This thesis aims to investigate the levelized cost of energy of an offshore floating wind farm,
as well as evaluate its financial feasibility. Thus, the research question is as follows: How to
estimate the life cycle costs of a floating wind farm off the coast of Norway?
The investigated wind farm is located off the coast of Norway, more specifically in the Troll
field area west of Bergen. This area has a water depth of 325 m and a distance to shore of 65
km. The wind farm is set to consist of 50 wind turbines and has a lifespan of 25 years. The OC4
Deepwind semisubmersible floater developed by the National Renewable Energy Laboratory,
complemented with a 15 MW turbine, is used as the research model. To find the capital
expenditures of the planned wind farm, the Offshore Renewables Balance-of-system and
Installation Tool is used, while the operational expenditures are calculated based on the
theoretical energy output.
The total levelized cost of energy of the wind farm is calculated to be 100.69 /MWh.Capitalexpenditureisthemostprominentcostandconstitutes63.1expendituresconstitutetheremaining36.9lifespan,capacityfactor,andprojectdiscountratearethefactorswiththemostpotentialtoinfluencethelevelizedcostofenergy.Thefinancialcalculationsshowthatthewindfarmisnoteconomicallyfeasibleasithasacomputednetpresentvalueofnegative 561 900 000. Finally,
novel offshore wind energy solutions involving the utilization of shared substructures and
mooring lines have been studied, and the findings suggest the possibility of a diminished
levelized cost of energy