Global energy consultancy Xodus Group has launched a three-year collaborative research project on the costs around floating offshore wind.
The study, led by Xodus through the IDCORE programme, is a collaborative partnership between the Universities of Edinburgh, Strathclyde and Exeter as well as the Scottish Association for Marine Science (SAMS). To enable the best industry outcomes, Xodus is issuing an open call to developers and technology suppliers to engage with the study from the outset.
The project will be key to ensuring floating wind can be a serious contender in the energy mix going forward and will result in a tool designed to assist in key decision making for floating offshore wind projects. It will also create guidance to assist with project finance decision making and to reduce uncertainties in floating offshore wind energy yield assessments.
Titled ‘Improving the Bankability of Floating Offshore Wind Projects’, the study will tackle the challenges and risks that project developers have in acquiring finance for floating wind projects and develop a methodology to use floating LIDAR data for bankable energy yield assessments.
The study will explore the impacts of floating structures on modelling wind resource and incorporating the impact of met ocean conditions on site considerations.
Scott Hamilton, Renewables Division manager at Xodus said: “We have a strong track record of engaging with leading academic research and are proud to be leading this collaborative project in floating offshore wind. It’s important for us to be investing in future skills that the industry needs.
“We are openly inviting developers to engage with us on this project from the outset, and we expect the outcomes to provide much needed innovative research in this area and deliver benefits to the wider wind industry.”
The IDCORE programme addresses future challenges to develop leading technologies and train world-class scientists and engineers essential for the UK to sustain its global status in the ORE sector.