A new study has demonstrated how standardising turbines and securing predictable project pipelines may be the key to reducing lifetime cost of electricity from North Sea Offshore Wind by up to 27% by 2050.
The study was created in response to rising project costs and uneven auction results, led by DNV and including eight companies.
They found that existing European capacity can broadly meet near-term demand for turbines around 15 MW. However, when volume increases, ports become a constraint and installation capacity approaches its limit.
Peter Constantin Brun, Global Segment Leader at DNV said: “Industrialisation and standardisation have been discussed for years, but their economic impact had not been quantified in this detail. Our partners trusted DNV to lead frank discussions about commercially sensitive information.
“We have now documented significant cost-reduction potential up to 28% under favourable deployment conditions, giving the industry and governments a basis for practical work to make European offshore wind more cost-effective over the next decade.”
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