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The aim of this paper is to develop a methodology to determine the economic feasibility of a floating offshore wind farm. The methodology proposed considers that the life-cycle cost of a floating offshore wind farm is composed of the costs of each of the phases of its life-cycle (concept and definition, design and development, manufacturing, installation, exploitation and dismantling). Moreover, they are subdivided considering their sub-costs and taking into account the five components of a floating offshore wind farm: offshore wind turbine, floating platform, mooring, anchoring and electric system. The method ends when the economic feasibility indexes are calculated. The methodology has been used to analyse an offshore location: the Galician region (North-West of Spain). Results indicate that the best economic area in the Galician region is the area located from the Ría de Pontevedra to the Ría de Ribadeo. In addition, comparing the three floating offshore wind platforms, the semisubmersible platform and the spar platform are the best options in economic terms. The method proposed can be used to determine the economic keys in order to develop a floating offshore wind farm in any location. [ABSTRACT FROM AUTHOR]

The objective of this article is to apply a method to determine the economic feasibility of floating offshore wind farms at Portugal continental coast. The method proposed has several phases: geographic, economic and restrictions. The objective of the geographic phase is to estimate the input variables that will be afterwards used to calculate the economic parameters in the economic phase. The restriction of bathymetry, the last stage, is then added to the economic maps previously calculated, whose value will be different depending on the floating offshore wind device chosen. In this study, two scenarios for electric tariff have been taken into consideration as well several floating offshore wind substructures: semisubmersible, TLP and spar. Results indicate what is the best floating offshore wind platform in terms of economic parameters and where is the best area, in the study region, to implement floating offshore wind farms. • a method to determine the economic feasibility of floating offshore wind farms at Portugal continental coast is applied. • The method proposed has several phases: geographic, economic and restrictions. • The restriction of bathymetry, the last stage, is then added to the economic maps previously calculated. • Two scenarios for electric tariff have been taken into consideration as well several floating offshore wind substructures. • Results indicate what is the best floating offshore wind platform in terms of economic parameters. [ABSTRACT FROM AUTHOR]

This paper assesses the economic feasibility of offshore wind farms installed in deep waters considering their internal rate of return (IRR), net present value (NPV), and levelized cost of energy (LCOE). The method proposed has three phases: geographic phase, economic phase, and restrictions phase. The purpose of the geographic step is to obtain the input values, which will be used in the economic phase. Then, the economic parameters are calculated considering the inputs provided previously. Finally, the bathymetric restriction is added to the economic maps. The case study focused on the Cantabric and North-Atlantic coasts of Spain, areas that have not been studied previously in economic terms regarding floating offshore wind technology. Moreover, several alternatives have been considered, taking into account the type of floating offshore wind structure and the electric tariff. Results indicate which is the best floating offshore wind structure with respect to LCOE, IRR, and NPV, and where is the best location for the connection of a floating offshore wind farm in the region selected. [ABSTRACT FROM AUTHOR]