Development and Analysis of a Global Floating Wind Levelised Cost of Energy Map

Abstract

Floating offshore wind (FOW) is rapidly gaining interest due to its large potential. In this regard, it is of special interest to determine the best locations for its installation. One of the main aspects when evaluating the feasibility of a project is the levelised cost of energy (LCOE), but there are many variables to consider when calculating it for FOW, and plenty of them are hard to find when the scope is all the suitable areas worldwide. This paper presents the calculation and analysis of the global LCOE with particular focus on the best countries and territories from an economic point of view, considering four types of platforms: semi-submersible, barge, spar, and tension leg platform (TLP). The model takes into account, on the one hand, wind data, average significant wave height, and distance to shore for an accurate calculation of delivered energy to the onshore substation and, on the other hand, bathymetry, distances, and existing data from projects to find appropriate functions for each cost with regression models (e.g., manufacturing, installation, operation and maintenance (O&M), and decommissioning costs). Its results can be used to assess the potential areas around the world and identify the countries and territories with the greatest opportunities regarding FOW. The lowest LCOE values, i.e., the optimal results, correspond to areas where wind resources are more abundant and the main variables of the site affecting the costs (water depth, average significant wave height, distance to shore, and distance to port) are as low as possible. These areas include the border between Venezuela and Colombia, the Canary Islands, Peru, the border between Western Sahara and Mauritania, Egypt, and the southernmost part of Argentina, with LCOEs around 90 €/MWh. Moreover, there are many areas in the range of 100–130 €/MWh.