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Article

Economic Feasibility of Floating Offshore Wind Farms Considering Near Future Wind Resources: Case Study of Iberian Coast and Bay of Biscay

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Departamento de Enxeñaría Naval e Industrial, Escola Politécnica Superior, Universidade da Coruña, Esteiro, 15471 Ferrol, Spain
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Environmental Physics Laboratory (EphysLab), Centro de Investigacións Mariñas (CIM)-UVIGO, Universidade de Vigo, Edificio Campus da Auga, 32004 Ourense, Spain
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Group of Nonlinear Physics, Department of Particle Physics, CRETUS Institute, University of Santiago de Compostela, 15705 Santiago de Compostela, Spain
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Departamento de Química, Escola Politécnica Superior, Universidade da Coruña, Esteiro, 15471 Ferrol, Spain
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Departamento de Ciencias da Navegación e Enxeñaría Mariña, Escola Politécnica Superior, Universidade da Coruña, Esteiro, 15471 Ferrol, Spain
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Centro de Estudos do Ambiente e do Mar (CESAM), Physics Department, University of Aveiro, 3810-193 Aveiro, Portugal
*
Author to whom correspondence should be addressed.
Academic Editor: Paul B. Tchounwou
Int. J. Environ. Res. Public Health 2021, 18(5), 2553; https://doi.org/10.3390/ijerph18052553
Received: 29 January 2021 / Revised: 22 February 2021 / Accepted: 25 February 2021 / Published: 4 March 2021
(This article belongs to the Special Issue The Future of Environment: New Uses of the Ocean and Energy)
Wind energy resources are subject to changes in climate, so the use of wind energy density projections in the near future is essential to determine the viability and profitability of wind farms at particular locations. Thus, a step forward in determining the economic assessment of floating offshore wind farms was taken by considering current and near-future wind energy resources in assessing the main parameters that determine the economic viability (net present value, internal rate of return, and levelized cost of energy) of wind farms. This study was carried out along the Atlantic coast from Brest to Cape St. Vincent. Results show that the future reduction in wind energy density (2%–6%) mainly affects the net present value (NPV) of the farm and has little influence on the levelized cost of energy (LCOE). This study provides a good estimate of the economic viability of OWFs (Offshore Wind Farms) by taking into account how wind resources can vary due to climate change over the lifetime of the farm. View Full-Text
Keywords: floating offshore wind farms; wind power density; CORDEX future projections; LCOE; NPV; IRR floating offshore wind farms; wind power density; CORDEX future projections; LCOE; NPV; IRR
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MDPI and ACS Style

Castro-Santos, L.; deCastro, M.; Costoya, X.; Filgueira-Vizoso, A.; Lamas-Galdo, I.; Ribeiro, A.; Dias, J.M.; Gómez-Gesteira, M. Economic Feasibility of Floating Offshore Wind Farms Considering Near Future Wind Resources: Case Study of Iberian Coast and Bay of Biscay. Int. J. Environ. Res. Public Health 2021, 18, 2553. https://doi.org/10.3390/ijerph18052553

AMA Style

Castro-Santos L, deCastro M, Costoya X, Filgueira-Vizoso A, Lamas-Galdo I, Ribeiro A, Dias JM, Gómez-Gesteira M. Economic Feasibility of Floating Offshore Wind Farms Considering Near Future Wind Resources: Case Study of Iberian Coast and Bay of Biscay. International Journal of Environmental Research and Public Health. 2021; 18(5):2553. https://doi.org/10.3390/ijerph18052553

Chicago/Turabian Style

Castro-Santos, Laura, Maite deCastro, Xurxo Costoya, Almudena Filgueira-Vizoso, Isabel Lamas-Galdo, Americo Ribeiro, João M. Dias, and Moncho Gómez-Gesteira. 2021. "Economic Feasibility of Floating Offshore Wind Farms Considering Near Future Wind Resources: Case Study of Iberian Coast and Bay of Biscay" International Journal of Environmental Research and Public Health 18, no. 5: 2553. https://doi.org/10.3390/ijerph18052553

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