Posters
Come meet the poster presenters to ask them questions and discuss their work
We would like to invite you to come and see the posters at our upcoming conference. The posters will showcase a diverse range of research topics, and will give delegates an opportunity to engage with the authors and learn more about their work. Whether you are a seasoned researcher or simply curious about the latest developments in your field, we believe that the posters will offer something of interest to everyone. So please join us at the conference and take advantage of this opportunity to learn and engage with your peers in industry and the academic community.
On 9 April at 17:15, we’ll also hold the main poster session and distinguish the 7 best posters of this year’s edition with our traditional Poster Awards Ceremony. Join us at the poster area to cheer and meet the laureates, and enjoy some drinks with all poster presenters!
We look forward to seeing you there!
PO032: Cost optimal sizing and operation of renewable energy and direct line connected hydrogen production
Bernd Okkels, Technical Director, Grid Connection and System Integration, ERM
Abstract
The Danish offshore wind auction introduces new optimization opportunities compared to previous tenders. The combination of allowed overplanting with direct line connected green hydrogen production and energy storage systems is important for improving the business case for offshore wind and minimize the impact of future changes in price and volatility levels for electricity. With 6 GW offshore wind planned to be grid connected and commissioned before end of 2030, Denmark will more than double the grid connected offshore wind within a few years. Significant hydrogen and Power-to-X production is anticipated to be commissioned also influencing the electricity price. The Danish electricity price will change significantly from 2029 to 2031 and become far more volatile. The volatile prices are adding an extra challenge to the wind farm developers struggling with increased CAPEX and interest rates. Direct line connection of renewables to hydrogen production offers an alternative revenue stream minimizing the impact of volatility in future price levels for electricity, but adding hydrogen production and perhaps also energy storage makes optimization more challenging. Optimal sizing and operation of energy assets have always been a virtue but the optimization criteria and framework for grid connected asset is more complicated today depending on multiple techno economic factors of production, storage and offtakers. Even with a partial implementation of the planned renewable production capacity, the electrical system and wholesale prices will change more than we have experienced in energy systems with high renewable growth the last 30 years. An extended asset optimization routine is presented enabling developers to identify a more robust asset combination and sizing leading to increased revenues of the base case scenario, reducing the impact of more volatile price levels of electricity and derisking the project which can further reduce cost of financing.
No recording available for this poster.
