GLOBAL energy consultancy Xodus Group has launched a three-year collaborative research project on the costs around floating offshore wind.
The study, led by the Aberdeen-based firm, is a three-year research project in collaboration with the Universities of Edinburgh, Strathclyde and Exeter as well as the Scottish Association for Marine Science (SAMS).
Through the IDCORE programme it aims to establish floating wind a serious contender in the energy mix going forward by designing a tool to make key decision on future 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.
Scott Hamilton, Xodus renewables division manager, 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.”