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|Title:||IEA Wind Task 26: Offshore Wind Farm: Baseline Documentation|
|Authors:||SMART Gavin; SMITH Aaron; WARNER Ethan; IVER BAKKEN Sperstad; PRINSEN Bob; LACAL ARANTEGUI ROBERTO|
|Publisher:||National Renewable Energy Laboratory (NREL)|
|Abstract:||This document has been produced to provide the definition and rationale for the Baseline Offshore Wind farm established within IEA Wind Task 26 – Cost of Wind Energy. The Baseline has been developed in order to provide a common starting point for country comparisons and sensitivity analysis on key offshore wind cost and value drivers. The baseline project reflects an approximate average of the characteristics of projects installed between 2012 and 2014, with the project life assumed to be 20 years. The baseline wind farm is located 40km from construction and O&M ports and from export cable landfall. The wind farm consists of 100 4MW wind turbines mounted on monopile foundations in average water depth 25 metres, connected by 33kV inter-array cables. The arrays are connected to a single offshore substation (33kV/220kV) mounted on a jacket foundation, with the substation connected via a single 220kV export cable to an onshore substation, 10km from landfall. The wind farm employs a port-based O&M strategy using crew-transfer vessels. The baseline wind farm applies a 70/30 debt/equity ratio with resulting pre-tax WACC of 8.00% (7.10% post-tax). A generic tax rate of 25% has been applied, intended to be representative of the range of tax rates in Task 26 member countries. The site properties and technology choices have been used to estimate CapEx, OpEx and net energy production. These assumptions, together with the project life and financing inputs have been used to generate a baseline LCOE.|
|JRC Directorate:||Energy, Transport and Climate|
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