The planned cost of the 21 MW Icebreaker Great Lakes wind project has fallen 17% in the last two years to $125 million and generation costs are expected to be lower than the 30 MW Block Island wind farm off Rhode Island, Lorry Wagner, president of Icebreaker developer Lake Erie Energy Development Corporation (LEEDCo), said.
Deepwater’s new capacity market agreement for the Block Island wind farm highlights the range of offtake options available to offshore projects but long-term power purchase contracts will prove crucial until the technology can compete in the wholesale markets.
DONG Energy’s massive Hornsea Project One farm will set a long-standing capacity record due to state and private financing challenges and the benefits of clustering and standardization should be felt across industry, experts said.
Statoil’s projections of 70% CAPEX cuts on the world's first floating turbine windfarm far outstrip industry-wide forecasts and supply chain and installation savings will see project costs approach fixed foundation plants over the next decade.
Ireland's offshore wind development has been boosted by the European Commission's decision to prioritize an Ireland-UK interconnector program and national regulatory issues must now be resolved to ensure construction, industry experts said.
Offshore project developers face a limited supply of vessels capable of installing new higher capacity turbines in deeper waters until the arrival from around 2018 of a new generation of purpose-built installation vessels, according to Wind Energy Update’s Offshore Foundations and Supporting Structures Report 2015.
The UK's removal of Climate Change Levy (CCL) exemptions for renewable energy projects puts further pressure on developers to improve on the latest record-low offtake prices of GBP114-119/MWh through large scale deployment of the most advanced turbine and grid technology.
New detailed evidence of increasing load factors for UK offshore windfarms is great news for the future of the industry, Ian Pritchard, Energy Asset Portfolio Manager at the UK Crown Estate told Wind Energy Update.