A consortium of European companies and institutions led by Spanish energy giant Iberdrola has unveiled plans today to build a 10MW floating turbine in Norway’s North Sea. The goal of the demonstration project is to help slash the Levelised Cost of Energy (LCOE) for floating offshore wind to €40-60 per MWh by 2030, a target previously outlined by trade body WindEurope. The partners are now set to design, fabricate, install, and operate the turbine and its semi-submersible, floating concrete structure mount. Iberdrola is banking on signing a grant agreement worth roughly €25m with the European Commission in the second half of 2020, with a view to building the demonstration turbine in the second quarter of 2021 and finishing installation early the following year. The project is being developed as part of the European Commission’s Horizon 2020 programme, an €80bn, seven-year research and innovation fund that expires at the end this year.
Business Green 31st March 2020 read more »