30-year lifespan is within reach for offshore wind projects
From Offshore Wind Journal
A report by wind consultancy K2 Management and specialist insurance broker JLT Specialty Ltd has identified trends that will shape the future of wind energy projects, including longer lifetimes for offshore wind projects.
Launched at the Offshore Wind Conference 2017 in London, Reducing the levelised cost of energy: challenges, trends and opportunities in today’s wind projects for tomorrow’s business cases, reviewed data from 60 onshore and offshore projects throughout Europe and Latin America.
The key findings from the report include that a quarter of wind projects are looking to extend the life of their project – potentially by a further five years. Currently, 25 years is considered to be an achievable lifespan for an offshore project, but 30 years may be an achievable target. This news will be welcomed by developers and investors who, given the high cost of developing wind projects, are increasingly keen to optimise their return on investment.