case study floating foundation wind turbine

Although these statistics are not expected to be exact, it is important to keep in mind that consumer behavior may change as a result of outside influences such as a change in the source of electricity. It would be safe to assume that these statistics are similarly based upon the specific metrics in Germany. Additionally, 4C Offshore stated that the farm led to reductions of 572,554 tons of carbon dioxide and 13,315 tons of sulfur dioxide. Note that this statistic may not translate directly across the world as the homes powered annually is directly correlated with the annual consumption per capita, which differs across nations. In terms of the effects of the offshore wind farm on the community, BARD Offshore I is able to power 283,302 houses annually (BARD Offshore 1 Offshore Wind Farm). Even in a country like Germany, a renewable energy leader, unplanned expenses can easily derail a project. Although many projects are adequately planned financially, it appears as though there is a trend amongst advancing renewable energy technology in particular of project or even business failure due to a lack of funds. The farm has been operational since it’s completion in 2013, meaning that 16 years still remain on the original power purchase agreement made with the German government, which could provide the stable cash flows associated with contracted electricity sales (Hirtenstein, 2018). Due to such a heavy initial investment, Hirtenstein notes that after an unexpected restructuring early in the sites history, the asset was transferred to the Italian bank due to financial inadequacies. is attempting to sell the wind farm for 1 billion Euros. UniCredit and the European Investment Bank were the two players who were able to finance the endeavor and kickstart the project and, as of March 2018, there are rumors that Ocean Breeze Energy GmbH & Co. The project is stated by 4C Offshore to have a cost of 2.9 billion Euros, which is an extrapolated estimate for capital expenditure based on UniCredit’s Summary Note from January of 2012. The site spans an area of 59 km 2 about 101 km from the shore, with the turbines placed on grounded tripiles in water that is approximately 40 meters deep (BARD Offshore 1 Offshore Wind Farm). This leads to an overall installed capacity of 400 MW (BARD Offshore 1 Offshore Wind Farm). BARD Offshore I is an offshore wind farm developed by Bard Engineering GmbH in the German North Sea which consists of 80 turbines, each with a nameplate capacity of 5 MW. Due to this dedication, they were able to institute what is now the 9th largest offshore wind farm by nameplate capacity, BARD Offshore I. Germany has always been a leader in renewable energy technology.

Case study floating foundation wind turbine