Publications

Castro-Santos, L., Bento, A.R., Silva, D., Salvação, N. and Guedes Soares, C. (2020), “Economic feasibility of floating offshore wind farms in the north of Spain”, Journal of Marine Science and Engineering, Vol. 8(1), pp. 58-76

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 its 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 will be added to the economic maps. The case study is focused on the Cantabric and North-Atlantic coast of Spain, an area that has 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 is regarding its LCOE, IRR and NPV, and where is the best location for the connection of a floating offshore wind farm in the region selected.

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