Informing parametric risk control policies for operational uncertainties of offshore wind energy assets
Ioannou, Anastasia and Angus, Andrew and Brennan, Feargal (2019) Informing parametric risk control policies for operational uncertainties of offshore wind energy assets. Ocean Engineering, 177. pp. 1-11. ISSN 0029-8018 (https://doi.org/10.1016/j.oceaneng.2019.02.058)
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Abstract
The aim of this paper is to investigate uncertainties present during operation of offshore wind (OW) energy assets with a view to inform risk control policies for hedging of the incurring losses. The parametric framework developed is subsequently applied across a number of different locations in the South East Coast of the UK, so as to demonstrate the effect of weather conditions and resulting downtime on a number of operational Key Performance Indicators (KPIs), such as downtime due to planned and unplanned interventions, wind farm availability, Operation and Maintenance (O&M) costs and power production losses. Higher availability levels were observed in areas closer to shore of the specified region, while the distribution of O&M cost per MWh generated demonstrated a general trade-off of higher power generation in locations farther from shore due to better wind speed profiles and higher O&M costs, as a result of the decreasing vessels accessibility. The proposed methodology aspires to contribute to the development of better-informed risk control policies, through parametrically estimating the probability of exceedance curve of the production losses of an OW farm and indicating appropriate thresholds to be considered, so as not to exceed a maximum level of risk.
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Item type: Article ID code: 67383 Dates: DateEvent1 April 2019Published1 March 2019Published Online17 February 2019AcceptedSubjects: Technology > Hydraulic engineering. Ocean engineering Department: Faculty of Engineering > Naval Architecture, Ocean & Marine Engineering Depositing user: Pure Administrator Date deposited: 20 Mar 2019 15:28 Last modified: 19 Aug 2024 00:50 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/67383