Offshore Wind Energy Update: The LCoE Buzzword

MarineLink.com
Thursday, September 12, 2013
Image courtesy of Offshore Wind

The buzzword of the Offshore Wind industry today is the Levelised Cost of Energy (LCoE) – the lifetime cost of the project, per unit of energy generated – which needs to be lowered in order to maximise the size of the industry. The 5th annual Offshore Wind Construction, Installation & Commissioning Conference, October 14-15, 2013 | Hamburg, Germany will consider such problems.

Current wind farm projects have indicated that costs have stabilised at around £140 / €160 per MWh and regulators have put forward a challenge that offshore wind should reach a LCOE of £100 / €120 MWh by 2020, in order to maximise the size of the industry.

The opportunities for savings across offshore wind finance, technology and supply chain have now been recognised and there are many, diverse ways in which costs can be driven down. The key areas where cost reduction can be achieved in project execution have been identified as the type of foundations, substation design and installation, cable installation and logistical strategy. However, the level of cost reduction required won’t happen unless new technology innovations are properly tested in situ to provide developers and financiers with technical assurance before undertaking major multi-billion pound procurement programmes.

Great risks are seen in the Offshore Wind grid connection, as this remains one of the greatest bottlenecks to offshore wind development. Grid infrastructure, investment and access are key financial challenges in all countries trying to realise offshore wind capacity. Further to this, weather and seabed conditions are seen as some of the other, more significant risks. Offshore marine environments often result in complex hurdles and have a huge impact on the construction process. The weather usually provides most of the challenges, especially the harsh winters Europe has been experiencing.

For such reasons the original offshore construction focussed conference, Wind Energy, will return in its 5th consecutive year again to Hamburg, Germany – the hub of offshore opportunities for the next 5 years as found in a recent Wind Energy Update survey. The industry-focussed event will bring together over 150 offshore wind installation experts for two days of business critical information disclosure.

A free information pack on the conference is available for download via: http://www.windenergyupdate.com/farshore-installation/conference-event-brochure.php?utm_source=prweb1009&utm_medium=pressrelease&utm_content=1009&utm_campaign=2407

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Kemp Succeeds Semple at Wood Group

Wood Group announced following changes to its senior management team. Alan Semple, chief financial officer (CFO) has advised the board that he intends to

ST Engineering Rejigs Top Deck

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the

Technology

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Offshore

Sapurakencana Wins 3 Petronas Oil blocks

SapuraKencana Petroleum Berhad today announced that it has entered into Sale and Purchase Agreements to acquire the entire interest of PETRONAS in 3 blocks offshore

7 Rescued from Sinking Freighter Near Haiti

Seven crewmembers were rescued after their 100-foot coastal freighter began taking on water and sank approximately 45 miles north off of Cap Haitien, Haiti, Friday.

Time-out for Kwanza Drilling

Statoil has decided to cancel the Stena Carron rig contract after fulfilling the work commitments in the Statoil-operated blocks 38 and 39 in the Kwanza basin offshore Angola.

Finance

ST Engineering Rejigs Top Deck

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the

MHI Receives "Best IR Award"

Mitsubishi Heavy Industries, Ltd. (MHI) has received one of this year's "Best IR Awards" presented annually by the Japan Investor Relations Association (JIRA).

Houston Port Commission Approves budget

The Fiscal Year 2015 Operating and Capital Budget was approved Thursday during a special meeting of the Port Commission of the Port of Houston Authority.   Projections

 
 
Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1663 sec (6 req/sec)