Posters

Abstract

Green energy industries must balance among the three critical aspects of the energy trilemma: energy security, affordability, and sustainability. It is no secret that it is hard to navigate the multitude of factors at play when assessing these three areas in wind projects. Even more complex is a full energy system assessment that considers the wider energy system, such as power-to-X projects. In fact, most energy transition projects now need to consider the wider energy system. Floating offshore wind is a potent addition to the energy system, with the vast areas that could be unlocked to add significant amount of stable and sustainable energy to the grid. However, affordability is difficult. Floater design is a key aspect of this, not only is it a major cost element it is also key to ensure reliability. The question that is investigated is how various floater and mooring designs can affect the total energy system case. Instead of optimizing for the lowest possible floater cost, are there any downstream implications that need to be considered as well? For example, how does the floater concept selection affect the viability in the other end of the power-to-X business case? If you go for a floater with lower Technology Readiness Level (TRL), but with promising cost benefits, it increases risk for delay. What does that do to the Net Present Value (NPV) calculation or offtake commitments? How will the different technology components affect the business case due to its materials, local content, emissions and cost. In this project, an algorithm has been developed to search through the vast option space to investigate such cases. The algorithm combines deep technical knowledge and logic, together with commercial knowledge, which allows for a more holistic decision process at an early stage of the project's lifetime.