During the development, financing and construction of an offshore wind farm, the focus of most developers and suppliers is firmly on how to build the best energy project possible.
But that means operational plans can taking a back seat until much later.
Building a wind farm is not just for fun; we build projects to operate them – to generate clean energy and to provide a return on investment. So why is the operational side often more of an afterthought than a focus?
Around 30-40% of the cost of energy on an offshore wind farm is in the operational phase, yet this large portion of the cost pie is often given less thought in favour of tangible pre-COD elements of the project.
Offshore wind farms are now planned with an operational lifetime of 30+ years, so whether confidence in your project’s upside is important or making it attractive for future investors is a priority, owners should be making sure there’s a firm focus on operational strategy from early on.
To strike the balance between both building and operating the best possible wind project, there are so many considerations – from getting the opex budget right upfront to balancing lenders’ risk appetite with returns.
Get insights into some of the things you should be thinking about when planning how you’ll operate your wind farm.