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Economic Feasibility of Floating Offshore Wind Farms in the North of Spain

doi: 10.3390/jmse8010058
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 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 is added to the economic maps. The case study focused on the Cantabric and North-Atlantic coasts of Spain, areas that have 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 with respect to LCOE, IRR, and NPV, and where is the best location for the connection of a floating offshore wind farm in the region selected.
net present value, Levelized cost of energy (LCOE), Floating offshore wind, Internal rate of return, Net present value, Naval architecture. Shipbuilding. Marine engineering, feasibility study, VM1-989, GC1-1581, Oceanography, Feasibility study, floating offshore wind, levelized cost of energy (lcoe), internal rate of return, levelized cost of energy (LCOE)
net present value, Levelized cost of energy (LCOE), Floating offshore wind, Internal rate of return, Net present value, Naval architecture. Shipbuilding. Marine engineering, feasibility study, VM1-989, GC1-1581, Oceanography, Feasibility study, floating offshore wind, levelized cost of energy (lcoe), internal rate of return, levelized cost of energy (LCOE)
citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).36 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Top 10% influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Top 10% impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Top 10%
