Which markets in the South of Europe are best placed to launch commercial scale floating wind?

April 23, 2024
 | 
2 min read
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The South of Europe has the fundamentals to be amongst the first commercial hubs for floating wind – an established wind sector, transferable shipbuilding capabilities and competitive site conditions. But the latter differs substantially across countries.

The ‘viability gap’, the gap between levelized cost of energy (LCoE) and power capture price, can be evaluated for all projects and government areas across Southern European markets utilizing our advanced economic assessment tool Aegir Quant. This provides insight into which markets might have the best case for starting the region’s floating buildout, needing the lowest level of subsidy to achieve first commercial projects.

Looking to the Aegir Quant results for Portugal, Spain, France, Italy, and Greece, project economics differ significantly based on site and commercial conditions in each market.

France and Portugal, being predominantly government led, have narrowed down their sites to the most attractive locations, while a wider spread of best to worst economics exists between projects in Spain and Italy which have many ‘projects’ declared by developers without having secured site rights.  

Despite floating LCoE being higher than the European average forecasted power price, the best projects could still protect consumers in times with high electricity prices under revenue stabilization mechanisms.

Analyse floating wind opportunities in the South of Europe with Aegir Insights' commercial toolkit

Aegir Insights provides advanced offshore wind investment software and market intelligence, helping developers and governments make better investment decisions, faster.

For more information on the global floating offshore wind market read our latest analysis on floating wind in the UK and if grid charges or site locations could determine its future. Or have a look at how the macroeconomic and supply chain pressures experienced by the offshore wind industry in 2023 impact the commercialization of the floating sector.

Aegir Insights' clients also have access to the Quarterly Floating Intelligence on the Aegir Platform.

To learn more about how Aegir Insights’ solutions can accelerate your investment decisions in offshore wind, reach out to us.

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Aegir Insights provides industry-leading intelligence powered by data science for offshore wind energy developers, governments and financial institutions.

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Aegir Insights
Havnegade 27,
1058 Copenhagen,
Denmark


Contact

info@aegirinsights.com
CVR no.: 39104792

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