High voltage direct current systems through submarine cables for offshore wind farms: A life-cycle cost analysis with voltage source converters for bulk power transmission

ACAROĞLU H., García Márquez F. P.

ENERGY, cilt.249, 2022 (SCI-Expanded) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 249
  • Basım Tarihi: 2022
  • Doi Numarası: 10.1016/j.energy.2022.123713
  • Dergi Adı: ENERGY
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, PASCAL, Aerospace Database, Applied Science & Technology Source, Aquatic Science & Fisheries Abstracts (ASFA), CAB Abstracts, Communication Abstracts, Computer & Applied Sciences, Environment Index, INSPEC, Metadex, Pollution Abstracts, Public Affairs Index, Veterinary Science Database, Civil Engineering Abstracts
  • Anahtar Kelimeler: High voltage direct current (HVDC), Offshore wind farm, Voltage source converter (VSC), Life-cycle cost (LCC), Submarine cables, Net present value (NPV), RENEWABLE ENERGY, EUROPE
  • Eskişehir Osmangazi Üniversitesi Adresli: Evet

Özet

The utilization of alternative power systems is prominent for energy transmission, supply, and security. This paper conducts an economic analysis for offshore wind farms, in which bulk power of wind energy is transmitted from offshore wind farms with high voltage direct current through submarine cables. The motivation is the examination of the hypothesis that any asset should be conditional on the total cost of infrastructure and installation, being at least amortized or generating profits depending on the interest rates of any countries. This hypothesis is tested with a life-cycle cost analysis using 40-year lifetime. The operation time is 27 years and conducted with a cumulative cash flow calculation. The transmission route starts from Bozcaada and Gokceada and ends in Istanbul (Turkey). Based on 600 MW voltage source converter, 222 km submarine cables are proposed to be a project for investors and decision makers. The investment seems feasible in terms of the generated profit and economic findings such as 10-year break-even point, and 121.11 M$ net present value. Sensitivity analysis reveals that government subsidies on the infrastructure and environmental costs are powerful incentives and create solutions. Thereby, economic and environmental advantages of this investment can provide a model for other selected regions in Turkey and any other country.(c) 2022 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).