample section of new builds to testing, and should the tests prove conclusive, the option to roll out at scale is possible.”
The Offshore Wind Foundations Report was based on over 12,000 pieces of data, company case studies and industry interviews, over 1,270 survey responses and proprietary and secondary material. The result, according to WEU, is a comprehensive techno-economic assessment of the global foundations portfolio along with key industry insights, market-by-market sizing, forecasts and technology configurations essential to constructing a best position in order to realize commercial opportunities.
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