ECONOMIC MODELLING OF FLOATING OFFSHORE WIND POWER Calculation
of Levelized cost of energy
SHAYAN HEIDARI
School of Business, Society and Engineering Course: Degree
Project in Industrial Engineering and Management with
Specialization in Energy Engineering Course code: ERA402 Subject:
Industrial Engineering and Management Credits: 30.0 credits
Program: Master of Science in Industrial Economics
Supervisor: Jan Sandberg Examiner: Jinyue Yan Customer: Urban
Joelsson, Flowocean Date: 2017-06-09 E-mail:
[email protected]
INSTRUCTIONS
Thesis work: Economic modelling of floating wind power
Levelized cost of energy model for floating wind power
projects
5/8/17
Purpose:
Instructions:
Shayan Heidari
[email protected]
This model has been developed as part of a thesis work during
spring 2017. It is based on availble public data and information of
current floating wind power projects. The created model is designed
primarily for floating wind power plants. It will possibly be
compared to some extent with fixed-bottom wind power concepts but
is developed solely for floating wind power.
Start by inserting technical data and wind site specifications
in the "INPUT" sheet. There are two options related to substructure
and anchor costs that are optional to choose, if the manufacturing
process of the substrucutre and details about the mooring lines are
known the model performs a more detailed calculation. In the "LCOE"
sheet, an overview of the total costs of the project is presented.
It is possible to change the cost of different stages of the
project in this sheet by entering percentage change if desirable.
The "CASHFLOW" sheet presents the cash flow of the project, the
LCOE value is calculated in this sheet. Lastly, in the "SENSIVITY
ANALYSIS" sheet, several graphs are presented that describes the
change of LCOE by changing different input variables.
mailto:[email protected]
INPUT
Technical data
Turbine capacity (MW)7
Substructure typeSpar-buoy
Substructure component weight (tons)Unknown
Stiffened column500
Tapered column300
Heave plates300
Truss members300
Outfitting100
Anchor typeDrag-embedded
Number of anchors on each unit3
Anchor length & loadUnknown
Chain length (m)1000
Minimum breaking load (kN)9000
Wind Farm specifications
Number of units in farm70
Total number of anchors210
Total wind farm desired output (MW)490
Own electric infrastructure? Yes
Wind Farm site data
Distance to O&M port (km)50
Water depth (m)100
Installation
Distance from staging port to project site (km)50
Distance from staging port to inshore assembly area
(km)10
Shayan: Distance related to installation of spar-buoy structures
only.
Distance from inshore assembly area to project site
(km)40
Shayan: Distance related to installation of spar-buoy structures
only.
Energy production
Capacity factor50%
Wind farm availability95%
Aerodynamic array losses7%
Electrical array losses1%
Other losses3%
Financing
Equity
% of total financing80%
Risk-free rate3.4%
Beta1.30
EMRP6.0%
Cost (%)11.2%
Debt
% of total financing20%
Cost (%)9%
Corporate tax rate35%
LCOE
LCOE-Calculator
Substructure type:Spar-buoy
Turbine capacity (MW)7
Total wind farm desired output (MW)490
CAPEX/MWTotal % change/MWTotal Comment:
Project development150,00073,500,0000%150,00073,500,000
Turbine1,175,000575,750,0000%1,175,000575,750,000
Substructure454,143222,530,0000%454,143222,530,000
Mooring system57,00027,930,0000%57,00027,930,000
Electrical
interconnection425,000208,250,0000%425,000208,250,000
Installation514,000251,860,0000%514,000251,860,000
Insurance during
construction38,00018,620,0000%38,00018,620,000
Other costs000%00
Contingency281,314137,844,0000%281,314137,844,000
Total CAPEX3,094,4571,516,284,0000.00%3,094,4571,516,284,000
OPEX/MW/yearTotal % change/MWTotal Comment:
Operation &
Maintenance100,00049,000,0000%100,00049,000,000
Operating phase insurance16,0007,840,0000%16,0007,840,000
Electric transmission charge000%00
Other costs000%00
Total OPEX116,00056,840,0000.00%116,00056,840,000
Energy production
Gross energy production (MWh/MW/year)8,760
Net capacity factor42%
Net energy production (Mwh/MW/year)3,716
Cost of capital
WACC - Weighted average cost of capital10.10%
LCOE
Levelised cost of energy138
CAPEX
Project developmentTurbineSubstructureMooring systemElectrical
interconnectionInstallationInsurance during constructionOther
costsContingency1500001175000454142.8571428571657000425000514000380000281314.28571428574
CASH FLOW
CASHFLOWYear-4-3-2-101234567891011121314151617181920
CAPEX
Project development70%10%10%10%
Turbine50%50%
Substructure50%50%
Mooring system40%60%
Electrical interconnection70%20%10%
Installation30%70%
Insurance during construction33%33%33%
Other costs
Contingency33%33%33%
Total
CAPEX51,450,0007,350,000205,279,667587,024,667665,179,667
OPEX
Operation &
Maintenance100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%
Operating phase
insurance100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%100%
Electric transmission
charge0%0%0%0%0%0%0%0%0%0%0%0%0%0%0%0%0%0%0%0%
Total
OPEX56,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,00056,840,000
Energy Production
Net energy production per MW
(MWh)3,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,7163,716
Net annual energy production
(MWh)1,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,8901,820,890
Discount rate
(average)10.95303814860.86562712180.78623328470.71412131440.64862333050.58913270950.53509846640.48602015150.44144321560.40095479990.36417991230.33077795450.3004395670.27288376450.24785533290.22512246630.20447461920.18572055740.16868658590.15321494120.13916232920.12639859870.11480553570.1042757686
Discounted Cashflow
Capex51,450,0007,004,830177,695,647461,538,332475,018,978
Opex36,867,75033,486,30330,414,99727,625,38525,091,63222,790,27120,699,98618,801,41917,076,98515,510,71314,088,09712,795,96111,622,33710,556,3569,588,1468,708,7377,909,9877,184,4966,525,5475,927,035
Total discounted
cashflow1,515,979,92851,450,0007,004,830177,695,647461,538,332475,018,97836,867,75033,486,30330,414,99727,625,38525,091,63222,790,27120,699,98618,801,41917,076,98515,510,71314,088,09712,795,96111,622,33710,556,3569,588,1468,708,7377,909,9877,184,4966,525,5475,927,035
Discounted net
generation10,996,8471,181,0721,072,746974,355884,989803,819730,095663,132602,310547,067496,891451,317409,923372,326338,177307,160278,988253,399230,158209,048189,875
Levelised cost of energy (/MWh)138
SENSIVITY ANALYSIS
Turbine Capacity (MW)Spar-buoySemi-submersibleTension Leg
Platform
3157193183
4149172165
5145160154
6143151146
7138147141
8134145137Technical data
9131144134Turbine capacity (MW)7
10128143132Substructure component weight (tons)Unknown
Anchor length & loadUnknown
Own electric infrastructure? Yes
Wind Farm site data
Distance to O&M port (km)50
Water depth (m)100
Installation
Distance from staging port to project site (km)50
Distance from staging port to inshore assembly area (km)10
Distance from inshore assembly area to project site (km)40
Energy production
Capacity factor50%
Wind farm availability95%
Aerodynamic array losses7%
Electrical array losses1%
Other losses3%
Spar-buoySemi-submersibleTension Leg PlatformFinancing
Own electric infrastructure138147142Equity
Lease electric infrastructure132140133% of total
financing80%
Risk-free rate3.4%
Beta1.30
EMRP6.0%
Cost (%)11.2%
Debt
% of total financing20%
Cost (%)9%
Corporate tax rate35%
Distance to O&M port (km)Spar-buoySemi-submersibleTension
Leg Platform
10136146141
30137147141
50138147142
70138148142
90139148142
110139149142
Capacity factorSpar-buoySemi-submersibleTension Leg Platform
40%172184177
42%164176168
44%157168161
46%150160154
48%144154147
50%138147142
52%133142136
54%128137131
Wind farm availabilitySpar-buoySemi-submersibleTension Leg
Platform
90%146156150
91%144154148
92%142152146
93%141151144
94%139149143
95%138147142
96%136146140
97%135144138
98%134143137
99%132141136
BetaSpar-buoySemi-submersibleTension Leg Platform
0.6112119115
0.8119127122
1127135129
1.2134143138
1.4142152145
1.6150161154
1.8158170163
2167180172
Debt costSpar-buoySemi-submersibleTension Leg Platform
4%133142136
6%135144138
8%137146140
10%139149142
12%141151145
Turbine Capacity (MW)
Spar-buoy345678910157149145143138134131128Semi-submersible345678910193172160151147145144143Tension
Leg Platform345678910183165154146141137134132
Turbine capacity (Mw)
LCOE (/Mwh)
Transmission cost
Own electric infrastructureSpar-buoySemi-submersibleTension Leg
Platform138147142Lease electric
infrastructureSpar-buoySemi-submersibleTension Leg
Platform132140133
LCOE (/Mwh
Distance to O&M port (km)
Spar-buoy1030507090110136137138138139139Semi-submersible1030507090110146147147148148149Tension
Leg Platform1030507090110141141142142142142
Distance to o&m port (km)
LCOE (/Mwh
Capacity factor
Spar-buoy0.40.420.440.460.480.50.520.54172164157150144138133128Semi-submersible0.40.420.440.460.480.50.520.54184176168160154147142137Tension
Leg
Platform0.40.420.440.460.480.50.520.54177168161154147142136131
capacity factor (%)
LCOE (/Mwh
Wind farm availability
Spar-buoy0.90.910.920.930.940.950.960.970.980.99146144142141139138136135134132Semi-submersible0.90.910.920.930.940.950.960.970.980.99156154152151149147146144143141Tension
Leg
Platform0.90.910.920.930.940.950.960.970.980.99150148146144143142140138137136
wind farm availability (%)
LCOE (/Mwh
Beta
Spar-buoy0.60.811.21.41.61.82112119127134142150158167Semi-submersible0.60.811.21.41.61.82119127135143152161170180Tension
Leg Platform0.60.811.21.41.61.82115122129138145154163172
Beta
LCOE (/Mwh
Debt cost
Spar-buoy0.040.060.080.10.12133135137139141Semi-submersible0.040.060.080.10.12142144146149151Tension
Leg Platform0.040.060.080.10.12136138140142145
debt cost (%)
LCOE (/Mwh
Turbine Capacity (MW)
Spar-buoy345678910157149145143138134131128Semi-submersible345678910193172160151147145144143Tension
Leg Platform345678910183165154146141137134132
Turbine capacity (Mw)
LCOE (/Mwh)
Transmission cost
Own electric infrastructureSpar-buoySemi-submersibleTension Leg
Platform138147142Lease electric
infrastructureSpar-buoySemi-submersibleTension Leg
Platform132140133
LCOE (/Mwh
Distance to O&M port (km)
Spar-buoy1030507090110136137138138139139Semi-submersible1030507090110146147147148148149Tension
Leg Platform1030507090110141141142142142142
Distance to o&m port (km)
LCOE (/Mwh
Capacity factor
Spar-buoy0.40.420.440.460.480.50.520.54172164157150144138133128Semi-submersible0.40.420.440.460.480.50.520.54184176168160154147142137Tension
Leg
Platform0.40.420.440.460.480.50.520.54177168161154147142136131
capacity factor (%)
LCOE (/Mwh
Wind farm availability
Spar-buoy0.90.910.920.930.940.950.960.970.980.99146144142141139138136135134132Semi-submersible0.90.910.920.930.940.950.960.970.980.99156154152151149147146144143141Tension
Leg
Platform0.90.910.920.930.940.950.960.970.980.99150148146144143142140138137136
wind farm availability (%)
LCOE (/Mwh
Beta
Spar-buoy0.60.811.21.41.61.82112119127134142150158167Semi-submersible0.60.811.21.41.61.82119127135143152161170180Tension
Leg Platform0.60.811.21.41.61.82115122129138145154163172
Beta
LCOE (/Mwh
Debt cost
Spar-buoy0.040.060.080.10.12133135137139141Semi-submersible0.040.060.080.10.12142144146149151Tension
Leg Platform0.040.060.080.10.12136138140142145
debt cost (%)
LCOE (/Mwh
Turbine Capacity (MW)
Spar-buoy345678910157149145143138134131128Semi-submersible345678910193172160151147145144143Tension
Leg Platform345678910183165154146141137134132
Turbine capacity (Mw)
LCOE (/Mwh)
Transmission cost
Own electric infrastructureSpar-buoySemi-submersibleTension Leg
Platform138147142Lease electric
infrastructureSpar-buoySemi-submersibleTension Leg
Platform132140133
LCOE (/Mwh
Distance to O&M port (km)
Spar-buoy1030507090110136137138138139139Semi-submersible1030507090110146147147148148149Tension
Leg Platform1030507090110141141142142142142
Distance to o&m port (km)
LCOE (/Mwh
Capacity factor
Spar-buoy0.40.420.440.460.480.50.520.54172164157150144138133128Semi-submersible0.40.420.440.460.480.50.520.54184176168160154147142137Tension
Leg
Platform0.40.420.440.460.480.50.520.54177168161154147142136131
capacity factor (%)
LCOE (/Mwh
Wind farm availability
Spar-buoy0.90.910.920.930.940.950.960.970.980.99146144142141139138136135134132Semi-submersible0.90.910.920.930.940.950.960.970.980.99156154152151149147146144143141Tension
Leg
Platform0.90.910.920.930.940.950.960.970.980.99150148146144143142140138137136
wind farm availability (%)
LCOE (/Mwh
Beta
Spar-buoy0.60.811.21.41.61.82112119127134142150158167Semi-submersible0.60.811.21.41.61.82119127135143152161170180Tension
Leg Platform0.60.811.21.41.61.82115122129138145154163172
Beta
LCOE (/Mwh
Debt cost
Spar-buoy0.040.060.080.10.12133135137139141Semi-submersible0.040.060.080.10.12142144146149151Tension
Leg Platform0.040.060.080.10.12136138140142145
debt cost (%)
LCOE (/Mwh
Turbine Capacity (MW)
Spar-buoy345678910157149145143138134131128Semi-submersible345678910193172160151147145144143Tension
Leg Platform345678910183165154146141137134132
Turbine capacity (Mw)
LCOE (/Mwh)
Transmission cost
Own electric infrastructureSpar-buoySemi-submersibleTension Leg
Platform138147142Lease electric
infrastructureSpar-buoySemi-submersibleTension Leg
Platform132140133
LCOE (/Mwh
Distance to O&M port (km)
Spar-buoy1030507090110136137138138139139Semi-submersible1030507090110146147147148148149Tension
Leg Platform1030507090110141141142142142142
Distance to o&m port (km)
LCOE (/Mwh
Capacity factor
Spar-buoy0.40.420.440.460.480.50.520.54172164157150144138133128Semi-submersible0.40.420.440.460.480.50.520.54184176168160154147142137Tension
Leg
Platform0.40.420.440.460.480.50.520.54177168161154147142136131
capacity factor (%)
LCOE (/Mwh
Wind farm availability
Spar-buoy0.90.910.920.930.940.950.960.970.980.99146144142141139138136135134132Semi-submersible0.90.910.920.930.940.950.960.970.980.99156154152151149147146144143141Tension
Leg
Platform0.90.910.920.930.940.950.960.970.980.99150148146144143142140138137136
wind farm availability (%)
LCOE (/Mwh
Beta
Spar-buoy0.60.811.21.41.61.82112119127134142150158167Semi-submersible0.60.811.21.41.61.82119127135143152161170180Tension
Leg Platform0.60.811.21.41.61.82115122129138145154163172
Beta
LCOE (/Mwh
Debt cost
Spar-buoy0.040.060.080.10.12133135137139141Semi-submersible0.040.060.080.10.12142144146149151Tension
Leg Platform0.040.060.080.10.12136138140142145
debt cost (%)
LCOE (/Mwh
Turbine Capacity (MW)
Spar-buoy345678910157149145143138134131128Semi-submersible345678910193172160151147145144143Tension
Leg Platform345678910183165154146141137134132
Turbine capacity (Mw)
LCOE (/Mwh)
Transmission cost
Own electric infrastructureSpar-buoySemi-submersibleTension Leg
Platform138147142Lease electric
infrastructureSpar-buoySemi-submersibleTension Leg
Platform132140133
LCOE (/Mwh
Distance to O&M port (km)
Spar-buoy1030507090110136137138138139139Semi-submersible1030507090110146147147148148149Tension
Leg Platform1030507090110141141142142142142
Distance to o&m port (km)
LCOE (/Mwh
Capacity factor
Spar-buoy0.40.420.440.460.480.50.520.54172164157150144138133128Semi-submersible0.40.420.440.460.480.50.520.54184176168160154147142137Tension
Leg
Platform0.40.420.440.460.480.50.520.54177168161154147142136131
capacity factor (%)
LCOE (/Mwh
Wind farm availability
Spar-buoy0.90.910.920.930.940.950.960.970.980.99146144142141139138136135134132Semi-submersible0.90.910.920.930.940.950.960.970.980.99156154152151149147146144143141Tension
Leg
Platform0.90.910.920.930.940.950.960.970.980.99150148146144143142140138137136
wind farm availability (%)
LCOE (/Mwh
Beta
Spar-buoy0.60.811.21.41.61.82112119127134142150158167Semi-submersible0.60.811.21.41.61.82119127135143152161170180Tension
Leg Platform0.60.811.21.41.61.82115122129138145154163172
Beta
LCOE (/Mwh
Debt cost
Spar-buoy0.040.060.080.10.12133135137139141Semi-submersible0.040.060.080.10.12142144146149151Tension
Leg Platform0.040.060.080.10.12136138140142145
debt cost (%)
LCOE (/Mwh
Turbine Capacity (MW)
Spar-buoy345678910157149145143138134131128Semi-submersible345678910193172160151147145144143Tension
Leg Platform345678910183165154146141137134132
Turbine capacity (Mw)
LCOE (/Mwh)
Transmission cost
Own electric infrastructureSpar-buoySemi-submersibleTension Leg
Platform138147142Lease electric
infrastructureSpar-buoySemi-submersibleTension Leg
Platform132140133
LCOE (/Mwh
Distance to O&M port (km)
Spar-buoy1030507090110136137138138139139Semi-submersible1030507090110146147147148148149Tension
Leg Platform1030507090110141141142142142142
Distance to o&m port (km)
LCOE (/Mwh
Capacity factor
Spar-buoy0.40.420.440.460.480.50.520.54172164157150144138133128Semi-submersible0.40.420.440.460.480.50.520.54184176168160154147142137Tension
Leg
Platform0.40.420.440.460.480.50.520.54177168161154147142136131
capacity factor (%)
LCOE (/Mwh
Wind farm availability
Spar-buoy0.90.910.920.930.940.950.960.970.980.99146144142141139138136135134132Semi-submersible0.90.910.920.930.940.950.960.970.980.99156154152151149147146144143141Tension
Leg
Platform0.90.910.920.930.940.950.960.970.980.99150148146144143142140138137136
wind farm availability (%)
LCOE (/Mwh
Beta
Spar-buoy0.60.811.21.41.61.82112119127134142150158167Semi-submersible0.60.811.21.41.61.82119127135143152161170180Tension
Leg Platform0.60.811.21.41.61.82115122129138145154163172
Beta
LCOE (/Mwh
Debt cost
Spar-buoy0.040.060.080.10.12133135137139141Semi-submersible0.040.060.080.10.12142144146149151Tension
Leg Platform0.040.060.080.10.12136138140142145
debt cost (%)
LCOE (/Mwh
Turbine Capacity (MW)
Spar-buoy345678910157149145143138134131128Semi-submersible345678910193172160151147145144143Tension
Leg Platform345678910183165154146141137134132
Turbine capacity (Mw)
LCOE (/Mwh)
Transmission cost
Own electric infrastructureSpar-buoySemi-submersibleTension Leg
Platform138147142Lease electric
infrastructureSpar-buoySemi-submersibleTension Leg
Platform132140133
LCOE (/Mwh
Distance to O&M port (km)
Spar-buoy1030507090110136137138138139139Semi-submersible1030507090110146147147148148149Tension
Leg Platform1030507090110141141142142142142
Distance to o&m port (km)
LCOE (/Mwh
Capacity factor
Spar-buoy0.40.420.440.460.480.50.520.54172164157150144138133128Semi-submersible0.40.420.440.460.480.50.520.54184176168160154147142137Tension
Leg
Platform0.40.420.440.460.480.50.520.54177168161154147142136131
capacity factor (%)
LCOE (/Mwh
Wind farm availability
Spar-buoy0.90.910.920.930.940.950.960.970.980.99146144142141139138136135134132Semi-submersible0.90.910.920.930.940.950.960.970.980.99156154152151149147146144143141Tension
Leg
Platform0.90.910.920.930.940.950.960.970.980.99150148146144143142140138137136
wind farm availability (%)
LCOE (/Mwh
Beta
Spar-buoy0.60.811.21.41.61.82112119127134142150158167Semi-submersible0.60.811.21.41.61.82119127135143152161170180Tension
Leg Platform0.60.811.21.41.61.82115122129138145154163172
Beta
LCOE (/Mwh
Debt cost
Spar-buoy0.040.060.080.10.12133135137139141Semi-submersible0.040.060.080.10.12142144146149151Tension
Leg Platform0.040.060.080.10.12136138140142145
debt cost (%)
LCOE (/Mwh
The performed sensitivity analysis are performed by changing
each parameter while holding the other input parameters constant.
These are the input values that the analysis is based on:
Turbine Capacity (MW)
Spar-buoy345678910157149145143138134131128Semi-submersible345678910193172160151147145144143Tension
Leg Platform345678910183165154146141137134132
Turbine capacity (Mw)
LCOE (/Mwh)
Transmission cost
Own electric infrastructureSpar-buoySemi-submersibleTension Leg
Platform138147142Lease electric
infrastructureSpar-buoySemi-submersibleTension Leg
Platform132140133
LCOE (/Mwh
Distance to O&M port (km)
Spar-buoy1030507090110136137138138139139Semi-submersible1030507090110146147147148148149Tension
Leg Platform1030507090110141141142142142142
Distance to o&m port (km)
LCOE (/Mwh
Capacity factor
Spar-buoy0.40.420.440.460.480.50.520.54172164157150144138133128Semi-submersible0.40.420.440.460.480.50.520.54184176168160154147142137Tension
Leg
Platform0.40.420.440.460.480.50.520.54177168161154147142136131
capacity factor (%)
LCOE (/Mwh
Wind farm availability
Spar-buoy0.90.910.920.930.940.950.960.970.980.99146144142141139138136135134132Semi-submersible0.90.910.920.930.940.950.960.970.980.99156154152151149147146144143141Tension
Leg
Platform0.90.910.920.930.940.950.960.970.980.99150148146144143142140138137136
wind farm availability (%)
LCOE (/Mwh
Beta
Spar-buoy0.60.811.21.41.61.82112119127134142150158167Semi-submersible0.60.811.21.41.61.82119127135143152161170180Tension
Leg Platform0.60.811.21.41.61.82115122129138145154163172
Beta
LCOE (/Mwh
Debt cost
Spar-buoy0.040.060.080.10.12133135137139141Semi-submersible0.040.060.080.10.12142144146149151Tension
Leg Platform0.040.060.080.10.12136138140142145
debt cost (%)
LCOE (/Mwh
DATA
Project development Exchange
ratesSpar-buoyDrag-embeddedYesKnown3
SourceCost (/MW)yearfrom torateSemi-submersibleDriven
pileNoUnknown4
(KIC InnoEnergy, 2016)803602016$0.74Tension Leg Platform5
(Department of Energy & Climate Change,
2015)20000020160.826
(Howard, 2012)1890002015$0.657
(Mon, Stehly, Maples, & Settle, 2015)14690020150.738
(Scottish Enterprise, 2011)2020002014$0.619
(The Crown Estate, 2010)12000020140.8110
(Beiter, o.a., 2016)1450402013$0.64
(Hurley & Nordstrom, 2014)11300020130.85
Average value149,538 kr
150,000 kr
Turbine
SourceCost (/MW)
(KIC InnoEnergy, 2016)1118480
(Department of Energy & Climate Change, 2015)1207000
(Howard, 2012)1024000
(Mon, Stehly, Maples, & Settle, 2015)1268800
(Scottish Enterprise, 2011)1277000
(The Crown Estate, 2010)1200000
(Beiter, o.a., 2016)1171420
(Hurley & Nordstrom, 2014)1132000
Average value1,174,838 kr
1,175,000 kr
Substructure - Spar-buoyGeneral function (Beiter, o.a.,2016)
0
SourceCost (/unit)ComponentCost/ton ()3179000
(Bjerkseter & gotnes, 2013)3,179,000.00 krStiffened
column2308.811544000
Tapered column3122.89368400
Outfitting53655365000
2,627,740.00 kr3,179,000 kr
Average value2,903,370.00 kr
2,904,000 kr
Substructure - Semi-submersibleGeneral function (Beiter,
o.a.,2016)
SourceCost (/unit)ComponentCost/ton ()
(Bjerkseter & gotnes, 2013)6,375,000.00 krStiffened
column2308.81154400
Truss members46251387500
Heave plates38851165500
Outfitting5365536500
4,243,900.00 kr
Average value5,309,450.00 kr
5,310,000 kr
Substructure - TLP
SourceCost (/unit)
(Bjerkseter & gotnes, 2013)3,719,600.00 kr
3,720,000 kr
Anchors - Drag-embedded
SourceGeneral function (Beiter, o.a.,2016) 0
(Bjerkseter & gotnes, 2013)Anchor cost - DE67918.680
Cost (/anchor)96900Total anchor cost14262922.827909000
Total anchor cost203490000
Average value17305961.456,957 kr
57,000 kr
Anchors - Driven pile
Source
(Hurley & Nordstrom, 2014)
Cost (/anchor)160000
Total anchor cost33600000
Mooring lines
Mooring cost per anchor ()36000General function (Beiter,
o.a.,2016)
Total mooring cost ()7560000Chain cost328715.4
Average value3944357.7
KnownUnknown
Total anchor & mooring cost
(DE)212503192790900043367.998163265356957.142857142921,251,000
kr27,909,000 kr
Total anchor & mooring cost
(DP)37544357.74116000076621.13816326538400037,545,000 kr41,160,000
kr
Electric infrastructure
SourceCost (/MW)
(Mon, Stehly, Maples, & Settle, 2015)495950
(The Crown Estate, 2010)340000
(RenewableUK, 2012)422000
(Scottish Enterprise, 2011)442000
Average value424987.5425000
425,000 kr
Electric transmission charge4069158.4
SourceCost (/MW/year)6084218.6
(Hurley & Nordstrom, 2014)76688.58099278.8
(Howard, 2012)77,000 kr100114339
120129399.2
140144459.4
Installation - Spar-buoy substructure
NOT USEDGeneral function (Beiter, o.a.,2016)
SourceCost (/unit)3 MW Spar - 200 turbines3 till 6 MW
(Bjerkseter & gotnes, 2013)810,000 kr115,714 krSubstructure
installation costTR4Total installation cost per MW598,074 kr
73,264,968 krSubstructure installation cost140,746,479 kr
Turbine installation costTR10513537.040166914
13,762,274 krTurbine installation cost218,097,638 kr000
000
000
00
General function (Beiter, o.a.,2016) 00
6 MW Spar - 100 turbines6 till 10 MWTotal installation cost per
unit355,923 kr513537.040166914
Substructure installation costTR8514,000 kr
87,243,617 krSubstructure installation cost90,365,167 kr
Turbine installation cost
160,132,660 krTurbine installation cost123,188,717 kr
General function (Beiter, o.a.,2016)
10 MW Spar - 60 turbines
Substructure installation cost
99,729,818 kr
Turbine installation cost
12,356,887 kr
Installation - Semi-submersible structureNOT USEDGeneral
function (Beiter, o.a.,2016)
SourceCost (/unit)3 MW Semi - 200 turbines3 till 6 MW
(Bjerkseter & gotnes, 2013)736000105,143 krSubstructure
installation costTR5Total installation cost per unit203,885 kr
20436550xc34060916.6666667
Turbine installation costTR
52962150xc88270250
General function (Beiter, o.a.,2016)
6 MW Semi - 100 turbines6 till 10 MWTotal installation cost per
unit130,183 kr
Substructure installation costTR10
20436550xc21975662.5
Turbine installation costTR
52962150xc56134025
General function (Beiter, o.a.,2016)
10 MW semi - 60 turbines
Substructure installation cost
26593000
Turbine installation cost
65649650
Installation - TLP structure
SourceCost (/unit)
(Bjerkseter & gotnes, 2013)816000
(Department of Energy & Climate Change, 2015)1150000
(Hurley & Nordstrom, 2014)1654000Cost (/mw)
Average value1,206,667 kr172,381 kr
Installation - electric infrastructure
Array cable laying
SourceCost (/MW)
(The Crown Estate, 2010)120000
(Scottish Enterprise, 2011)115200
(Howard, 2012)112000
Average value115733.333333333
Export cable laying
SourceCost (/MW)
(The Crown Estate, 2010)160000
(Scottish Enterprise, 2011)152600
Average value156300
Offshore substation installation
SourceCost (/MW)
(The Crown Estate, 2010)20000
(Scottish Enterprise, 2011)28000
Average value24000
Onshore substation installation
SourceCost (/MW)
(Scottish Enterprise, 2011)18600
Construction ports
SourceCost (/MW)Spar 3-6Spar 7-10Semi 3-6Semi 7-10TLP
(The Crown Estate, 2010)26000Own electric692,728 kr513,537
kr401,029 kr346,489 kr510,427 kr
(Scottish Enterprise, 2011)34200Trans charge442,574 kr263,383
kr150,875 kr96,335 kr172,381 kr
(Mon, Stehly, Maples, & Settle, 2015)14950
(Beiter, o.a., 2016)18500
Average value23412.5
Electric infrastructure total average cost338,046 kr
Financial costs
Insurance during construction
SourceCost (/MW)
(PricewaterhouseCoopers, 2012)40000
(Mon, Stehly, Maples, & Settle, 2015)34450
37225
38,000 kr
Contigency - 10% of CAPEX
SourceCost (/MW)
(PricewaterhouseCoopers, 2012)
O&M
Source
(Bjerkseter & gotnes, 2013)
Distance100200300400500
Unplanned
corrective5098129053551116.628232954037022.878232955685562.628232956154268.6282329
Condition
based17090171653490.911619517.051563561.1052034299.18
Calendar based16000001600000160000016000001600000
Total costs of repair per
year5429030756804607.538232957256539.928232958849123.733232959788567.8082329
Spar/Semi OPEX
Total costs of repair per year (500 MW)54152050
Total costs of repair per year per MW ()92,058 kr
Source
(Beiter, o.a., 2016)
Spar-buoy OPEX
Total costs of repair per year (600 MW)
M$86.72581430415054152050
Total costs of repair per year per MW ()106,962 krAverage99,510
kr99510.16132084410054804100
020056108200
(Beiter, o.a., 2016)030057412300
Semi-submersible OPEX99,510
kr5086.7258143041106961.83764168840058716400
Total costs of repair per year (600 MW) M$66.785924011100,000
kr10089.9528303179110941.82405872650060020500
Total costs of repair per year per MW ()82,369 krAverage87,214
kr20093.1798463317114921.81047576560061324600
30095.067529689117249.953283112
Operating phase insurance
40096.4068623455118901.7968928035086.7258143041106961.837641688
SourceCost
(/MW/year)50097.445729463120183.06633771810089.9528303179110941.824058726
(Department of Energy & Climate Change,
2015)1700060098.2945457028121229.9397001520093.1798463317114921.810475765
(Howard, 2012)1800030095.067529689117249.953283112
(PricewaterhouseCoopers,
2012)1200040096.4068623455118901.796892803
15666.666666666750097.445729463120183.066337718
16,000 kr60098.2945457028121229.93970015
Insurance during construction
SourceCost (/MW)
(Mon, Stehly, Maples, & Settle, 2015)34450
(PricewaterhouseCoopers, 2012)40000
37225
38,000 kr
Energy production
Theoretical annual power prod (kWh)4292400000
Theoretical annual power prod (MWh)4292400
Annual gross energy prod (kWh)2146200000
Annual gross energy prod (MWh)2146200
Net energy prod (kWh)1820889842
Net energy prod (MWh)1820890
Net load factor0.424212525
Fixed charge rate
FCRERROR:#REF!
OPEX (All concepts)
1002003004005005429030756804607.53823287857256539.92823287858849123.73323287859788567.808232881
Distance to port (km)
OPEX (/year)
Transmission charge (/MW)
40608010012014069158.39999999999484218.699278.8114339129399.2144459.4
Distance to port (km)
(/MW)
O&M (Spar-buoy)
50100200300400500600106961.8376416879110941.82405872628114921.81047576462117249.95328311161118901.79689280296120183.06633771773121229.93970014997
Distance to port (km)
Cost (/MW/year)
O&M (Semi-submersible)
50100200300400500600106961.8376416879110941.82405872628114921.81047576462117249.95328311161118901.79689280296120183.06633771773121229.93970014997
Distance to port (km)
Cost (/MW/year)
OPEX (All concepts)
1002003004005005429030756804607.53823287857256539.92823287858849123.73323287859788567.808232881
Distance to port (km)
OPEX (/year)
Transmission charge (/MW)
40608010012014069158.39999999999484218.699278.8114339129399.2144459.4
Distance to port (km)
(/MW)
O&M (Spar-buoy)
50100200300400500600106961.8376416879110941.82405872628114921.81047576462117249.95328311161118901.79689280296120183.06633771773121229.93970014997
Distance to port (km)
Cost (/MW/year)
O&M (Semi-submersible)
50100200300400500600106961.8376416879110941.82405872628114921.81047576462117249.95328311161118901.79689280296120183.06633771773121229.93970014997
Distance to port (km)
Cost (/MW/year)
OPEX (All concepts)
1002003004005005429030756804607.53823287857256539.92823287858849123.73323287859788567.808232881
Distance to port (km)
OPEX (/year)
Transmission charge (/MW)
40608010012014069158.39999999999484218.699278.8114339129399.2144459.4
Distance to port (km)
(/MW)
O&M (Spar-buoy)
50100200300400500600106961.8376416879110941.82405872628114921.81047576462117249.95328311161118901.79689280296120183.06633771773121229.93970014997
Distance to port (km)
Cost (/MW/year)
O&M (Semi-submersible)
50100200300400500600106961.8376416879110941.82405872628114921.81047576462117249.95328311161118901.79689280296120183.06633771773121229.93970014997
Distance to port (km)
Cost (/MW/year)
OPEX (All concepts)
1002003004005005429030756804607.53823287857256539.92823287858849123.73323287859788567.808232881
Distance to port (km)
OPEX (/year)
Transmission charge (/MW)
40608010012014069158.39999999999484218.699278.8114339129399.2144459.4
Distance to port (km)
(/MW)
O&M (Spar-buoy)
50100200300400500600106961.8376416879110941.82405872628114921.81047576462117249.95328311161118901.79689280296120183.06633771773121229.93970014997
Distance to port (km)
Cost (/MW/year)
O&M (Semi-submersible)
50100200300400500600106961.8376416879110941.82405872628114921.81047576462117249.95328311161118901.79689280296120183.06633771773121229.93970014997
Distance to port (km)
Cost (/MW/year)
ShayanBifogad filLCOE_HEIDARI.xlsx